Small-Cap Snapshot: GameStop rallies on report Sycamore and Apollo are bidding for retailer

Arcus Biosciences declined after the company announced that Jennifer Jarrett will step down as the chief financial and operating officer

GameStop logo
A deal for GameStop reportedly could come as early as mid-February

GameStop Corp (NYSE:GME) rallied after The Wall Street Journal reported that private equity firms, including Sycamore Partners and Apollo Global Management, are bidding for the video game retailer and that a deal could be announced in mid-February. The company is working to restructure its business as it searches for its fifth CEO in just over a year, according to the Journal.

Shares rose $1.83, or 14%, to $14.80.

READ: GameStop acquisition may be too pricey for private equity firms, says Wedbush analyst

Resources Connection Inc (NASDAQ:RECN) rose on Friday after the Irvine, California-based business consulting firm reported that its second-quarter revenue increased more than 20% to $188.8 million compared with a year earlier. Net income climbed to $10.6 million from $8.1 million. Diluted earnings per share advanced to $0.33 from $0.27.

The stock increased $2.05, or 15%, to $15.65.

Esperion Therapeutics Inc (NASDAQ:ESPR) tumbled after announcing a licensing agreement with Daiichi Sankyo Europe to commercialize the cholesterol inhibitor bempedoic acid. Under the deal, the Ann Arbor, Michigan-based company will receive $300 million in upfront and near-term payments and as much as $900 million total milestone awards.

The shares fell $3.17, or 7.1%, to $41.31 after rallying more than 10% in pre-market trading.

Arcus Biosciences Inc ( (NYSE:RCUS) declined after the Hayward, California-based, cancer-focused biopharmaceutical company announced that Jennifer Jarrett will step down as the chief financial and operating officer effective January 11 and join the company’s board the following day. The company said she is pursuing an opportunity at a privately-held transportation and technology company.

The stock dropped $1.54, or 15%, to $8.88

The Russell 2000 index of small-cap stocks climbed 2.9% to 1,369.64 after the Labor Department reported that US employers added more than jobs in December than analysts had expected.

Contact Dennis Fitzgerald at [email protected]

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