An
activist investor stirred up the stock price of a known tech company Thursday
while disappointing drill results hurt an energy junior. Here’s some small
stocks making big moves on Thursday, October 8, 2015 (as of 4 pm EST):
Mitel Networks Corporation (TSX:
MNW) shares surged 16% to $10.67 on Thursday after activist investor
Elliott Management Corp. released a letter disclosing stakes in both Polycom
Inc. and Mitel and urged the telecom companies to merge to increase
profitability. Mitel Networks is provider of real-time business, cloud and
mobile communications.
As well,
shares of Condor Petroleum Inc. (TSX:
CPI) sank 44% to $0.10 as the oil and gas company said it has reached a
total depth of 3,992 meters on the KN-501 Primary Basin well located on its
100% owned Zharkamys West 1 Territory in Kazakhstan. The company added that numerous
gas shows were encountered while drilling the main hole section from 3,530
meters to TD, although no commercial hydrocarbon reservoirs were identified.
Sintana Energy Inc. (TSXV:
SEI), meanwhile, reported that the Manati Blanco-1 exploration well,
located on Colombia Block VMM-37, has been successfully drilled and cased
through multiple tight oil formations to a measured depth of approximately
14,500′. Sintana Energy stock moved up as much as 14% before ending down 3% at $0.175 following the announcement.
Finally, Moseda Technologies Inc. (TSXV:
MSD) shares rose 2% to $0.34 after the technology company focused on
developing mobile health and telemedicine solutions for institutional and home
healthcare announced that it has signed a distribution agreement with a top 10,
multi-national pharma and diagnostics company.
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