Small
cap stocks making big moves on Friday, May 2, 2014 (as of 4 pm EST)
Westport Innovations Inc. (NASDAQ: WPRT)
shares jumped 24% to $16.07 on volume of more than 6.9 million shares Friday
after the manufacturer of natural gas engines and vehicles reported that its
first quarter revenue was up 39% year over year. As well, its loss per share
for the period decreased to $0.38 from $0.57 a year earlier. The company added
that it expects its revenue to grow between 7% and 13% in 2014.
As well,
shares of Endocyte, Inc. (NASDAQ: ECYT)
plunged 62% to $6.62 on more than 17.3 million shares traded as the
biopharmaceutical company and Merck & Co Inc. announced that they have
stopped a late-stage trial of their experimental ovarian cancer drug because it
did not improve survival rates without the cancer worsening.
RXi Pharmaceuticals Corporation (NASDAQ: RXII),
meanwhile, reported positive results from the assessment of connective tissue
growth factor (CTGF) protein levels following intravitreal injection of RXI?109
in the eyes of cynomolgus monkeys. RXi Pharmaceuticals stock moved up 7% to
$3.38.
Finally,
Doral Financial Corporation (NYSE: DRL)
shares plummeted 62% to $3.73 after the company said it is in the process of
developing a revised capital plan intended to enable it to remain in compliance
with the requirements of its regulators.
