Small Cap Stocks Plunged (INSU, ARIA, ZRAN, FTLK)

Insituform Technologies, Inc. (NASDAQ:INSU) closed at $22.90, down 12.76% from its yesterday`s close. The company's net income for the third quarter rose to $18.81 million or $0.48 per share from $9.15 million or $0.23 per share in the same period last year.

Revenues for the quarter grew to $239.59 million from $201.85 million in the prior-year period, but missed analysts' consensus revenue estimate of $241.61 million for the quarter.

Over the past 52-week, the stock had traded within the range of $17.75-$28.38. At today`s closing market price, the market capitalization of the company stood at $898.47 million.

Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) plunged 9.51% to $3.71. The company announced the pricing of an underwritten public offering of 16,000,000 shares of its common stock at $3.70 per share. The offering is expected to close on or about October 29, 2010.

The stock opened at $3.72 and has a 52-week range of $1.70-$4.49. In the past one month of trading sessions, the stock went up more than 4%.

Zoran Corporation (NASDAQ:ZRAN) slumped 18.25% to $6.18 after Wedbush downgraded the rating of the stock to underperform and lowered the target price to $6. 

The stock opened at $6.01 and was trading within the range of $5.98- $6.45. In the past one month of trading sessions, the stock went down more than 16%.

Funtalk China Holdings Ltd. (NASDAQ:FTLK) went down 10.06% to $6.97. This week, the company announced that it intends to offer, subject to market and other conditions, approximately 7,000,000 ordinary shares in a public offering. In connection with this offering, the underwriters will have an option to purchase up to an additional 1,050,000 ordinary shares from the Company.