Updated from 1:23 p.m. EDT with new stock prices

Small-cap stocks rolled over Monday along with the broader market. The Russell 2000 gave up 0.4% to 735.81, and the S&P SmallCap 600 slipped 0.5% to 389.24.

Among the losers, Fremont, Calif.'s

Smart Modular

( SMOD) lost 15.9% to $5.41. The semiconductor company lowered guidance for its fiscal third quarter. Smart Modular now expects revenue between $150 million and $155 million and non-GAAP earnings per share of 5 cents to 7 cents. Analysts surveyed by Thomson Reuters are looking for EPS of 17 cents and revenue of $164.9 million.

Meanwhile, gun maker

Smith & Wesson

(SWHC)

announced it was raising $31.9 million in a public offering. The Springfield, Mass., company said it would use the money to repay bank debt and for general corporate purposes. Shares plummeted 8.6% to $5.64.

Universal Technical Institute

(UTI) - Get Report

, a Phoenix, Ariz.-based educator, fell 6.9% on a Banc of America Securities downgrade to sell from neutral.

Several stocks eked out gains on the down day. Chicago Heights, Ill.'s

Esmark

(ESMK)

, a steel services company, rose 16.9% to $18.00. The company defended its proposed merger with Essar Steel from objections by the United Steelworkers Union, saying it has obeyed conditions set forth in its collective bargaining agreement. Essar had previously offered $17 a share to buy Esmark.

Enova Systems

(ENA)

, which makes digital power management systems, surged 33.3% to $5.61. The Torrance, Calif.-based firm announced it will supply IC Bus, owned by

Navistar

, with its Post Transmission Parallel Hybrid Electric drive technology for IC Bus' hybrid school buses. Enova said the deal is worth $120 million.