Small-cap stocks began Friday’s trading session higher, but are skidding into the red after figures from the University of Michigan showed American consumer sentiment at a 26-year low. At 1:43 p.m. ET, the Russell 2000 (NYSE:IWM) was down 3.35, or 0.47%, at 713.72.

Among small caps, Progenics Pharmaceuticals, Inc. (Nasdaq:PGNX) is up 30% after the Tarrytown, N.Y.-based company’s constipation drug won FDA approval. YRC Worldwide Inc. (Nasdaq:YRCW) is up about 29% after the transportation services company said early Friday that it expects second-quarter profit in-line with Wall Street expectations. Wilshire Bancorp, Inc. (Nasdaq:WIBC) is up 17% after the Los Angeles-based community bank posted first-quarter net income of $7.1 million, or $0.24 per share, compared with analysts’ expectation of earning $0.20 per share.

Among small-cap losers, shipping and logistics company Horizon Lines, Inc. (NYSE:HRZ) is down about 18% after cutting its 2008 forecast due to weakness in Puerto Rico. Acacia Research-Acacia Technologies (Nasdaq:ACTG) is down 18% after the Newport, Calif.-based company, which develops, acquires, licenses and enforces patented technologies, reported a first-quarter loss of $3.9 million, . . .

---You can read the FULL article when you register (registration is free!) or sign-in to SmallCapInvestor.com---