Small-Cap Winners & Losers: Innophos Holdings
Small-cap stocks were taking on modest gains contrary to the broader markets early Friday. The Russell 2000 was tacking on 0.16% to 715.12 while the S&P SmallCap 600 was gaining 0.11% at 372.53.
Seeing positive gains early Friday was Innophos Holdings (IPHS), moving up 30.75% to $38.40. The Cranbury, N.J.-based producer of specialty phosphates in North America was upgraded by Standard & Poor's rating services to a B+ from a B. S&P said that its outlook is positive.
Slumping in early trading was TomoTherapy (TOMO), falling 46% to $5.26. The Madison, Wis.-based marketer of a radiation therapy system was downgraded by Robert W. Baird and Piper Jaffray to neutral from outperform and to neutral from buy, respectfully. TomoTherapy said it was removing $53 million in orders from its backlog.
Reporting a strong quarter, aerospace goods manufacturer Astronics (ATRO) was adding 36.2% to $19.89 Friday. The East Aurora, N.Y.-based firm reported net income growing to $5.1 million from $4.5 million year over year. On a per share basis, the company said net income increased to 60 cents from 53 cents year over year.Union Drilling (UDRL) was falling a significant 15.6% to $16.22. The Fort Worth, Texas-based land driller reported poor second quarter results with net income down to $3.4 million from $9.2 million; a 63% decline year over year. Revenue rose a dismal 2% to $75.5 million from $74.2 million in the prior-year's second quarter. comScore (SCOR) was raking in massive gains, shooting up 16.7% to $22.17. The Reston, Va.-based digital platform provider reported an increase in net income to $1.7 million from $317,000 a year earlier and a significant improvement of 38% in revenue to $24.3 million. A year earlier, the business services company was at break even per share.
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