Updated from 2:21 p.m. EST with new stock prices
Small-cap stocks lifted a hair above the major indices, posting small, hesitant gains on a relatively calm Friday. The Russell 2000 Index was up less than 1% to 767.69, and the S&P SmallCap 600 fared about the same, rising to 398.73.
, one of a few small-cap standouts, soared 36.1% to $7.54 on revised earnings. The Acton, Mass.-based maker of digital video systems announced record third-quarter revenue of $49 million for a profit of $3.3 million, or 11 cents a share, vs. a loss of $1.2 million, or 4 cents a share, in the year-ago quarter. A typographical error had led to misrepresentation of revenue and EPS figures, among other data.
Meanwhile, Hamilton, Bermuda-based bond insurer
Security Capital Assurance
climbed 3.2% to $7.08 on a report from
The Wall Street Journal
that a deal had been struck between the U.S. government and the mortgage industry to stop subprime mortgage interest from resetting to higher rates.
( ABH), a Montreal-based maker of printing paper, jumped 19.7% to $22.46 on an RBC Capital analyst upgrade to outperform from sector perform. The upgrade followed an announcement by AbitibiBowater that, in a cost-cutting measure, it would reduce production capacity by 1 million metric tons in fiscal first-quarter 2008, closing several plants in Canada and Texas.
On the losing side,
slumped 27.7% to $10.81 after
reported that the U.S. Marine Corps would reduce by nearly 40% purchases of the Lasdon, S.C., company's Mine-Resistant, Ambush-Protected (MRAP) vehicles.
shares fell on earnings for second-quarter fiscal 2008. The Santa Clara, Calif.-based company posted income of $1 million, or 6 cents a share, compared with $176,000, or 4 cents a share, in the year-ago quarter. The results were in line with estimates by two analysts polled by Thomson Financial, but that wasn't enough for investors. Shares fell 11.4% to $5.22.