Small-Cap Winners & Losers: Standard Pacific
Updated from 1:24 p.m. EDT with new stock prices
Small-cap stocks posted hesitant gains on Tuesday as investors returned from an extended holiday weekend.
Among the gainers,
Standard Pacific
(SPF)
, an Irvine, Calif.-based homebuilder, saw shares rise 49.1% to $3.31. The company announced it had secured $530 million in equity funding from MatlinPatterson. Standard Pacific said the move will strengthen its balance sheet and enhance financial flexibility.
Meanwhile,
Quantum Fuel Systems
(QTWW)
, an alternative energy company also headquartered in Irvine, said its German solar partner Asola got a $17 million deal to supply Sunworx with photovoltaic modules. Shares gained 16.3% to $2.36.
Austin, Texas'
Guaranty Financial
( GFG) jumped 16.2% to $6.31 on news that it had gotten $38 million in capital from Robert Rowling, acting through TRT Financial Holdings.
Jamba Juice
(JMBA) - Get Report
added 13.6% to $2.50 ahead of its earnigns report after the market close. The Emeryville, Calif., juicer announced a joint venture with Nestle to launch a ready-to-drink line of beverages.
On the losing side,
Flotek Industries
(FTK) - Get Report
, a Houston, Texas-based provider of products and services to the energy and mining industries, took a 10.3% tumble to $17.20. The company lowered its 2008 EPS guidance to $1.12 to $1.22 from a previous look of $1.50 to $1.60. The Street is looking for $1.24 a share.
Finally,
United Community Banks
(UCBI) - Get Report
, a multibank holding company, fell 13.5% to $11.50 on a Sterne Agee downgrade to sell from hold.
More broadly, the Russell 2000 was up 1.4% to 734.23, and the S&P SmallCap 600 gained 1.3% to 388.04.