Small cap stocks making big moves on Monday,
October 20, 2014 (as of 4 pm EST), as reported by Hassan Malik,
SmallCapPower.com
SinoCoking Coal and Coke Chemical
Industries Inc. (NASDAQ: SCOK)
shares surged more than 59% to $3.74 on Monday. The chemical-based company
recently announced the start of operations at one of its facilities, which
specialized in converting carbon dioxide in to clean burning syngas.
As well,
shares of iBio Inc. (NYSE: IBIO)
shares sank 32% to $2.18 as the pharmaceutical company confirmed via a Dallas
judge that 43 people who came into contact with the Ebola epidemic have been
cleared with no signs of symptoms. The company is riding the rough wave of
other Ebola related stocks, which surged earlier in the month due to an
increase in confirmed Ebola cases in the U.S. but are now dipping as Ebola
cases subside in that country.
ITT Educational Services Inc. (NYSE: ESI)
stock, meanwhile, is up this week following a price gain of 131% over the last
two trading days. Today, the stock rose 38% to $12.68. Last week, the
for-profit school announced that it enrolled more students than initially
expected in the second quarter. Today, ITT has announced that it has enough
unrestricted cash to assuage any liquidity concerns. After accounting for $90
million in credit, the non-for-profit is still left with $100 million in
unrestricted cash.
Finally,
ShoreTel (NASDAQ: SHOR)
shares jumped 17% to $7.62 after the provider of simple phone systems and unified
communications solutions said it has received an unsolicited proposal from
Mitel Networks Corporation (NASDAQ: MITL)
to acquire all of the outstanding shares of the company for $8.10 per share in
cash.
