Small-caps struggled Tuesday, as the Russell 2000 recently fell 1.9% to 741.37 and the S&P Small-Cap 600 slipped 0.9% to 386.04, registering wider losses than the broader market indices.
There were several individual winners, however. Shares of
rose 16.6% to $9.87 after the Lakewood, Colo., molybdenum miner announced it would enter a strategic alliance with
Monday. Luxembourg-based ArcelorMittal, the world's largest producer of steel, agreed to purchase a 12.6% stake in outstanding shares of General Moly for about $70 million. Arcelor Mittal, a large-cap stock, was also rising, 3% to $70.42.
Meanwhile, Redmond, Wash.-based
jumped 10% to $33.32 after announcing fiscal fourth-quarter earnings that included year-over-year top-line growth of 30%. The travel-management software company reported income of $4.1 million, or 10 cents a share, compared to $1 million, or 3 cents a share, a year ago. Analysts polled by Thomson Financial expected 9 cents a share.
Also rising on earnings was direct marketer
. The Minneapolis company posted a third-quarter loss of $5.7 million, or 16 cents a share, wider than $3.1 million, or 9 cents a share, loss it posted in the year-ago quarter. Two analysts polled by Thomson Financial expected a loss of 13 cents a share. The company announced it was searching for a new CEO and that it is engaging in a joint review of its business with consulting firm Alvarez & Marsal. ValueVision reaffirmed annual guidance for low single-digit sales growth and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $5 million to $10 million. Shares floated up 4% to $5.18.
was gaining 7.1% to $13.51 after Citigroup upgraded the Memphis, Tenn., maker of cigarette filters to buy from sell. Similarly, Pittsburgh-based outsourcing company
leapt 17% to $7.78 after Roth Capital upgraded it to buy from hold.
Among the losers was
( ZL). Shares took a 30% plunge to 87 cents as the Ottawa tech company lowered guidance for third quarter fiscal 2008. It had previously forecast third-quarter revenue between $55 million and $58 million for a loss of between 8 cents and 10 cents a share. It now projects revenue between $48 million and $51 million for a loss of 13 cents to 15 cents a share.
( HRAY) was not cheering as its stock fell 16% to $3.34 on third-quarter earnings results. The Beijing artist-development and music distribution company swung to a loss of $11.5 million, or 53 cents a share, from a profit of $1.6 million, or 7 cents a share, in the year-ago quarter. Analysts were expecting earnings of 2 cents a share.