Small-cap movers saw double-digit gains and losses in Friday trading.
Limelight Networks Inc (NASDAQ:LLNW), a digital content delivery group, reported better-than-expected earnings in its first-quarter report. Its earnings for the first quarter came to $0.06 per share, or US$6.2mln, on an adjusted basis, on revenue of US$52.1mln. The group was expected to result in EPS of $0.02 on revenue of US$48mln. Shares of the New York-based company surged 22% to US$4.99.
Biopharma company Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) announced that all litigation with Alnylam Pharmaceuticals (NASDAQ:ALNY) has been settled. Dicenrna will pay US$27mln to settle a trade secrets lawsuit. Shares of the Massachusetts-based company jumped 18%.
Farmers Capital Bank Corp (NASDAQ:FFKT) announced a merger with fellow bank holding company WesBanco sending shares up 16% to a 52-week -high of US$49.20.
Navios Maritime Midstream Partners (NYSE:NAP), a shipping company based in Monaco, received a double upgrade from J.P. Morgan, sending shares up 14.7%. Analyst Noah Parquette upgraded the rating to Overweight from Underweight with a US$6 price target, according to a note reported by Seeking Alpha.
Shares of nano-cap Myomo Inc (NYSEAMERICAN:MYO) jumped 12% after its product MyoPro, a myoelectric orthodic brace, was featured in a "60 Minutes" segment on MIT’s Media Lab, as per Seeking Alpha. The episode will air this Sunday.
Paper product manufacturer Clearwater Paper Corp. (NYSE:CLW) saw its shares plummet 34% after missing first-quarter estimates. The Washington-based company reported first quarter EPS of US$0.31, falling short of the estimate of US$0.67 EPS.
Shares of apparel and footwear company Cherokee Inc (NASDAQ:CHKE) tumbled 38%, marking a new low for the company, after reporting fourth-quarter results. Revenues for fiscal 2018 were US$11mln compared to US$23mln last year.