Updated from 2:32 p.m. EDT with new stock pricesSmall-cap stocks followed the broader market on Wednesday, showing a slight drop by midday before beginning a small rebound. The Russell 2000 Index was down 2.8% to 672.10, while the S&P Small-Cap 600 was down 2.8% to 355.19 on the day. Among the winners, Seattle-based medical device company Northstar Neuroscience ( NSTR) was up 22.7% to $1.84. On Wednesday, Tang Capital Partners announced a proposal to acquire Northstar for $2.25 per share. Tengasco ( TGC - Get Report), an oil and natural gas company out of Knoxville, Tenn., was down 1.3% to $2.90. The company announced early on Wednesday that it had finalized a deal to buy oil-producing properties and equipment from Black Diamond Oil. The deal is worth about $5.35 million. Rising was digital image and design company Schawk ( SGK), based out of Des Plaines, Ill. The stock was up 13.8% to $12.60 on first-quarter earnings of $4.3 million, or 15 cents a share. Analysts polled by Thompson Financial were expecting EPS of 13 cents. On the losing side was Israeli security software company Aladdin Knowledge Systems ( ALDN), down 34.2% to $8.72. This marks a four-year low for the company, which on Wednesday estimated second-quarter EPS of 1 cent, vs. analyst expectations of 27 cents. Vehicle rental agency Avis Budget Group ( CAR - Get Report) was down 22% to $5.69. The company announced on Wednesday that is sees second-quarter and full-year numbers coming in lower than analyst expectations. Rounding out the drops was Circuit City ( CC - Get Report). Shares were down 9% to $2.32 after Blockbuster ( BBI) announced it was dropping its $1 billion bid to buy the consumer electronics chain.
TheStreet’s Fundamentals of Investing Course will teach you the keys to making the right decisions in any market.
TheStreet’s Personal Finance Essentials Course will teach you money management basics and investing strategies to help you avoid major financial pitfalls.
TheStreet Courses offers dedicated classes designed to improve your investing skills, stock market knowledge and money management capabilities.
More from Investing
Memorial Day Sale: Join Jim Cramer's Club for Investors and Save
Get 57% off on your membership to Jim's Action Alerts PLUS club for investors.
Avoid JD Even When Investors Return to Pick Over China Stocks
JD's valuation is too stretched and the stock offers no upside potential, though its first-quarter improvements may seem appealing.