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Thursday's Small-Cap Winners & Losers

Stein Mart slumps on a lowered profit outlook.
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The market's overall downward trend weighed heavily on small-cap stocks Thursday, as the Russell 2000 Index tracked 1.5% lower to 823.80 and the

S&P

SmallCap 600 Index fell by 1.4% to 427.95.

Disappointing earnings leaned on two small-cap retailers.

Stein Mart

(SMRT) - Get Stein Mart, Inc. Report

slumped 14.5% after meeting fiscal first-quarter earnings expectations but offering lower-than expected guidance for the second quarter.

For the quarter ended May 5, the retailer reported $8.1 million, or 18 cents a share, which was up from last year's $7.6 million, or 17 cents a share. Sales rose 3.1% to $376.1 million, but comparable-store sales decreased 2%. Analysts were looking for 18 cents a share on $376.1 million in revenue. Looking ahead, Stein Mart expects second-quarter earnings of 6 cents to 10 cents a share, far below the 24 cents EPS that analysts are looking for. The stock dropped $2.16 to $12.70.

Another retailer losing ground on earnings was

The Bon-Ton Stores

TheStreet Recommends

(BONT)

. The Pennsylvania-based retailer reported a loss in the fiscal first quarter of $29.3 million, or $1.78 a share, which was wider than its year-ago loss of $10.8 million, or 66 cents a share. Sales grew 31.3% year over year to $737.6 million, but still fell short of the Thomson First Call analyst estimate. Analysts were looking for a loss of $1.09 a share on sales of $763.8 million. The stock was down $4.87, or 9.8%, to $45.08.

Among the winners Thursday was

Greenlight Capital Re

(GLRE) - Get Greenlight Capital Re, Ltd. Class A Report

, which surged in its $195 million public debut on the

Nasdaq

. The Cayman Islands-based reinsurer priced 10.25 million shares at $19 each and also granted the offering's underwriters an option for an additional 1.5 million shares to cover any overallotments. Shares climbed $5.03, or 26.5%, at $24.03.

Taser International

(TASR)

also climbed on news the stun-gun-maker had received four "substantial" orders for its weapon products. Three of the orders were made by domestic law enforcement agencies, in Washington State, Tallahassee, Fla., and Scottsdale, Ariz., and the fourth was a $1.4 million order from an international law enforcement agency. The stock was higher by 53 cents, or 5.6%, at $10.07.