Small cap
stocks making big moves on Monday, November 10, 2014 (as of 4 pm EST), as reported
by Hassan Malik, SmallCapPower.com
Orexigen Therapeutics, Inc. (NASDAQ: OREX)
shares shot up 33% to $5.13 after the European Union reviewed the company’s
weight loss drug “Contrave” and approved it with the U.S. in September.
Orexigen also reported better-than-expected quarterly results. The drug company
reported a profit of $11.3 million, or 9 cents per share, in the third quarter
on revenue of $30.9 million. Zacks Investment Research says analysts expected
net income of 5 cents per share.
As well,
shares of Uranium Resources, Inc. (NASDAQ: URRE)
surged 32% to $2.56 on Monday. Shares of URRE and other uranium related ETFs
are gaining momentum after Japan announced that it plans to restart its first
nuclear reactor since the March 2011 earthquake and tsunami disaster. The
company also announced its exploration plans for the year 2015. The company is
planning an exploration program of approximately $825,000 in 2015 for drilling
and geophysical logging at the Alta Mesa Este and Butler Ranch projects. The
majority of the planned investment will be at the Alta Mesa Este Project for
drilling up to 27,000 feet and geophysical work.
Resolute Energy Corporations (NYSE: REN)
stock, meanwhile, sank 20% to $2.90 after the company reported losses in its
third quarter. On a per-share basis, the independent oil and gas company said
it had a profit of $0.20. Losses, adjusted for one-time gains and costs, came in
at $0.08 share. The results missed Wall Street expectations. The average
estimate of analysts surveyed by Zacks Investment Research was for a loss of $0.04
per share. The independent oil and gas company posted revenue of $84.1 million
in the period, also falling short of the Street forecasts. Analysts expected
$84.3 million, according to Zacks.
