Small cap
stocks making big moves on Friday, January 23, 2014 (as of 4 pm EST), as
reported by Hassan Malik, SmallCapPower.com
BOX Inc. (NYSE: BOX)
shares skyrocketed 66% to $23.23 on Friday after the DropBox based company opened
at $20.20. That’s a 70% bump from its initial public offering price of $14.
As well,
shares of Array BioPharma, Inc. (NASDAQ: ARRY)
shot up 41% to $7.11 after the pharmaceutical company announced that it has
reached a definitive agreement with Novartis Pharma AG to acquire worldwide
rights to encorafenib (LGX818), a BRAF inhibitor currently in Phase 3
development. This agreement is conditional on the closing of transactions
announced by Novartis and GlaxoSmithKline PLC (GSK) on April 22, 2014, which
are expected to close in the first half of 2015.
LeapFrog Enterprises Inc. (NYSE: LF)
stock, meanwhile, sank 35% to $2.55 after the company posted preliminary
third-quarter results far below expectations. The digital toy maker withdrew
its full-year guidance and said it is reviewing strategies, operations and cost
structure to improve its financial performance.
