Updated from 2:34 p.m. EDT with new stock pricesSmall-cap stocks climbed along with the broader market Thursday, and specialty retailers were among the biggest gainers. The Russell 2000 added 2.6% to 762.87, and the S&P SmallCap 600 climbed 2.3% to 401.86. Among the winners, Hot Topic ( HOTT, a teen apparel retailer based in City of Industry, Calif., announced that same-store sales for May fell 0.2%. Analysts surveyed by Thomson Reuters had expected a 2.4% decline in same-store sales. Friedman Billings also upgraded the stock to outperform from market perform. Hot Topic shares added 16.9% to $6.16. New York specialty retailer Cache ( CACH tacked on 14.4% to $14.58. The company reported a 5% increase in same-store sales for May. A year ago, same-store sales declined 2%. Roth Capital upgraded the stock to buy from hold. Collective Brands ( PSS shares rose 14.1% to $12.86. The Topeka, Kan.-based shoe-store operator posted first-quarter earnings, excluding charges, of $42.2 million, or 67 cents a share, vs. $38.9 million, or 59 cents a share, a year ago. The Street was looking for 61 cents a share. On the losing side, Newark, N.J.'s IDT Corp. ( IDT - Get Report), a telecommunications company, reported a third-quarter fiscal 2008 loss of $82.2 million, or $1.10 a share, vs. a loss of $15.9 million, or 20 cents a share, a year ago. Revenue fell 6.6% year over year to $453.2 million. The stock was trading down 11.3% at $2.97. Also falling, Citizens Republic ( CRBC, a Flint, Mich.-based regional bank, tumbled 15.8% to $4.37. The company announced it was raising $200 million through offerings of common and preferred stock.
Home goods company Blyth ( BTH, which is based in Greenwich, Conn., fell 13.9% to $16.63. Blyth reported first-quarter earnings of $1.2 million, vs. $11.7 million a year ago. Excluding charges, earnings per share were 18 cents, vs. 34 cents in the year-ago quarter. Wall Street had predicted 28 cents a share. Finally, San Francisco's UCBH Holdings ( UCBH, the holding company for United Commercial Bank, said it was raising $135 million by selling preferred stock for general corporate purposes. Shares fell 4% to $3.81.