Small-cap stocks were webbed into the erratic movements of the major indices Wednesday, even amid a confluence of positive financials from names like Dawson Geophysical ( DWSN).

Shares of the Texas-based company soared 22.3% to $66.79 on a leaping fiscal third-quarter profit of $7.6 million, or 98 cents a share. Year-ago income totaled just 56 cents a share. The company, a purveyor of seismic-data-acquisition services for oil and gas companies, also brought in $68.6 million in revenue to beat the sole analyst's $56.9 million target from Thomson Financial.

Giga-tronics ( GIGA), which makes test and measurement equipment, catapulted 21% after swinging to a fiscal first-quarter profit of $92,000, or 2 cents a share. Sales ramped up 36.7% to $4.6 million from last year. Shares of the San Ramon, Calif., company were trading at $2.25.

Chicago software firm SPSS ( SPSS) tripled its second-quarter income year over year to 36 cents a share, or 3 cents better than the mean Street forecast, and fellow tech name Syniverse ( SVR) comfortably topped top- and bottom-line expectations. Florida-based Syniverse, a purveyor of services for the wireless industry, also bumped up its 2007 sales outlook by at least $10 million to range between $345 million and $350 million. Analysts are seeking $335.5 million.

SPSS jumped $6.50, or 15.8%, to $47.54; Syniverse was up 9.3% at $14.70.

On the other hand, Beazer Homes USA ( BZH) dropped precipitously on rumors of a forthcoming bankruptcy filing, which the Atlanta-based homebuilder today called "scurrilous and unfounded." Shares fell as much as 38% today before hoisting themselves up to trade less deeply in the red. Lately they were down 18% at $11.47.

Houston Wire & Cable ( HWCC), a wire- and cable-products distributor, plunged 25.4% on sliding second-quarter per-share income of 40 cents that came in 4 cents short of consensus. Overall earnings edged up slightly to $8.4 million, and the company also declared its first-ever quarterly dividend; still, shares were down $6.55 to $19.22.

Finally, Netlist ( NLST) lost 15.7% to $2.10 after the Irvine, Calif., memory-chipmaker said chief financial officer Lee Kim will depart effective Aug. 14. Finance V.P. Gail Itow and CEO Chuck Hong will share his duties until a permanent replacement is found.

More broadly, the Russell 2000 and the S&P SmallCap 600 were respectively losing 1.2% and 1.1%.

If you liked this article you might like

Lackluster Finish for U.S. Stocks

Lackluster Finish for U.S. Stocks

Stocks Continue to Waver at the Flat Line

Stocks Continue to Waver at the Flat Line

Oil Slides as Stocks Post a Mixed Showing

Oil Slides as Stocks Post a Mixed Showing

Stocks Flutter Near the Flat Line

Stocks Flutter Near the Flat Line

Wall Street Falls Amid Inflation Talk

Wall Street Falls Amid Inflation Talk