Small
cap stocks making big moves on Thursday, October 23, 2014 (as of 4 pm EST),
as reported by Hassan Malik, SmallCapPower.com
Infinera Corporation (NASDAQ: INFN) shares
shot up 31% to $13.89 on Thursday after the company beat initial analyst
estimates for earnings and revenue for the respective third quarter. The
communication company is now reporting earnings of 11 cents a share, above the
7 cents which was previously expected. Revenue also grew 22.2% this year
reaching $173.6 million for the quarter (above previous analyst estimates of
$171.1 million).
Shares
of Brookfield Residential Properties Inc.
(NYSE:
BRP) also surged 23% to $23.39 as Brookfield Residential responded to an
earlier proposal made by Brookfield Asset Management to acquire 30% of
Brookfield Residential Properties not currently owned for $23 a share. As of 8:05
am this morning, Brookfield Residential has said it has established a committee
of independent directors who are reviewing the proposal.
Ultratech, Inc. (NASDAQ: UTEK)
stock, meanwhile, slumped 14% to $17.92 after the California based company reported that it had
lost 23 cents per share during its third quarter. Revenue of the chip
manufacturer also came in short. Analysts were initially estimating $46.7
million but only $33.8 million in revenue was recorded for the period.
Finally,
IPC The Hospitalist Company, Inc. (NASDAQ: IPCM)
shares sank 16% to $39.31 as the company reported that on a per-share basis, it
had net income of 49 cents. Earning adjusted for non-recurring costs came in at
57 cents per share. This number was below analyst estimates of 60 cents per
share. Revenue for the period also came in shy of expectations.
