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.