Small-cap stocks were experiencing losses alongside the broader market as bears punished the markets Tuesday. The Russell 2000 was falling .35% at 662.15 and the S&P SmallCap 600 was losing .41% to 347.79.

Edge Petroleum ( EPEX) was seeing massive gains of 20.9% to $5.67 in early Tuesday trading action. The Houston, Texas-based oil and natural gas explorer was named in a buy-out which involves privately owned Chaparral, an independent oil and natural gas company. Chaparral said it will be an all-stock deal which will take their firm public.

Obtaining upgrades today, CSG Systems International ( CSGS) shifted 11.1% higher to $14.18. Based out of Englewood, Colo., CSG specializes in providing outsourced solutions to cable and satellite communication markets. CSG Systems was upgraded to buy from hold by Citigroup and Brean Murray. Late Monday, CSG announced winning a four year contract extension with Comcast ( CMCSA).

AirTran Holdings ( AAI) was experiencing sizable gains in early trading Tuesday rising 8.7% to $1.50. The Orlando, Fla.-based airliner announced their earnings call, scheduled for Tuesday, July 29 at 10:00 a.m. EST. AirTran also announced a real-time webcast of second quarter earnings on Tuesday, July 29 at 10:00 a.m. EST. It can be located at Investor.airtran.com.

In a house of pain Tuesday Ramtron International ( RMTR) was seeing a downward trend of 18.8% to $3.10. The Colorado Springs, Colo.-based producer of semiconductor solutions announced a potential charge related to a manufacturing defect after the close Monday. RMTR said that one of their customers requested payment for losses stemming from in-field failures of one of Ramtron's products. RMTR is reporting second quarter earnings after the market close, July 24.

On lower than average volume, Infinity Pharmaceutical ( INFI) traded down, dropping 6.3% to $7.07. The Cambridge, Mass.-based developer of cancer and related illnesses ended development of a prostate cancer treatment. According to INFI, the drug has not shown any sign of activity during ongoing studies.

ViroPharma ( VPHM) was getting mauled in early trading action, falling 13.24% to $10.88. Based out of Exton, Pa., VPHM is a specialist in developing products that address serious infectious diseases treated by physicians internationally. TheStreet.com's Adam Feuerstein reported early Tuesday that ViroPharma is buying Lev Pharmaceuticals ( LEVP).
This article was written by a staff member of TheStreet.com.