Small cap
stocks making big moves on Tuesday, October 28, 2014 (as of 4 pm EST), as
reported by Hassan Malik, SmallCapPower.com
Ascent Solar Technologies, Inc. (NASDAQ: ASTI)
shares shot up 14% to $2.01 on Tuesday after the solar module company obtained
a joint venture license in China. The joint venture with China aims to build a
manufacturing facility within the city of Suqian. The venture also provide
$32.5 million in cash as well as five years of free usage of a manufacturing
facility, a five-year tax holiday, and significant trade incentives.
As well, shares
of Integrated Device Technology, Inc.
(NASDAQ:
IDTI) surged 18% to $16.62 after the company beat initial analysts’
estimates for earnings in the second fiscal quarter. The semiconductor company
reported earnings of 20 cents a share surpassing the original estimate by
analysts’ of 18 cents. Revenue of the company also grew 10.5% from the year-ago
quarter to $137.09 million, beating analysts’ estimates of $133.78 million.
Ducommun Inc. (NYSE: DCO)
stock, meanwhile, sank 11% to $25.72 following the company’s lower than
expected net income and earnings per share. The construction supplies company
said that it retained a profit of 24 cents per share as well as third-quarter
revenue of $188.2 million. Analysts’ estimates were for earnings per share of
49 cents as well as revenue of $184 million, respectively.
Finally,
shares of iBio, Inc. (NYSE MKT:
IBIO) dropped 19% to $1.16 after Gainey McKenna & Egleston announced
that a class action lawsuit has been filed in the US District Court for the
District of Delaware on behalf of all persons who purchased or otherwise
acquired iBio Inc securities between October 13, 2014 and October 23, 2014. The
lawsuit aims to recover damages for defendants who had been misguided by iBio
during the class period. The company allegedly issued materially false and misleading
statements to investors by wrongfully suggesting that its Launch platform
patents and related proprietary technology would be licensed by the makers of
the experimental Ebola drug, ZMapp.
