Small-Cap Winners & Losers: Georgia Gulf - TheStreet

Small-Cap Winners & Losers: Georgia Gulf

Georgia Gulf and Kenneth Cole slide on earnings shortfalls and analyst downgrades.
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Small-cap stocks joined the broader market in trading right along the baseline Wednesday, as earnings reports caused the biggest moves for individual names.

Among the losers, Atlanta-based

Georgia Gulf

(GGC)

fell 25% to $4.46. For the first quarter, the maker of chlorovinyls and aromatic chemicals reported a widened loss of $69.5 million, or $2.02 a share, vs. $34.6 million, or $1.01 a share, a year ago. The loss includes a writedown of $26.1 million, or 58 cents a share, stemming from the shuttering of an Oklahoma City PVC resin plant. Analysts, who typically do not include one-off charges in their estimates, were expecting a loss of 38 cents a share, per Thomson Financial. Citigroup downgraded the stock to sell from hold.

Also falling,

Kenneth Cole

(KCP)

, a New York purveyor of footwear and handbags, plummeted 17% to $15.20. The company reported first-quarter earnings of 4 cents a share on revenue of $122.5 million. The Street was looking for 3 cents a share. Kenneth Cole also guided for a loss between 11 cents and 13 cents a share for the second quarter, below the consensus estimate of an 8-cent per-share profit. CL King downgraded the stock to neutral from strong buy.

Meanwhile,

OraSure Technologies

(OSUR) - Get Report

, which makes oral fluid specimen collectors, saw shares sink to new lows Wednesday, recently tumbling 18% to $5.41. The company after Tuesday's market close said first-quarter profit increased 35% year over year to $2 million, or 4 cents a share. Analysts had predicted 3 cents a share, but OraSure also guided for a second-quarter loss between 6 cents and 7 cents a share. The Street expects a loss of a penny a share.

Also tradeing to new lows Wednesday was

Greatbatch

(GB)

, which recently slipped 13% to $15.99. The Clarence, N.Y., company, which makes batteries for medical use, produced non-GAAP earnings of $3.6 million, or 16 cents a share, in the first quarter vs. $8.8 million, or 36 cents a share, a year ago. Analysts were looking for EPS of 26 cents.

On the winning side,

Multi-Fineline Electronix

(MFLX)

added 17% to $21.85. The Anaheim, Calif., maker of flexible printed circuit boards announced fiscal second-quarter earnings of $10.4 million, or 41 cents a share, up from $3.1 million, or 12 cents a share, a year ago. The Street had forecast earnings of 27 cents a share.

LMI Aerospace

(LMIA)

shares soared 13% to $21.64. The St. Charles, Mo., provider of structural components for the aerospace and defense industry announced first-quarter income of $4.5 million, or 40 cents a share, vs. $2.2. million, or 20 cents a share, a year ago. Analysts had predicted 34 cents a share.

Finally, electrical-equipment maker

Powell Industries

(POWL) - Get Report

, which is based in Houston, reported fiscal second-quarter earnings of $6 million, or 53 cents a share, vs. $2.3 million, or 20 cents a share, in 2007. Wall Street had forecast EPS of 40 cents. Shares climbed 14% to $46.58.

More broadly, the Russell 2000 was off 0.6% to 725.11, and the S&P SmallCap 600 was off 0.4% at 382.72.