It was a tough Tuesday for the small-cap indices with the Russell 2000 and the S&P 600 seeing a slight decline. On the bright side, the Russell 2000 has been reaching all-time highs lately.
America’s Car Mart Inc (NASDAQ:CRMT) was a top gainer of the day after the used car seller revved up its earnings to US$1.43 on revenue of US$169mln, beating Wall Street estimates of US$0.98 EPS on revenue of US$158.73mln. Based in Arkansas since 1981, the company has a “buy here pay here” service which allows customers to purchase, finance and make payments on their car all in one place. Shares of the company were up nearly 15% to US$62.65.
Construction company Dycom Industries Inc (NYSE:DY) saw its shares fall after announcing lower-than-expected first quarter earnings and lowered guidance. The company reported earnings of US$0.53 per share on revenue of US$731.4mln versus Wall Street estimates of US$0.70 EPS on revenue of $734.86mln. The specialty contracting services company provides the labor and tools to telecommunication companies like AT&T Inc (NYSE:T) and Verizon Communications Inc (NYSE:VZ), installing the fiber-optic wiring necessary for phone and cable services. Shares were down nearly 20% to US$92.93.
Melinta Therapeutics Inc (NASDAQ:MLNT) announced a public offering of its common stock, sending the pharmaceutical company’s shares falling double digits. The Connecticut-based company develops antibiotics to treat bacterial infections and then uses the proceeds to invest in other antibiotics. Shares were down more than 10% to US$6.55.
Roadrunner Transportation Systems Inc (NYSE:RRTS) shares jumped more than 9% to US$2.42. The freight transportation company recently joined the Blockchain in Transport Alliance, a group that wants to digitalize the supply chain and develop industry-wide blockchain standards.