Small
cap stocks making big moves on Tuesday, April 29, 2014 (as of 4 pm EST)
Amicus Therapeutics (NASDAQ: FOLD)
shares surged 21% to $2.22 on volume of more than 5.3 million shares Tuesday
after the biopharmaceutical company said its lead drug to treat fat-storage
disorder was found effective in patients after 12 months of treatment in a late-stage
trial.
As well,
shares of Ultra Clean Holdings, Inc.
(NASDAQ: UCTT)
slid 26% to $8.73 on more than 3 million shares traded as the developer and
supplier of critical systems and subsystems for the semiconductor capital
equipment industry reported first-quarter earnings that missed the Wall Street
forecast by $0.02 and provided second-quarter EPS guidance that was below the
analyst consensus estimate.
Orbital Sciences Corporation (NYSE: ORB),
meanwhile, announced that it has entered into a definitive agreement to merge
with Alliant Techsystems Inc.’s (NYSE: ATK)
Aerospace and Defense Groups to create a $4.5 billion (combined calendar year
2013 annual revenue) defense and aviation systems developer and manufacturer. Orbital
Sciences stock moved up 17% to $30.96.
Finally, Biota Pharmaceuticals, Inc. (NASDAQ: BOTA)
shares sank 34% to $3.68 after the Biomedical Advanced Research and Development
Authority (BARDA) asked the company to stop developing its experimental
influenza drug, pending a decision related to Biota’s contract with the agency.
