Small-cap stocks lost their footing early Wednesday along with the broader market as a weak durable-goods number dented investor confidence.
Airlines suffered on increasing oil prices and concerns about waning consumer demand. Shares of Denver-based
( FRNT) lost 8.5% to $2.43, while Houston's
( XJT), which operates as Continental Express, lost 8.7% to $2.53.
San Diego-based women's retailer
( CHIC) fell 14.4% to $17.20. The company forecast third-quarter earnings per share between 27 cents and 30 cents. Analysts polled by Thomson Financial are looking for EPS of 41 cents.
( CORS), the Chicago-based holding company for Corus Bank, sank on a
Wall Street Journal
report that the company's exposure to commercial real estate development loans brings extensive risk to its portfolio. Shares slipped 3.8% to $11.20.
Cooper Tire & Rubber
, a Findlay, Ohio, maker and vendor of replacement tires, lost 10% to $15.53 on a KeyBanc Capital Markets downgrade to hold from aggressive buy.
On the winning side,
Capital Product Partners
, a Piraeus, Greece-based operator of double-hull product tankers, jumped 11% to $18.70. JPMorgan initiated coverage of the company with an overweight rating.
shares climbed 10% to $11.70. The Littleton, Colo., maker of thin-film photovoltaic modules announced it may replace troubled broker
( BSC) as lead underwriter or seek additional backers for its $80 million equity offering announced March 14.
More broadly, the Russell 2000 gave up 0.6% to 700.95, and the S&P SmallCap 600 ticked down 0.7% to 371.63.