Small
cap stocks making big moves on Monday, June 2, 2014 (as of 4 pm EST)
Giga-tronics Incorporated (NASDAQ: GIGA)
shares shot up 140% to $2.90 on volume of more than 8.8 million shares Monday
after the producer of instruments, subsystems and microwave components said it
has received orders valued at approximately $6.9 million in connection with a
multi-year agreement with a major aerospace company to develop a variant of its
YIG filters for a third aircraft platform. The company added that it is also
anticipating an additional multi-year order later this year for approximately
$10.0 million associated with the production units.
As well,
shares of Puma Biotechnology (NYSE: PBYI)
sank 25% to $57.06 on more than two million shares traded following the development
stage biopharmaceutical company’s announcement that the Phase 2 monotherapy
cohort of neratinib in HER2+ brain metastases failed to meet its primary
endpoint.
EveryWare Global, Inc. (NASDAQ: EVRY),
meanwhile, reported that it intends to partially reopen its Monaca,
Pennsylvania facility after reaching an agreement with lenders to waive
breached debt covenants, maintaining solvency for the rest of the month. EveryWare stock
moved up 58% to $1.74.
Finally,
Neonode Inc. (NASDAQ: NEON)
shares slipped 11% to $3.14 as the developer of MultiSensing touch technologies announced
that it has filed a shelf registration statement on Form S-3 with the
Securities and Exchange Commission, which will allow the company to issue up to
5 million shares of common stock over the course of 3 years.
