Small-cap stocks opened lower Tuesday and stayed in the red as their blue-chip counterparts hesitated closer to the baseline. The Russell 2000 gave up 0.7% to 730.99, and the S&P SmallCap 600 slipped 0.5% to 386.16. Among the losers, CompuCredit ( CCRT), an Atlanta-based provider of credit and related services, traded well below its 52-week low Tuesday. A Wall Street Journal report stated that federal regulators may seek more than $100 million in fines and restitution related to deceptive marketing practices. The stock recently fell $2.29, or 26%, to $6.50. Waltham, Mass.-based CMGI ( CMGI), which provides supply chain management solutions, announced a third-quarter loss of $2.6 million, or 5 cents a share, down from a profit of $9.4 million, or 19 cents a share, a year ago. The company lowered its revenue outlook to between $1.05 billion and $1.1 billion, down from a previous forecast of $1.1 billion to $1.15 billion. Shares tumbled 24% to $11.36. Synchronoss Technologies ( SNCR), which provides multichannel transaction management solutions and is based in Bridgewater, N.J., said it will not participate in on-site retail store activations associated with Apple's ( AAPL) new 3G iPhone. Synchronoss already noted this development when providing its financial outlook on its conference call, the company said. Shares fell Tuesday $2.09, or 15.6%, to $11.22 Tuesday. On the winning side, shares of HireRight ( HIRE), which provides criminal background checks on prospective employees and analyzes job applicants' breath, urine, hair and saliva, soared to a new 52-week high. HireRight agreed to a $195 million acquisition by U.S. Investigations Services. Shares surged 45% to $15.16. Jinhua, China's Kandi Technologies ( KNDI) jumped 16% to $4.99. Dutton Associates tagged the maker of go-karts and other vehicles with a strong speculative buy rating and a price target of $6.72.
China Sky One Medical ( CSY), which develops over-the-counter nutritional and medicinal products, forecast second-quarter earnings of $6.4 million, or 43 cents a share. One analyst polled by Thomson Reuters expects 43 cents a share. The stock shot up 16.5% to $15.85. Finally, Interoil ( IOC), an oil and gas company, climbed 10% to $31.20. The Cairns, Australia company announced positive gas flow results at its Elk-4/Antelope structure. The new data from the site continues to surpass pre-drill expectations, the company said.