Small-cap stocks delivered a lackluster showing Friday, moving mostly in concert with the rest of the slightly higher market as several names weighed things down with various disappointing news.
was off 12.7% to $24.14 on a 41.7% decline in first-quarter income from last year. The freight company posted earnings of 21 cents a share, which was also short of the 30-cent per-share consensus estimate from Thomson Financial. South Korean chipmaker
( PXPL) tumbled 20.7% to 88 cents on widening losses and sinking revenue.
Among other small stocks pressured by disappointing first-quarter results,
Marlin Business Services
fell 12.4% to $20.98 on a 2-cent-per-share profit miss.
( DIET) slid 10.9% to $3.35 after sales fell short, and
dropped 9.9% to $11.80 on a wider-than-expected loss.
, a Richmond, Va., biotech, sold some 20 million shares at a discounted price of 90 cents apiece, as well as five-year warrants for another 2 million at a $1.10-per-share exercise price. Shares fled down 12.9% at 88 cents.
In analyst calls, Matrix Research cut Internet-marketing firm
24/7 Real Media
( TFSM) to buy from strong buy on valuation, and Longbow lowered natural-soda maker
to neutral from buy on the heels of last night's disappointing earnings report. New York-based 24/7 lost 9.5% to $11.19; Seattle's Jones Soda was down 11.6% to $22.29.
On the upside, however,
( MOBE) soared more than 24% to $3.48 after narrowing its first-quarter loss to 2 cents a share (excluding items). Analysts were looking for a nickel-a-share loss. Separately, the Scottsdale, Ariz., company announced that CEO Charles Mollo will retire on June 8, to be replaced by Michael Heil.
, which makes carbon fibers for various uses, surged 18.3% after narrowing its first-quarter loss to a small break-even figure from last year's hefty $1.31-per-share loss. Sales soared 40.2% to $36.7 million, topping the $34.8 million consensus estimate. Shares of the St. Louis-based company added $5.52 to $35.73.
( WON) got an 8% boost to $7.43 after the
New York Post
reported the New York-based radio programmer is preparing to put itself up for sale next month.
More broadly, the Russell 2000 recently edged up to 830.06, and the
SmallCap gained 0.2% to 430.58.