Small cap
stocks making big moves on Thursday, November 6, 2014 (as of 4 pm EST), as
reported by Hassan Malik, SmallCapPower.com
Planar System Inc. (NASDAQ: PLNR)
shares shot up 73% to $6.39 after the electric display manufacturer beat
initial analysts’ estimates for its Q4 earnings and revenue. The company
reported a 17% increase in total revenue over the same quarter last year to
$53.6 million, ahead of analysts’ $48.5 million expectations for the period.
Non-GAAP net income for the period more than tripled to $3.1 million, or 14
cents per diluted share, from $1 million, or 5 cents per diluted share, last
year. Analysts were expecting the company to report earnings of 9 cents per
diluted share during the quarter.
As well,
shares of Nevro Corp. (NYSE: NVRO)
surged 40% to $25.19 on Thursday after the company had its IPO. The medical
device manufacturer raised $126 million in its IPO that priced higher than
expected. Shares of the company sold as high as $25.75 in early trading. The
company sold 7 million shares at $18 on Thursday, more than the 6.25 million
shares it had projected and at a price that topped its announced range of
between $15 and $17 a share.
Solazyme, Inc. (NASDAQ: SZYM)
stock, meanwhile, sank 58% to $3.14 after the company Pacific Crest downgraded
the firm’s shares to “sector perform” from “sector
outperform.” Analysts said that Solazyme has failed to achieve its cost
goals as it struggles to ramp its new Brazil plant and it will now operate at
sub-scale in an effort to preserve cash. The company announced that it will run
both its Clinton/Galva operation and its new Moema, Brazil, operation below
nameplate capacity as the company focuses on just a few high-margin product
opportunities in an effort to preserve cash while it works through production
issues at the Moema site.
