Top Double Digit Winners and Losers From Wednesday, August 14, 2013
Sure, Apple (NASDAQ: AAPL) and its move above $500 was big news, but among the small- and medium-cap names, there were newsworthy events along with double digit moves that could have made you a lot of money.
Don’t just see these big moves as a one-day event. History shows that often, there is follow-through for at least a day.
Low volume, low priced stocks have been excluded. Only stocks trading above $2 with volume above 100,000 shares were included.
Silver Spring Networks (NYSE: SSNI) Price: $22.25 (-29.79 Percent)
Shares of this $1 billion telecommunications company plunged when the U.K. government awarded Telefonica and Arqiva contracts to roll out nationwide smart meters. The contracts were worth $2.3 billion to Silver Spring and partner Vodafone (NASDAQ: VOD).
Mecox Lane Limited (NASDAQ: MCOX) Price: $4.63 (-23.97 Percent)
Chinese retailer Mecox Lane Limited plunged on disappointing earnings. The company reported a decrease in year over year net revenue of 44 percent, a 39 percent decrease in gross profit, and a net loss of $6.2 million compared to $4.9 million in the second quarter of 2012.
Cree (NASDAQ: CREE) Price: $58.83 (-22.35 Percent)
LED specialty company, Cree, reported mostly in-line fiscal Q4 earnings but disappointed on guidance. The company sees revenue between $380 million and $400 million versus consensus of $399 million and expects EPS of $0.36 to $0.41 per share. Analysts were expecting $0.43.
Northland Securities and Susquehanna downgraded the stock and lower their price target to reflect the soft guidance.
Anacor Pharmaceuticals (NASDAQ: ANAC) Price: $9.74 (+15.95 Percent)
Shares of the $394 million company were up Wednesday after it was revealed that CFO Geoffrey M. Parker purchased 50,000 shares of the stock at a cost of $8.34. The transaction cost Parker $417,205.
Brocade Communications Systems (NASDAQ: BRCD)
Price: $7.99 (+15.8 Percent)
Brocade reported EPS of $0.19 versus consensus of $0.12—a 32 percent year over year increase. Revenue was $536.5 million versus the street’s estimate of $554 million.
Ampio Pharmaceuticals (NYSE: AMPE)
Price: $6.18 (+15.3 Percent)
Investors bid up the stock after it announced positive data related to its osteoarthritis drug, Ampion. The phase II study set a goal of reducing pain in affected patients along with improvements in quality life, stiffness and general function. The study met all goals and reported a significant decrease in pain among the 329 enrolled patients.
Small-cap stocks may come with additional risks. Exhaustive research and risk management are key in when investing in these, “off the beaten path” names.
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Disclosure: At the time of this writing, the author had no position in the equities mentioned.
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