Updated from 2:07 p.m. EST with new stock pricesSmall-cap stocks were on the rise Wednesday, trying to keep up with the major indices. The Russell 2000 was up 1.03% to 712.15, and the S&P SmallCap 600 was up 1.06% to 369.04. Spectrum Control ( SPEC) got clocked, losing 31% to $9.76 on a disappointing fourth quarter. The Fairview, Pa.-based maker of electronic control products posted income of $3.2 million, or 23 cents a share, vs. $2 million, or 15 cents a share in the year-ago quarter. The results fell short of one analyst's expectation for EPS of 25 cents, per Thomson Financial. Also sinking was Premier Exhibitions ( PRXI). The Atlanta-based owner of the Titanic wreck and the "Bodies" human anatomy exhibitions reported third-quarter income of $2.7 million, or 8 cents a share, vs. $2.2 million, or 7 cents a share, a year ago. Analysts were expecting 13 cents a share. The company also lowered 2008 EPS guidance to between 38 cents and 46 cents. The Street is calling for 60 cents. Shares tumbled 14.2% to $7.44. On the winning side, Robbins and Myers ( RBN), a Dayton, Ohio-based maker of chemical, energy, industrial and pharmaceutical equipment, jumped 12.6% to $77.12 after it announcing solid first-quarter results, raised guidance, a stock split and a dividend increase. For its fiscal first quarter ended Nov. 30, the company recorded earnings of $13.9 million, or 80 cents a share, vs. $10.6 million, or 62 cents a share, in 2006. The results beat analyst expectations for $11.4 million, or 67 cents a share. Robbins and Myers raised EPS guidance for 2008 to between $3.55 and $3.75 from between $3.30 and $3.50, while the Street is looking for $3.60.
Building on the strong quarter, Robbins and Myers also announced a 2-for-1 stock split in the form of a share dividend. Shareholders will receive an additional share for every common share they own. The company also increased its quarterly dividend to 7.5 cents a share from 6.5 cents a share, payable Feb. 15 to shareholders of record as of Jan. 25. Meanwhile, shares of Perficient ( PRFT) lifted 14.5% to $17.00 on raised guidance. The Austin, Texas-based provider of e-business solutions raised its fourth-quarter revenue expectations to between $61.2 million and $62.7 million, up from a previous range of $56.3 million to $62.1 million. The average analyst expectation is for revenue of $60 million. Finally, upgrades boosted several of the day's big winners. ICF International ( ICFI), a Fairfax, Va.-based management consulting firm, jumped 18.7% to $26.31 on an upgrade to buy from hold from Stifel Nicolaus. Similarly, Tredegar ( TG), a Richmond, Va., maker of plastic films and aluminum extrusions, advanced 15.4% to $16.28 on a Davenport upgrade to buy from neutral.