Small cap
stocks making big moves on Wednesday, October 29, 2014 (as of 4 pm EST), as
reported by Hassan Malik, SmallCapPower.com
ACCO Brands Corporation (NYSE: ACCO)
shares surged 15% to $8.44 on Wednesday as the company reported a profit of
$34.2 million in its third quarter. On a per share basis, the company reported
earnings, adjusted for non-recurring costs, of 30 cents per share. This figure
beat the prediction by Zacks Research Investment, which expected 25 cents per
share. The office supplies maker also recorded revenue of $472.2 million for
the quarter, exceeding the $451.3 million forecast.
As well, Shell Midstream Partners, L.P. (NYSE: SHLX)
shares shot up 46% to $33.55 after the company’s initial
public offering of 40 million units raised $920 million. The IPO was priced at $23
per unit, surpassing the initial projected range of $19-$21 per unit. The
partnership was created by Dutch Petroleum giant Royal Dutch Shell to manage
and own pipelines for midstream assets, which specialize in dealing with oil
and gas transportation and storage.
Barrett Business Services
Inc. (NASDAQ: BBSI) stock, meanwhile, plunged 59% to $18.28
following its reported Q3 losses. The human resources management company
reported a loss of $37.7 million in its third quarter. On a per-share basis,
the Vancouver, Washington-based company said it had a loss of $5.27. Earnings,
adjusted for non-recurring costs, came in at $1.35 per share.
