Small cap
stocks making big moves on Friday, November 7, 2014 (as of 4 pm EST), as
reported by Hassan Malik, SmallCapPower.com
ChannelAdvisor Corporation (NYSE: ECOM)
shares shot up 46% to $17.85 after the e-commerce company reported Q3 revenue
of $21 million. This figure beat the initial estimate of $20.8 million provided
by analysts. On a per-share basis, the company said it had a loss of $0.36.
Losses, adjusted for stock option expenses, came to $0.26 cents per share. The
results exceeded Wall Street expectations. The average estimate of analysts
surveyed by Zacks Investment Research was for a loss of $0.28 cents per share.
As well,
shares of Envestnet, Inc. (NYSE: ENV)
surged 15% to $52.16 on Friday after the company topped Q3 forecasts. Envestnet
reported a profit of $0.10 per share. Earnings, adjusted for stock option
expense and amortization costs, were $0.21 per share. The results exceeded Wall
Street expectations. The average estimate of analysts surveyed by Zacks
Investment Research was for earnings of $0.19 per share. The financial services
firm posted revenue of $88.6 million in the period, also beating Street
forecasts. Analysts expected $87.2 million, according to Zacks.
Performant Financial Corporation (NASDAQ: PFMT)
stock, meanwhile, sank 19% to $7.04 after the company reported a third-quarter
loss. The auditing company reported losses of $0.01 per share. Earnings,
adjusted for one-time gains and costs, came in at $0.01 per share. These
results did not meet Wall Street expectations. The average estimate of analysts
surveyed by Zacks Investment Research was for earnings of $0.04 per share. The
company posted revenue of $39.6 million, which also did not meet Street
forecasts. Analysts expected $45.5 million, according to Zacks.
