Small
cap stocks making big moves on Friday, May 16, 2014 (as of 4 pm EST)
Kingold Jewelry, Inc. (NASDAQ: KGJI)
shares surged 23% to $1.47 on volume of more than 3.3 million shares Friday
after the Chinese manufacturer and designer of 24-karat gold jewelry reported first-quarter
net sales that surged 38.9% to $307.5 million, while net income for the period increased
to $16.1 million, or $0.24 per share, from $3.0 million, or $0.05 per share, during
the same quarter last year.
As well,
shares of World Wrestling Entertainment
(NYSE: WWE)
plunged 44% to $11.27 as the integrated media organization said it has signed a
new TV deal with NBC that will reportedly pay it much less than it had
expected.
Overland Storage, Inc. (NASDAQ: OVRL),
meanwhile, announced a merger agreement with Sphere 3D Corporation (TSXV: ANY),
in which each outstanding common share of Overland will be exchanged for
0.510594 common shares of Sphere 3D. Overland Storage stock moved up 20% to
$3.60 following the announcement.
Finally,
ZBB Energy Corporation (NYSE MKT: ZBB)
shares shot up 18% to $1.75 after the developer of renewable energy power
platforms and hybrid vehicle control systems reported break-even third quarter earnings,
compared to a loss of $0.18 a share a year earlier. Revenue for the period rose
to $4.57 million from $2.12 million.
