Updated from 2:18 p.m. EDT with new stock prices

As Federal Reserve Chairman Ben Bernanke testified before Congress about the state of the economy, small-cap stocks bobbed along with the broader market. The Russell 2000 was up 0.2% to 712.27, and the S&P SmallCap 600 rose 0.4% to 378.08.

Among the gainers, EXFO Electro-Optical Engineering ( EXFO - Get Report) jumped 21.7% to $5.90 on second-quarter fiscal 2008 earnings. The Quebec City, Canada-based maker of telecom test measurement and monitoring equipment reported that revenue increased 23% year over year to $43.3 million and GAAP income came in at $4 million, or 6 cents a share, vs. $2.7 million, or 4 cents a share, in the year-ago quarter. For its third quarter, EXFO expects revenue between $45 million and $48 million. Analysts polled by Thomson Financial are looking for revenue of $46.9 million.

Also rising, shares of Cupertino, Cailf., Packeteer ( PKTR) added 9.8% to $5.74 after the IT services company rejected a hostile takeover bid from hedge fund Elliott Associates and adopted a "poison pill" provision to dilute the voting power of any single shareholder. Elliott had bid $5.50 a share in cash for Packeteer.

Mobile software developer Smith Micro ( SMSI - Get Report) shares soared 8.6% to $7.04. The Aliso Viejo, Calif.-based company released software that allows users to transfer media from PCs to phones and play MP4 files. Smith Micro also announced it had received a patent grant for mobile, secure management of enterprise infrastructure in real time.

Changzhou, China-based Trina Solar ( TSL) announced today it had inked a long-term supply deal with a subsidiary of GCL Silicon Technology. GCL will now supply Trina with polysilicon for production of solar modules over eight years. Trina said the deal is necessary to support future sales growth. Shares surged 15.3% to $37.80 on the news.

On the losing side, shares of Chordiant Software ( CHRD) plunged 12.7% to $5.41. For the second quarter of fiscal 2008, the Cupertino, Calif.-based enterprise software company forecast revenue between $23.5 million and $25 million and a non-GAAP loss between 11 cents and 6 cents a share. The Street is looking for revenue of $32.3 million and a per-share profit of 11 cents.

Meanwhile, LoJack ( LOJN), which makes technology for tracking and recovering mobile assets such as stolen vehicles, saw shares drop 20.4% to $10.14 on lowered guidance. The Westwood, Mass., company forecast full-year 2008 EPS between 75 cents and 85 cents on revenue ranging from $213 million to $218 million. The Street is looking for EPS of $1.15 on revenue of $233.2 million.

Finally, Verifone ( PAY), a San Jose, Calif., company that makes transaction automation systems, plunged 18.4% to $13.74. Its CFO, Barry Zwarenstein, resigned today in the wake of accounting irregularities.