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Updated from 2:34 p.m. EDT with new stock prices

Small-cap stocks tagged along with the broader market on a trip to higher ground Thursday. The Russell 2000 was up 0.9% to 745.45, and the S&P SmallCap 600 climbed 0.8% to 393.18.

Ultralife Batteries

(ULBI) - Get Ultralife Corporation Report

, which makes power and communications systems, jumped 31.4% to $12.71. The Newark, N.Y.-based company raised second-quarter revenue guidance to $75 million from between $60 million and $70 million. Analysts surveyed by Thomson Reuters are expecting $60.4 million. For the full year, Ultralife said revenue would be at least $250 million, ahead of the consensus estimate of $240.3 million.

Meanwhile, Atlantic City, N.J.'s

Trump Entertainment

( TRMP) saw shares leap 23.2% to $3.56 on news that the company would sell its Marina Hotel Casino for $316 million.

Elizabeth Arden


surged 17.9% to $15.78. Miramar, Fla.-based Arden announced it would join forces with fellow beauty products purveyor

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Liz Claiborne

( LIZ) to create Liz Claiborne fragrance brands.

On the losing side,

KMG Chemicals

( KMGB), a Houston-based maker of specialty chemicals, traded to new lows, losing 14.2% to $10.72. The company forecast fiscal 2008 revenue in excess of $135 million but predicted earnings per share would decline 10% to 20% from last year's 80 cents. Two analysts surveyed by Thomson Reuters expect revenue of $148.6 million and EPS of 99 cents.

Jinpan International


, which makes cast resin transformers for voltage distribution equipment and is based in Haikuo, China, reported first-quarter earnings of $2.4 million, or 30 cents a share, vs. $1.6 million, or 20 cents a share, a year ago. Revenue increased 47% year over year to $23.8 million. Despite of the year-over-year improvements, shares dropped 15.7% to $37.85.

Finally, shareholders didn't like the way

Men's Wearhouse


looked, selling the stock down 10.4% to $21.17. The Houston-based clothier posted first-quarter EPS of 19 cents, vs. the Street's forecast of 21 cents. For the second quarter, the Wearhouse expects EPS between 69 cents and 73 cents, below analysts' forecast of 82 cents. Wedbush Morgan downgraded the stock to hold from buy.