Small cap
stocks making big moves on Friday, October 31, 2014 (as of 4 pm EST), as
reported by Hassan Malik, SmallCapPower.com
Gain Capital (NYSE: GCAP) shares climbed
21% to $8.56 on Friday after the company said it has entered into a definitive
agreement to acquire City Index Limited, an online trading firm that specializes
in contracts-for-difference (CFDs), for approximately $118 million. Reported
Earnings per Share wildly beat initial analysts’ estimates. Gain Capital
reported EPS of $0.36, beating estimates made by Zacks Investment of -$0.04.
As well,
share of Spansion Inc. (NYSE: CODE) shot up
25% to $20.58 following a positive Q3 earnings report. The chipmaker reported
earnings of $0.27 a share for Q3. This figure was on par with the 27 cents a
share prediction which analysts at Thomson Reuters expected. Revenue grew about
16% year over year to $315.93 million for the quarter but came in shy of
initial analyst estimates of $325.04 million.
Aegeri Pharmaceuticals, Inc. (NASDAQ: AEGR) stock,
meanwhile, sank 41% to $20.19 after the company reported its Q3 results. The
company hit a new 52-week low on Friday after losing $0.12 a share during its
most recent quarter while recording $43.7 million in revenue, against the
Thomson Reuters consensus estimate of a loss of $0.14 per share and $48.32
million in revenue. During the year-ago quarter, the company lost $0.43 per
share and had $16.33 million in revenue.
