S&P SmallCap 600 in Focus: GCO MW

The S&P SmallCap 600 Index advanced on Thursday, led by Genesco Inc. after the footwear and accessories retailer said its fiscal first-quarter profit soared on one-time gains and beat Wall Street estimates.

The S&P SmallCap 600 Index _ which tracks stocks with a market capitalization between $300 million and $2 billion _ gained 3.02 points to 393.03.

Small-cap companies make up about 3 percent of the total U.S. securities market, but are often cited as good investments due to their low valuations and potential to grow into big-cap stocks.

Shares of Genesco soared $2.34, or 8.8 percent, to $28.84. On Thursday, the company said its first-quarter earnings rose to $129.8 million from $2.2 million a year ago, but most of the gains came from a legal settlement with The Finish Line Inc. and UBS Securities over a buyout.

The Dress Barn climbed $1.18, or 8.4 percent, to $15.19 after the women's apparel retailer reported a fiscal third-quarter profit of 39 cents per share, widely beating analyst estimates. The company also backed its full-year guidance.

Timing and synchronization products maker Symmetricom Inc. gained 31 cents, or 7.6 percent, to $4.40.

Among the decliners, shares of Men's Wearhouse Inc. fell $2.03, or 8.6 percent, to $21.59. Late Wednesday, the men's clothing retailer slashed its full-year profit forecast and guided second-quarter earnings below Wall Street estimates.

Coal producer Massey Energy Co. declined $2.56, or 3.9 percent, to $62.70.

Florida-based BankAtlantic Bancorp Inc. slid 8 cents, or 4 percent, to $1.92. Earlier in the session, the stock hit a fresh multiyear low of $1.90.