Updated from 2:38 p.m. EST with new stock prices

Small-cap stocks opened down along with the major indices on Monday but trailed behind as the broader market edged toward recovery. The Russell 2000 Index and the S&P SmallCap 600 were both down around 1%, at 752.06 and 392.31, respectively.

Emeryville, Calif.-based Jamba ( JMBA) climbed 9.1% to $3.70 on the smoothie-stand chain's announcement that it would join with Nestle USA to offer Jamba-brand ready-to-drink beverages, due to launch in the second quarter of 2008.

Elsewhere, supply-chain management solutions provider CMGI jumped 29% to $13.33 as the Waltham, Mass., company announced fiscal first-quarter earnings that far exceeded expectations. CMGI posted non-GAAP income of $17.1 million, or 19 cents a share, vs. $10 million, or 20 cents a share, in the year-ago quarter. The sole analyst surveyed by Thomson Financial was expecting 10 cents a share.

Another big gainer was America's Car-Mart ( CRMT - Get Report), shares of which leapt 16.1% after an earnings beat. The Bentonville, Ark., auto retailer swung to a profit in its fiscal second quarter of 2008, posting income of $3.5 million, or 29 cents a share, vs. a loss of $1.9 million, or 16 cents a share, in the year-ago quarter. Analysts were expecting earnings of 16 cents a share.

Falling on earnings, Layne Christensen ( LAYN) lost 10.41% to $51.45 after posting third-quarter income of $9.9 million, or 59 cents a share, vs. $7.8 million, or 50 cents a share, in 2006. This beat by 2 cents the analyst consensus estimate of 57 cents. Despite the good performance, Layne guided very conservatively, calling the fourth quarter "the company's toughest year-over-year comparison."

Shares of Iconix ( ICON - Get Report), a New York consumer brand marketer, were also slipping as CFO Warren Clamen exercisezed options for 80,000 shares of the company and then sold them all the same day. Shares lost 4.3% to $21.63.

Also losing ground, Bradenton, Fla.-based Gevity HR took a 4.9% tumble to $4.90 after announcing it would pay a dividend of 9 cents a share, payable on Jan. 31. On Monday, the stock had soared 25% on a Wall Street upgrade.