Updated from 2:45 p.m. EST with new stock pricesSkipping back and forth along the baseline, small-cap stocks couldn't get much going Tuesday as earnings trouble brought down the day's biggest losers. Shares of LECG ( XPRT) hit new lows, falling by 34% to $8.13, after shaving its fourth-quarter earnings forecast. Excluding charges, the Emeryville, Calif.-based provider of economic and financial analysis now expects revenue in the range of $87 million to $89 million, resulting in earnings of 13 cents to 14 cents a share, down from previous guidance for EPS of 24 cents to 26 cents. Two analysts polled by Thomson Financial are expecting EPS of 25 cents. Also falling was Kemet ( KEM - Get Report). The Simpsonville, S.C.-based maker of integrated circuits dropped 9.7% to $5.15 after posting non-GAAP income of $5.5 million, or 7 cents a share, vs. $10.6 million, or 13 cents a share, a year ago. The Street had expected EPS of 14 cents. One of the few big gainers, New York's Quadra Realty blasted off 33.7% to $10.64 on news that Hypo Real Estate Capital Corporation would buy 65% of Quandra's outstanding stock for about $10.65 a share. Quadra, a commercial real estate finance company, also announced it would pay a dividend of about 35 cents to shareholders on the date of expiration of the tender offer, resulting in an total value of $11 a share for investors. This price tag represents a 38% premium over the stock's close on Monday. Shares of JetBlue ( JBLU - Get Report) took off 20.2% higher to $5.94 after posting a fourth-quarter loss that was narrower than the Street's forecast. The Forest Hills, N.J., airline announced earnings of $4 million, or 2 cents a share, vs. $17 million, or 10 cents a share, in 2006. Analysts polled by Thomson Financial were expecting a loss of 5 cents a share. JetBlue's rosy numbers and lower oil prices help bring shares of Phoenix, Ariz.-based sector buddy Mesa Air ( MESA) up 2.9% to $3.25 along with other airlines. Meanwhile, UBS handed out an upgrade to Arris ( ARRS), raising its rating to buy from neutral. The Suwanee, Ga.-based communications technology company jumped 5.7% to $8.33. More broadly, the Russell 2000 rose 0.4% at 705.44, and the S&P SmallCap 600 gained 0.7% to 369.96.
More from Investing
Salesforce's Earnings and Guidance Aren't Quite as Impressive as They Look
Salesforce's Q2 performance was strong but its acquisitions muddy the year-over-year comparisons. Plus, its valuation gives its shares little margin for safety.
A Pair of Rare Disease Biotech Concerns Worth a Good Look
Alexion Pharmaceuticals is a solid company that is the subject of acquisition rumors and Amicus Therapeutics has a key drug off to a strong start.
What's the Difference Between Monetary and Fiscal Policy?
It's all about interest rates and taxes for people and businesses.
Facebook Knew of Potential Cambridge Analytica Issues as Early as Sept. 2015
Internal documents show Facebook employees knew that Cambridge was potentially misusing user data earlier than previously thought. Facebook says there were two separate incidents, however.