Small-cap stocks put in a run to the upside Wednesday. The Russell 2000 was up 0.7% at 742.11, and the S&P SmallCap 600 added 0.8% to 391.47.

Among the biggest gainers, CommVault Systems ( CVLT - Get Report), which makes data management applications, saw shares rise 14% to $16.20. The Oceanport, N.J., company announced after the market close tuesday non-GAAP fiscal fourth-quarter earnings of $8.5 million, or 19 cents a share, vs. $6 million, or 14 cents a share, a year ago. Analysts surveyed by Thomson Reuters were looking for 18 cents a share. CommVault guided for revenue of about $245 million for fiscal 2009, ahead of the Street's view of $239.9 million.

Meanwhile, Zhuhai, China-based China Architectural Engineering ( RCH), which designs, installs and maintains structural glass and light structure building systems, climbed 46.5% to $8.70 on first-quarter earnings. The company posted net income of $5.2 million, or 9 cents a share, compared with $1.7 million, or 3 cents a share, in the year-ago quarter. Analysts had predicted EPS of 3 cents.

Homebuilder Standard Pacific ( SPF), which had tumbled Monday on a widened first-quarter loss, surged Wednesday 8.2% to $2.92. The Irvine, Calif.-based firm announced that it completed an agreement with its bank group to extend and expand its existing waiver of default on its financial covenants. The extension is granted until Aug. 14, Standard Pacific said.

China Automotive Systems ( CAAS - Get Report), which makes power steering systems for autos, reported that its first-quarter income more than doubled year over year to $4.4 million, or 18 cents a share. Revenue also increased 46% year over year to $41.5 million, the Jing Zhou City, China, firm announced. Shares rocketed up 32% to $7.21.

On the losing side, Uranium Resources ( URRE) tapped a new 52-week low. A Lewisville, Texas-based explorer and miner of uranium properties said it's raising $14.3 million in a private offering of common stock at $4.34 a share. The funds will go to expansion of its Texas assets, Uranium Resources said. The stock dropped 9.2% to $4.38.

American Apparel ( APP) shares fell 12% of their value to $7.45 on first-quarter earnings. The Los Angeles clothier said it made $1.1 million, or 2 cents a share, vs. $1.7 million, or 3 cents a share, a year ago, falling short of two analysts' earnings forecast of a nickel a share.

Finally, Elixir Gaming Technologies ( EGT) also fell to a new 52-week low. The Las Vegas company, which provides gaming technology solutions, announced first-quarter loss of $5.3 million, or 5 cents a share, vs. a loss of $3.4 million, or 10 cents a share, a year ago. The Street was looking for a 3-cent per-share loss. The stock slumped 25% to $1.34.