Small-cap stocks were mostly crawling beneath the sinking major indices Wednesday amidst disappointing earnings from a variety of sectors.
Veraz Networks (VRAZ Quote) shares plunged more than 40% after the communication-equipment maker sharply missed Wall Street expectations for the third quarter. The San Jose, Calif., company swung to a profit of $332,000, or a penny a share, from a steep year-ago loss, but analysts were looking for 2 cents more. Jefferies downgraded the stock to hold from buy. Shares were off $3.28 to $4.84.
Also in the tech sector, Imergent (IIG Quote) sank 19.1% to $17.80 after the purveyor of e-commerce technology posted a fiscal first-quarter loss of $800,000, or 7 cents a share. Last year the Orem, Utah, company delivered a profit of 18 cents a share. ...
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