Small-cap stocks as well as the broader market had a small early-morning surge before falling slightly on Wednesday. The Russell 2000 Index was down less than 1% to 712.45 while the S&P 500 was up less than 1% to 1,268.87. Among the winners was Starent Networks ( STAR), the multimedia hardware and software provider out of Tewksbury, Mass. Its shares were up 19% to $13.73 on second-quarter earnings of $13.8 million, or 19 cents per share, vs. $3.4 million, or 3 cents a share, one year ago. Analysts polled by Thompson Financial were looking for EPS of 17 cents. South Portland, Maine-based Wright Express ( WXS), which provides services for commercial vehicle fleets, was up 16% to $27.90 on second-quarter earnings of 57 cents vs. earnings of 40 cents a share in the same quarter last year. Analysts were expecting EPS of 54 cents. Automotive components manufacturer Visteon ( VC), out of Van Buren Township, Mich., rose 15% to $2.96 after its second-quarter net loss narrowed to $42 million, or 32 cents per share, vs. a loss of $67 million, or 52 cents per share, one year ago. According to Thompson Financial, analysts were looking for a loss of 37 cents per share. Among the losers was Chantilly, Va.-based Online Resources ( ORCC), which provides web-based financial technology services. Its shares fell 28% to $7.40 on a downgrade from Friedman Billings to market perform from outperform. Also down was LECG ( XPRT), the Emeryville, Calif. company which provides testimony and advice to companies and law firms. Stock was down 25% to $7.52 after second-quarter revenues fell 3.8% to $89.1 million vs. $92.6 million in the same quarter last year.
Ultimate Software Group ( ULTI), the Weston, Fla. company that provides human resources and payroll software solutions, was down 20% to $26.29 on second-quarter losses of $800,000, or 3 cents per share, vs. earnings of $6.4 million, or 23 cents per share, one year ago. Analysts were expecting EPS of 13 cents.