Updated from 1:27 p.m. EST with new stock prices

Small-cap stocks climbed higher along with the broader market Wednesday. The Russell 2000 ticked up 0.9% to 687.02, and the S&P SmallCap 600 rose 1% at 365.49.

Shares of


( PKTR), which provides wide-area network application delivery systems, rocketed 28% to $4.94 on a buyout offer. Major shareholder Elliott Associates offered $5.50 a share in cash for the Cupertino, Calif., company. The board said it is evaluating the unsolicited offer, which represents a 42% premium over Tuesday's closing price.

Meanwhile, solar module products maker

Canadian Solar

(CSIQ) - Get Report

jumped 17% to $22.22 on fourth-quarter earnings and forward guidance. The Markham, Canada-based firm swung to a profit of $5.5 million, or 20 cents a share, from a loss of $5.1 million, or 21 cents a share, in the year-ago quarter. Analysts polled by Thomson Financial were looking for a profit of 18 cents a share. For the first quarter, the company forecast revenue in the range of $150 million to $155 million, ahead of the Street's view of $138.7 million.

Maidenform Brands


rose 16% to $13.97. For the fourth quarter, the Bayonne, N.J., maker of intimate apparel announced that profit, excluding certain items, nearly doubled year over year to $6.3 million, or 27 cents a share. Wall Street was expecting EPS of 20 cents.

On the losing side, Atlanta's

American Software

(AMSWA) - Get Report

tumbled 31.4% to $6.03 on preliminary fiscal third-quarter results. The developer of software and services for enterprise management and collaborative supply chain solutions expects adjusted income of $2.2 million, or 8 cents a share, vs. $2.5 million, or 10 cents a share, a year ago. One analyst surveyed by Thomson Financial was expecting EPS of 12 cents.

Also falling,

NCI Building Systems

(NCS) - Get Report

shares fell 5.1% to $22.34. After posting disappointing first-quarter earnings and a cautious 2008 outlook Monday, the Houston, Texas-based maker of metal products for the nonresidential construction industry was downgraded today by SMH Capital to neutral from buy.