Small cap
stocks making big moves on Wednesday, December 03, 2014 (as of 4 pm EST), as
reported by Hassan Malik, SmallCapPower.com
Carbonite, Inc. (NASDAQ: CARB)
shares shot up 23% to $14.44 after the company received an unsolicited takeover
bid from J2 Global Inc., a provider of cloud and digital-media services, that
values Carbonite at $15 a share. Carbonite said its Board of Directors would
“review and consider the offer to determine the course of action that it
believes is in the best interests of the company.”
As well,
shares of Sequenom Inc. (NASDAQ: SQNM)
surged 24% to $3.77 after the genetics analysis company settled its patent
dispute with rival Illumina over noninvasive prenatal testing (NIPT) products. The
two companies will pool their owned and in-licensed intellectual property as
part of the settlement while Illumina will pay Sequenom $50 million up front
with undisclosed payments to continue through to 2020.
Bob Evans Farms, Inc. (NASDAQ: BOBE)
stock, meanwhile, sank 14% to $47.91 after analysts at KeyBank Capital Markets
downgraded shares of the full-service restaurant company from a “hold” rating
to an ‘underweight” rating as well set a 12-month price target of $45, which is
11% below current prices.
