Small-cap stocks languished in the red Friday, under pressure from the broad market and from poor earnings at names like Krispy Kreme ( KKD).

The doughnut purveyor sank 36.8% after its fiscal second-quarter loss widened sixfold year over year to 42 cents a share, or $27 million, on slipping revenue of $104.1 million. That includes $22.1 million in impairment charges and least termination costs vs. $382,000 last year as the company closed underperforming stores and divested its Illinois manufacturing and distribution facility.

Krispy Kreme shares sank $2.33, to $4, to pressure the Russell 2000, which plunged some 2%, to around 776. The S&P SmallCap 600 was down 2% to about 409.

The tech sector, meanwhile, delivered a small-cap loser in American Software ( AMSWA). Shares slid 14% to $10.08 after the Atlanta-based application-software firm reported that it made $2.2 million, or 8 cents a share (adjusted) in the fiscal first quarter -- 2 cents higher per share than last year, but also 2 cents below the sole analyst's estimate from Thomson Financial.

Near the top of today's small-cap winners, however, was China Technology Development Group ( CTDC). Shares of the Hong Kong business-software firm soared more than 29% after announcing it's entering the solar-energy sector, having struck a deal to make and sell a product developed by thin-film-photovoltaics company Terra Solar Global. China Tech stock surged $1.41, to $6.20.

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