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Small-Cap Snapshot: Arcadia Biosciences partners with Ardent Mills to introduce new wheat varieties

Last updated: 12:10 06 Nov 2018 EST, First published: 11:00 06 Nov 2018 EST

wheat field

Arcadia Biosciences Inc (NASDAQ:RKDA) is on the rise after revealing that it will collaborate with Ardent Mills, a flour-milling company, to develop and commercialize new wheat varieties. The first leg of their collaboration will focus on extending the shelf life and improving the flavor of whole-wheat products. Arcadia scientists create thousands of wheat plants each with unique genetics. The Extended Shelf Life wheat trait was developed using Arcadia’s extensive library of wheat lines that vary by genetic composition and gene function.

Arcadia Biosciences added 3% to hit $4.43.

Allot Communications Ltd (NASDAQ:ALLT) is also popping after announcing better-than-expected third-quarter earnings and upping its full-year revenue guidance as it continues signing deals with major telecom operators. The network security and intelligence solutions company reported a net loss of $0.03 per share on revenue of $24.2 million. Allot surpassed Wall Street’s estimates of a net loss of $0.05 per share on revenue of $23.69 million. For the full year, the company expects revenue between $93 million to $95 million, above its previous guidance of $91 million to $95 million. CEO Erez Antebi highlighted the company’s slew of recent security deals as a driving force behind the revenue boost.

Allot rose by 6% to $7.15.

READ: Allot Communications tops analyst estimates in 3Q, raises full-year revenue guidance

Shares of Malibu Boats Inc (NASDAQ:MBUU) are making waves on the Russell 2000 after the boat maker sailed past Wall Street’s earnings and revenue forecasts for its fiscal first quarter. The Loudon, Tennessee-based company posted adjusted earnings of $0.67 per share on sales of $123.5 million. The results exceeded the Street’s estimates of $0.55 per share on revenue of $114.1 million. Malibu Boats designs and makes a broad range of recreational powerboats, including performance sport, sterndrive and outboard boats.

Malibu Boats added 11.4% to $46.79.

Shares of Sun Hydraulics (NASDAQ:SNHY) were slipping on the Russell 2000, meanwhile, after the manufacturer of screw-in hydraulic cartridge valves and manifolds fell short of Wall Street’s third-quarter estimates. The Florida company posted net income of $11.6 million, or $0.44 per adjusted share, on revenue of $135.8 million in its latest quarter. The results failed to meet the Street’s expectations of $0.47 per share on revenue of $141 million. Sun Hydraulics forecast that full-year revenue will fall between $500 million to $507 million.

Sun Hydraulics shed 12.3% to $43.87.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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