Sure, Apple AAPL and its move above $500 was big news, but among the small- and medium-cap names, there were newsworthy events along with double digit moves that could have made you a lot of money.
Don’t just see these big moves as a one-day event. History shows that often, there is follow-through for at least a day.
Low volume, low priced stocks have been excluded. Only stocks trading above $2 with volume above 100,000 shares were included.
Top Losers
Silver Spring Networks SSNI Price: $22.25 (-29.79 Percent)
Shares of this $1 billion telecommunications company plunged when the U.K. government awarded Telefonica and Arqiva contracts to roll out nationwide smart meters. The contracts were worth $2.3 billion to Silver Spring and partner Vodafone VOD.
Mecox Lane Limited MCOX Price: $4.63 (-23.97 Percent)
Chinese retailer Mecox Lane Limited plunged on disappointing earnings. The company reported a decrease in year over year net revenue of 44 percent, a 39 percent decrease in gross profit, and a net loss of $6.2 million compared to $4.9 million in the second quarter of 2012.
Cree CREE Price: $58.83 (-22.35 Percent)
LED specialty company, Cree, reported mostly in-line fiscal Q4 earnings but disappointed on guidance. The company sees revenue between $380 million and $400 million versus consensus of $399 million and expects EPS of $0.36 to $0.41 per share. Analysts were expecting $0.43.
Northland Securities and Susquehanna downgraded the stock and lower their price target to reflect the soft guidance.
Top Winners
Anacor Pharmaceuticals ANAC Price: $9.74 (+15.95 Percent)
Shares of the $394 million company were up Wednesday after it was revealed that CFO Geoffrey M. Parker purchased 50,000 shares of the stock at a cost of $8.34. The transaction cost Parker $417,205.
Brocade Communications Systems BRCD
Price: $7.99 (+15.8 Percent)
Brocade reported EPS of $0.19 versus consensus of $0.12—a 32 percent year over year increase. Revenue was $536.5 million versus the street’s estimate of $554 million.
Ampio Pharmaceuticals AMPE
Price: $6.18 (+15.3 Percent)
Investors bid up the stock after it announced positive data related to its osteoarthritis drug, Ampion. The phase II study set a goal of reducing pain in affected patients along with improvements in quality life, stiffness and general function. The study met all goals and reported a significant decrease in pain among the 329 enrolled patients.
Small-cap stocks may come with additional risks. Exhaustive research and risk management are key in when investing in these, “off the beaten path” names.
Breaking Finance News reports news as it happens. We monitor news wires, financial media outlets, company and government websites, and social media to bring our readers the news they need to make trades right now. Come and check out what’s moving the markets or learn more about us here.
Disclosure: At the time of this writing, the author had no position in the equities mentioned.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
