Small-cap stocks were taking on gains alongside the broader markets early Friday. The Russell 2000 was tacking on 1.69% to 714.27 while the S&P SmallCap 600 was gaining 1.53% at 372.14.
High flying in early trading action Friday was
, the stock was moving 15.3% to $16.31. The Queensbury, NY.-based developer of medical devices had fiscal fourth-quarter profit issues due to a lawsuit. For the three months that ended on June 30, net income was $519,000 or 2 cents a share; this includes a $6.7 million settlement of a patent dispute with
VNUS Medical Systems
Locked in a house of pain was
, the stock was shedding 43.5% to $5.05. Based out of Niwot, Colo., the popular shoemaker softened second-quarter profit and sales outlook - this led to an analyst downgrade. CROX expects profit between 3 to 7 cents a share which is significantly different from 42 to 47 cents per share in an earlier forecast. Thomson analysts were expecting 41 cents a share for the second quarter. Mitch Kummetz, a Baird analyst, downgraded the company to neutral from outperform.
Seeing early gains Friday was
( UAUA), up 10.2% to $8.21. The airline transportation provider based out of Chicago was being downgraded by
. The long-term corporate credit rating was modified to B- from B with a negative outlook.
Taking on sizable losses,
was falling 27.5% to $7.53. The Santa Clara, Calif.-based tech company manufacturers and services systems for genetic analysis. Friday,
downgraded AFFX to hold from buy.
Experiencing pain early Friday was
, losing 12.2% to $20.27. The Union City, Calif.-based developer of portable blood analysis systems was downgraded by
Sun Trust Rbsn Humphrey
to neutral from buy.
This article was written by a staff member of TheStreet.com.