Sierra Wireless, Inc. (TSE:SW) see its Q1 Cloud and Connectivity Services revenue increase 92%
Sean Mason | May 6, 2016 | SmallCapPower
A tech stock received a crucial revenue surge Friday, while Alberta wildfires continued to weigh on the oil patch. Here’s some small stocks making big moves on Friday, May 6, 2016 (as of 4 pm EST):
22% surge in a tech stock
Sierra Wireless, Inc. (TSE:SW) shares powered 22% higher to $22.99 on Friday after the wireless solutions provider for the Internet of Things announced that its revenue from Cloud and Connectivity Services increased 92% in the first quarter to $6.9 million.
For more insight into Sierra Wireless please see our analyst update >>
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As well, shares of Athabasca Oil Corporation (TSE:ATH) slipped 7% to $1.09 as the Canadian energy company said it has decided, in response to the elevated risk from the ongoing regional wildfires, to shut down the Hangingstone Project and evacuate all personnel.
Cardiome Pharma Corp. (TSE:COM), meanwhile, reported that its affiliate has signed an exclusive license agreement with an affiliate of Allergan plc that will result in the Cardiome Group commercializing XYDALBA (Dalbavancin) in France, the U.K., Germany, Belgium, Nordic nations, certain other European nations (not already partnered), various Middle Eastern nations and Canada. Cardiome Pharma stock popped 13% to $6.42 following the announcement.
Finally, AutoCanada Inc. (TSE:ACQ) shares jumped 12% to $21.59 after the multi-location automobile dealership group announced that its Q1 revenue rose 5.3% to $33.5 million, while its earnings per share for the period climbed to $0.27 from $0.20 during the same period last year.
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