Small-cap stocks got pummeled Wednesday, trading mostly under the broad market's volatile gallop into the red.
Taking particularly heavy losses was
after predicting that cost overruns will partially impact fourth-quarter results. The Tulsa, Okla., construction company also reiterated its prior fiscal 2007 revenue guidance, the higher end of which is just shy of Wall Street expectations, and issued an in-line fiscal 2008 sales outlook. Shares were plunging 16.1% to $24.43.
gave up 13.5% after posting a fourth-quarter loss of $495,000, or 8 cents a share, to reverse a year-ago per-share profit of 18 cents. Revenue plunged some 41% to $8.9 million. Shares of the Clearwater, Fla., company, which designs electrical-safety products, recently traded at $4.50.
Also hurting on poor financials was
, which sells online wireless services. The Washington, D.C., company widened its first-quarter continuing-operations loss to 72 cents a share from 12 cents a year ago. Analysts polled by Thomson Financial were seeking a 34-cent loss. Shares were off 11.5%, or 87 cents, to $6.73.
Matrix and Inphonic helped to drag down the Russell 2000, which was lately sliding 0.8% to 841.49. The S&P SmallCap Index performed only marginally better as it shed 0.7% to 437.75.
, however, was among today's small-cap winners, leaping 18.3% to $33.95 after striking a deal with a Hong Kong-based
subsidiary. The two companies agreed to work together on Fuel Tech's Fuel Chem program, which incorporates proprietary energy-efficient technology, and may additionally form a joint-venture company after a yearlong exclusivity period.
, based in Cincinnati, Ohio, boosted its fiscal 2007 earnings guidance by at least 2 cents from its last update. It now expects between 90 cents and 92 cents a share; analysts are looking for 85 cents. Shares bounced $2.31 or 15.1%, to $17.58.
agreed to sell its Power Electronics Division to Japan-based
for $85 million in cash. Shares of the company, which makes electrical-power storage systems, were climbing 11.9% to $5.83. And
, a China-based plastic-films maker, leapt 10.1% after saying external construction on a new factory should finish by the end of this month. Shares gained 74 cents to $8.04.