NEW YORK ( TheStreet) -- Footwear maker Timberland ( TBL) was leading small-cap action Thursday with the stock rising 24% to $36.45 after its fourth quarter profit jumped 89% to 82 cents per share, significantly outpacing estimates of 51 cents per share. Heavily-shorted LED stock Rubicon Technology ( RBCN) was among the top gainers in the small-cap space Thursday, after the
company surpassed fourth- quarter- profit expectations. Rubicon reported fourth-quarter earnings of $15.4 million, or 64 cents a share, well ahead of the average estimate of analysts polled by Thomson Reuters for a profit of 50 cents a share in the December period. Short interest positions amounted to 10 million shares of the 22.9 million outstanding shares of the company. The stock was soaring 17.7% to $24.84 on volumes of over 4.3 million in forenoon trading.
Shares of Hyperdynamics ( HDY) rose 14% to $5.75 after an analyst at Howard Weill upgraded it to market outperform with a price target of $9 on the stock. ChinaMediaExpress ( CCME) saw its stock jump 13% to $14.26. Analysts at Global Hunter Securities reiterated a buy on the stock after a visit to China and extensive due diligence on the company suggested that its operations were legitimate.
The company has been in the spotlight after short-sellers accused it of being involved in a pump and dump scheme. Management of
China Media Express has hotly denied the allegations. Shares of Ion Geophysical ( IO) were surging 16.4% to $11.49 after it won a permanent injunction against seismic equipment maker Sercel. Ion Geophysical is a leading provider of geophysical technology, services, and solutions for the global oil & gas industry. Another notable gainer was Flagstar Bancorp ( FBC), up 7.5% to $1.86. There is no recent news on the stock. The company was among the top buys of David Tepper's Appaloosa in the fourth quarter. Shares of Skechers ( SKX) were rebounding from Wednesday's losses, rising 4% to $22.98. The stock fell 6% on Wednesday after it reported a drop in fourth-quarter earnings on the back of higher margin pressures. --Written by Shanthi Bharatwaj in New York >To contact the writer of this article, click here: Shanthi Bharatwaj. >To follow the writer on Twitter, go to http://twitter.com/shavenk. >To submit a news tip, send an email to: email@example.com.