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The small-cap sector was about on par with the worst-performing major index Monday, the Nasdaq, amid sliding names like Central Garden & Pet (CENT Quote).
Shares gave up 9.4% to $9.70 after the California-based company rescinded last week's profit guidance of between 7 cents and 9 cents a share for the fiscal fourth quarter. CEO Glenn Novotny cited continuing problems regarding weather and grain pricing, among others, which have hurt its garden and pet businesses.
The company has additionally postponed its public offering for 10 million shares -- also announced last week -- along with the planned concurrent private placement of 500,000 shares to chairman and founder William Brown. ...
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