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Small-Cap Movers: ChannelAdivsor, Rigel lead gainers; Pier 1, Ichor among decliners

The Russell 2000 Index of small-cap stocks was little changed

Stock exchange board
Pier 1 disappointed investors as sales missed estimates

The Russell 2000 Index of small-capitalization stocks was little changed at 1,575.13 at 2:58 p.m.

Here are some of the biggest movers on the index today:

GAINERS

ChannelAdvisor Corp. (NYSE:ECOM) said preliminary first quarter revenue is expected to be about US$31.2mln, or US$1.4 million above the high end of the previous forecast range of US$29.4 million to US$29.8 million. The share gained 21% to US$11.25 at 2:58 p.m.

Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) said it intends to offer and sell as many as 15 million shares of its common stock in an underwritten public offering. The shares climbed 8.6% to US$4.22.

Adams Pharmaceuticals Inc. (NASDAQ:ADMS) said the company’s two-year Phase 3 open-label study of its Gocovri treatment of dyskinesia in patients with Parkinson's disease was generally well tolerated and the treatment effect on motor complications was maintained for up to two years. The stock rose 7% to US$27.65.

Umpqua Holdings Corp. (NASDAQ:UMPQ) reported profit of US$77.7mln for the first quarter of 2018, compared with US$46.0 million in the year-earlier period. The shares climbed 6.3% to US$23.02.

DECLINERS

Pier 1 Imports Inc. (NYSE:PIR)  posted fiscal fourth-quarter sales that missed analysts' expectations and said it would cease its dividend payouts. The stock fell 20% to US$2.78.

Sleep Number Corp. (NASDAQ:SNBR) said sales and earnings per diluted share both declined in the first quarter from the year-earlier period. The stock slipped 14% to US$14.35.

Ichor Holdings Ltd. (NASDAQ:ICHR) said yesterday that its wholly-owned subsidiary, Ichor Systems Korea. Ltd., has entered into a stock purchase agreement for the acquisition of IAN Engineering Co., Ltd. The shares declined 9.7% to US$21.86.

 

Quick facts: Pier 1 Imports Inc

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NYSE:PIR
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