Small-Cap Winners & Losers: Cobra Electronics - TheStreet

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


, 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


, 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.

Rounding out the winners was Bala Cynwyd, Pa.-based

Philadelphia Consolidated Holding


, which deals with personal and commercial property and insurance. Its shares were up 63% to $58.05. The company announced early Wednesday that it would be acquired by Japanese insurer

Tokio Marine Holdings

for $4.7 billion, or $61.50 per share.

Among the losers was



, a semiconductor provider out of Warren, N.J. Shares fell 30% to $6.21 on third quarter EPS forecasts of 1 to 5 cents versus analyst estimates of 13 cents. The company was also given a downgrade by Jefferies & Co. to hold from buy.

Eden Prairie, Minn.-based communications provider

ADC Telecommunications

(ADCT) - Get Report

was down 23% to $10.25 after cutting it's full-year outlook. The company announced it was now expecting fiscal year EPS of 18 to 26 cents vs. previous estimates of 31 to 39 cents. It also received a downgrade from Friedman Billings to market perform from outperform.

Also falling was

Arkansas Best


, the Fort Smith, Ark.-based motor carrier transport company. Its shares fell 16% to $37.73 on second-quarter earnings of $16.2 million, or 64 cents per share, vs. $19.6 million, or 78 cents a share one year ago. Thomson Financial analysts were looking for EPS of 75 cents.

This article was written by a staff member of