Small-cap stocks as well as the broader market experienced a short rise before falling back toward opening levels on Wednesday. The Russell 2000 Index was down less than 1% to 716.75 while the S&P 500 was up less than 1% to 1,280.85.
Starting off among the winners was Cobra Electronics(COBR Quote), the Chicago-based mobile communications manufacturer. Its stock rose 36% to $2.87 on second-quarter earnings of $1.7 million, or 26 cents per share, vs. a loss of $0.4 million, or 7 cents a share, a year ago. Analysts polled by Thomson Financial were looking for EPS of 1 cent.
Chuck E. Cheese restaurant franchise operator CEC Entertainment(CEC Quote), out of Irving, Texas, soared 19% to $35.27 on second-quarter earnings of $11.3 million, or 48 cents a share, vs. $8.5 million, or 26 cents a share one year ago. The reported earnings beat Thomson Financial EPS estimates of 31 cents. ...
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