Updated from 1:23 p.m. EDT with new stock pricesSmall-cap stocks surged out of the gate Tuesday, breaking a multiday losing streak. The Russell 2000 was up 4.6% at 673.78 and the S&P SmallCap 600 rose 3.8% to 357.84. Valence Tech ( VLNC), an Austin, Texas-based maker of phosphate-based lithium-ion rechargeable battery technology, jumped 19.3% to $3.83. The company announced it planned to expand manufacturing capacity to $35 million to $50 million per quarter by March 2009 so it can meet demand for its products. Valence also predicted gross profit margins of 30% of revenue and operating profit between 17% and 20% of revenue. Shares of Port Washington, N.Y., direct marketing firm Systemax ( SYX) climbed 31.5% to $11.85 after announcing fourth-quarter earnings Monday after the close. The company posted a 19% year-over-year increase in revenue to $769 million. Net income, which included a tax-related gain of $4.2 million, or 11 cents a share, leaped to $24 million, or 64 cents a share, from $8 million, or 22 cents a share, in 2006. The company will also pay a special dividend of $1 a share on April 2 to shareholders of record on March 21. Global Sources ( GSOL) climbed 34.2% after posting a fourth-quarter earnings beat and receiving a Wall Street upgrade. The China-based business-to-business media company posted adjusted earnings of $12.5 million, or 26 cents a share, up from $9.3 million, or 20 cents a share, in the prior-year quarter. The two analysts polled by Thomson Financial expected EPS of about 16 cents. Citigroup upgraded Global Sources from hold to buy. Shares traded $3.66 higher, to $14.36. Capstead Mortgage ( CMO) shares rose 23.7% to $12.41. The Dallas, Texas-based real estate investment trust last night declared a first-quarter dividend of 52 cents payable April 21 to shareholders of record as of March 31. On the losing side, Superior Well Services ( SWSI) fell 22.5% to $19.32. The Indiana, Pa.-based provider of well-site solutions to oil and natural gas companies posted fourth-quarter income of $7 million, or 30 cents a share, down from $9.8 million, or 49 cents a share, a year ago. Analysts polled by Thomson Financial were looking for 52 cents a share. This morning, Keybanc Capital Markets downgraded the stock to hold from buy. Jones Soda ( JSDA) sank 34.1% after expenses hit fourth-quarter earnings. The Seattle-based beverage company posted a net loss of $10.2 million, or 39 cents a share, compared to a net profit of $2.1 million, or 8 cents per share, a year ago. Excluding items, the company lost 18 cents a share, but analysts were looking for a narrower loss of 3 cents a share. The stock traded down $1.48 to a new low of $2.86. Finally, shares of Spartech ( SEH) tumbled 19.3% to $11.06. Monday evening, the Clayton, Mo.-based intermediary processor of engineered thermoplastics announced a first-quarter loss of $3.5 million, or 12 cents a share, vs. a profit of $8.1 million, or 25 cents a share, in the year-ago quarter. Revenue shrank to $335.1 million from $347.3 million. Two analysts covering the stock were looking for a profit of 13 cents a share.
HOST // Robert Powell
Retirement Planning Event
More from Investing
Buy Chevron and Exxon Mobil on Momentum and Dividends
Buy weakness on Chevron and Exxon Mobil given strong technical momentum and solid dividends. .
Thailand Takes to the Polls With Investment in the Balance
Sunday's elections in Thailand have the potential to provide a big boost to the nation's economy - and to Thai stocks as well.
Jim Cramer: Stay the Course Because the Recession Is Not Coming
You can't stop the rain coming down on this market until you get a host of people to realize there are bargains even if we have a big slowdown.
Why Corporate Diversity Is Important, According to Shaquille O'Neal
Shaquille O'Neal explains why corporate diversity is important, his best and worst investing tips and the reasons that he decided to join Papa John's board.