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Small-Cap Snapshot: Black Box wins US$10mln contract after issuing a bankruptcy warning

The tech company warned investors earlier this week that it was cash-strapped and may soon file for bankruptcy
Contract
Shares of the company jumped double-digits in morning trading

Things are looking up for Black Box Corporation (NASDAQ:BBOX). The tech company has received a US$10mln contract to deploy data center solutions to an unnamed social media company. The cash-strapped company told investors earlier this week that it may file for bankruptcy. Shares of the Pennsylvania-based company jumped more than 85% to US$1.75.

LSC Communications Inc (NYSE:LKSD) shares fell double-digits after a downgrade from JPMorgan. Analyst Alexia Quadrani gave the shares a rating of Underweight from a Hold with a price target of US$14. The commercial printing company was a spin-off from communications company RR Donnelley. Shares of the Chicago-based company fell more than 12% to US$14.23.

READ: Biogen shares pop on promising results from Phase II Alzheimer's drug study

Biogen Inc (NASDAQ:BIIB) shares jumped following positive results from its Phase II study of its Alzheimer’s disease drug. In the study, patients with early cases of Alzheimer’s who received the highest dose of the drug known as BAN2401 saw less of an erosion in their cognitive faculties after 18months of treatment compared with the placebo group. The drug reduces the build-up of toxic plaque in the brain. Shares of the Massachusetts-based company were up more than 15% to US$344.19.

PriceSmart Inc (NASDAQ:PSMT) fell after disappointing fiscal third-quarter results, missing Wall Street earnings estimates. The warehouse club chain reported earnings of US$0.61 per share on revenue of US$782.2mln compared with consensus estimates of US$0.63 EPS on revenue of US$777.1mln. The chain operates 40 stores in the Central America, South America and the Caribbean. Shares of the California-based company fell more than 10% to US$83.55.

Aegean Marine Petroleum Network Inc (NYSE:ANW) saw its shares jump after the company reached an agreement with Mercuria Group on US$1bn refinancing and a potential strategic partnership. Shares of the marine fuel logistics company were up nearly 2.5% to US$2.08.

--Updated to include Aegean Marine Petroleum Network, updated share prices--

 

Contact Lenore Fedow at [email protected]

Follow her on Twitter@LenoreMariee

 

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