Small
cap stocks making big moves on Wednesday, April 23, 2014 (as of 4 pm EST)
Xoom Corporation (NASDAQ: XOOM)
shares jumped 17% to $23.02 on volume of more than 3.2 million shares Wednesday
as the digital money transfer provider reported first-quarter financial results
that beat the consensus estimate and provided a full-year earnings and revenue
outlook that also surpassed Wall Street expectations.
As well,
shares of Zhone Technologies, Inc. (NASDAQ: ZHNE)
sank 21% to $3.29 on more than 2.4 million shares traded after the provider of
FTTx network access solutions announced first-quarter 2014 revenue and net
income that was little changed from the same period a year ago.
Sanmina Corporation (NASDAQ: SANM),
meanwhile, provided third-quarter earnings per share guidance that surpassed
the analyst consensus estimate. Sanmina stock popped 15% to $20.90.
Finally,
shares of GW Pharmaceuticals (NASDAQ: GWPH)
continued to move higher Wednesday, up to 14% to $69.32. On Tuesday its share
price climbed 32% after Morgan Stanley initiated coverage of the cannabis
prescription drug company’s stock with an “overweight”
rating and a $103 per share price target. Its analyst views the company’s
cannabis based epilepsy treatment drug, Epidiolex, as having “strong
potential, with the epilepsy program driving valuation.”
