Today was a near flat day, with most indices eking out a close in the green a day after Citigroup (NYSE:C) reported that it is still operating at a profit. Some of today’s small-cap gainers were YRC Worldwide (Nasdaq:YRCW), Axsys Technologies (Nasdaq:AXYS) and Innodata Isogen (Nasdaq:INOD).

Other Market Watch highlights today included:

• Stocks navigated choppy trading Wednesday, with the Russell 2000 closing down 1.48, or 0.4%, to 366.27. The Dow closed up 0.05% to 6,929.76, and the S&P 500 closed up 0.24% to 721.35.
• For the year, the Russell is down 26.67%, the Dow is down 21.03% and the S&P 500 is down 20.14%.
• Analysts are warning that the rally seen Tuesday and part of today willl be short-lived due to deep problems etched within the banking industry.
• Oil prices fell more than 7% today as U.S. inventories swelled with surplus crude and traders started to doubt whether OPEC would cut production further.
• Lower tax revenue and massive government spending on the bank bailout pushed the federal deficit to $765 billion in the first five months of the budget year.

Small Cap Gainers:

• YRC Worldwide stock jumped 44.5% on expectations of an improved second quarter for the company. See (Nasdaq:YRCW).
• Axsys Technologies, a manufacturer of defense surveillance and imaging systems, closed up 32.48% after the small cap put itself up for sale in an auction that drew a first round of bids earlier this week. See (Nasdaq:AXYS).
• Innodata Isogen reported a second straight year of record revenue; shares rose 21%. See (Nasdaq:INOD). 

Small Cap Losers:

• NCI Building closed down 38% after posting a Q1 net loss on Tuesday. See (NYSE:NCS).
• WSP Holdings issued FY 2009 guidance below analysts' estimates, sending shares 35% lower. See (NYSE:WH). 
• Online travel website Orbitz tumbled 26% as competitor Expedia waived flight booking fees. See (NYSE:OWW).

For access to the full article, you must be a registered member - it's FREE.