Thursday's Small-Cap Winners & Losers

Small-cap stocks fared much the same as the major indices Thursday, hopping back and forth across the baseline.

Shares of Valence Tech (VLNC Quote), an Austin, Texas-based maker of battery technology, shot up 54% to $2.30. For the third quarter of its fiscal 2008, the company announced a net loss of $5.7 million, or 5 cents a share, vs. a loss of $6 million, or 6 cents a share, a year ago, on a 48% revenue increase to $3.4 million. Valence also announced a $70 million deal with Tanfield Group to supply batteries for Tanfield's Smith Electric Vehicles.

Meanwhile, shares of San Jose, Calif., integrated circuit maker Power Integrations (POWI Quote) jumped 30% to $27.90. The company announced last night that it had acquired Potentia Semiconductor for $5.5 million in cash and followed the announcement with strong earnings results. For the fourth quarter, Power Integrations posted non-GAAP income of $12.4 million, or 38 cents a share, vs. $5.8 million, or 19 cents a share, in 2006. The Street was looking for EPS of 35 cents. This morning, Needham & Co. upgraded the stock to strong buy from buy. ...