Imaflex Inc. (CVE:IFX), a packaging stock, popped after announcing record Q1 revenue while also swinging to a profit
Sean Mason | May 25, 2017 | SmallCapPower
Record revenue and profitability was a gift to investors in a packaging stock Thursday. Here’s some small stocks making big moves on Thursday, May 25, 2017 (as of 4 pm EST):
Imaflex Inc. (TSXV: IFX), a packaging stock, jumped 27% to $0.85 on Thursday after announcing a 14% increase in its first-quarter revenue to a record $22.1 million, while swinging to net income of $1.1 million from a $0.2 million loss during the first quarter of 2016.
As well, shares of Medicure Inc. (TSXV: MPH) fell 11% to $6.50 as the specialty pharmaceutical company said it swung to a first-quarter net loss of $5.1 million, compared to net income of $792,000 during the same period last. Revenue for the quarter, though, rose 43% to $8.7 million.
Tembec Inc. (TSX: TMB), meanwhile, reported that it has agreed to be acquired by Rayonier Advanced Materials Inc. for a purchase price of approximately US$807 million, including the assumption of US$487 million of debt net of cash. Tembec shareholders are entitled to receive either C$4.05 in cash or 0.2302 of a Rayonier Advanced Materials common share for each Tembec share held. Tembec stock popped 41% to $4.17 following the announcement.
Hi, did you know SmallCapPower accepts blog submissions? You can contact me here
Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. To read more of this Disclaimer please click on the button below: