Thursday's Small-Cap Winners & Losers

Small stocks were tracking generally higher than the major indices Wednesday, with several small-cap energy names delivering upside on positive news.

Eagle Rock Energy(EROC Quote) was climbing more than 8% on news the natural gas company will invest a total of $420 million on expansion. Its three acquisitions include $220 million for Escambia Asset and its 33 wells in Alabama and $180 million for 171 wells in Texas from Redman Energy. Based on the deals, Eagle Rock expects to increase its annual dividend by 3 cents to 35 cents, for a dividend of as much as $1.57 per year. Shares were up $1.98 at $25.99.

Another natural gas explorer, McMoRan Exploration(MMR Quote), was also climbing on news of a well discovery. The New Orleans company said drillings at its Flatrock well "indicate a potential major discovery." Shares were up $1.34, or 8.9%, at $16.35. ...