Small cap
stocks making big moves on Wednesday, November 05, 2014 (as of 4 pm EST),
as reported by Hassan Malik, SmallCapPower.com
Elecsys Corporation (NASDAQ: ESYS)
shares shot up 81% to $17.29 after the company announced the signing of a
definitive agreement with Lindsay in which Lindsay will acquire Elecsys in a
transaction valued at approximately $70.5 million. Under the terms of the deal,
Elecsys shareholders are anticipated to receive $17.50 for each share of
Elecsys stock they own. Elecsys has suspended its previously-announced stock
repurchase program. The parties are targeting a January 2015 closing, although
Elecsys shareholders will most likely be asked to vote on the transaction well
before that time.
As well,
shares of Astea International Inc. (NASDAQ: ATEA)
surged 33% to $2.16 on Wednesday after the service management company announced
that an IT Services Company in North America has signed a cloud
software-as-a-service (SaaS) contract for the Astea Alliance service management
and mobile workforce platform to replace their existing service management
solution, and provide additional automation capabilities that will further
streamline and advance their service business. Astea will provide the IT
Services Company with a combination of services such as mobile, field service,
depot repair and logistics.
Chuy’s Holdings, Inc. (NASDAQ: CHUY)
stock, meanwhile, sank 32% to $20.68 after the company reported weaker than
expected results from its Q3 earnings. The stock is down about 41% this year. The
company now expects earnings per share to be in the range of 67-69 cents, down
from the previous range of 76-78 cents.
