Small-cap stocks were down Friday, as most of the major individual moves were spurred by quarterly earnings reports. The Russell 2000 gave up 0.8% to , and the S&P SmallCap 600 lost 0.6% to 390.14.
Among the losers, Flagstar Bancorp (FBC Quote) fell to new lows. The Troy, Mich., savings and loan company announced it is raising $100 million in an equity sale to institutional investors. Flagstar is raising the money to strengthen its balance sheet. Shares fell 20% to $4.77.
Shares of KongZhong (KONG Quote), a wireless interactive entertainment company based in Beijing, slipped 12% to $4.55. The company announced first-quarter non-GAAP income of $950,000, or 3 cents a share, vs. $2.1 million, or 6 cents a share, a year ago. Analysts surveyed by Thomson Reuters were expecting earnings of a nickel a share. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,285.97 | 1,091.93 | 2,172.99 | 33.92 |
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