Here’s an interesting factoid: of the 455 S&P 500 companies who have posted first-quarter earnings, 75.2 per cent have bested expectations.

Morningstar says analysts now see first-quarter earnings growth of 1.2 per cent, “a significant turnaround from the 2 per cent loss seen on 1 April”.

Both US and EU share markets posted solid gains on Thursday. Even ride-hailing trailblazer Uber enjoyed its second straight day of gains following an underwhelming debut.

It’s been a solid week for the ASX Small Ords index, which is up another 1.3 per cent to 2851.8 points in morning trade.

Here are the key ASX small cap winners at lunchtime on Friday May 17:

GOING UP

Battery-maker Redflow (ASX:RFX) will provide 10 of its ZBM2 zinc-bromine flow batteries for a six month demonstration of a 100 kilowatt hour (KWh) battery at a smart grid project in the Qinghai province, China.

It was the news Redflow’s share price desperately needed; the stock jumped 69 per cent per cent on Friday morning to a high of 6.6c.

Neuren Pharmaceuticals (ASX:NEU) bounced by 50 per cent to highs of $1.55 this morning after reporting that its secondary drug candidate NNZ-2591 works in the lab.

In mice, NNZ-2591 improved symptoms associated with Angelman syndrome and Pitt-Hopkins syndrome, including anxiety, motor and cognitive performance, learning and memory.

Here are the best performing ASX small cap stocks at lunchtime, Friday May 17:

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Ticker Name Price % Chg Market Cap Volume
RFX REDFLOW 0.066 69% $53,400,000 27.5M
XPE XPED 0.003 50% $4,500,000 310.5K
KGM KALNORTH GOLD MINES 0.004 33% $3,600,000 126.0K
CT1 CCP TECHNOLOGIES 0.013 33% $5,400,000 150.0K
CAD CAENEUS MINERALS 0.002 33% $3,700,000 1.5M
TGN TUNGSTEN MINING 0.3 28% $218,700,000 908.4K
SRN SUREFIRE RESOURCES 0.005 25% $2,500,000 1.4M
INP INCENTIA PAY 0.067 22% $16,300,000 1.6M
DAU DAMPIER GOLD 0.029 21% $5,100,000 20.0K
CLA CELCIUS RESOURCES 0.029 21% $22,000,000 39.9M
NEU NEUREN 1.24 20% $125,400,000 1.1M
DTR DATELINE RESOURCES 0.003 20% $23,900,000 200.0K
GWR GWR GROUP 0.1 18% $25,400,000 518.0K
QTG Q TECHNOLOGY 0.007 17% $1,100,000 25
SER STRATEGIC MINERAL RESOURCES 0.007 17% $6,300,000 135.0K
MZN MARINDI METALS 0.0035 17% $7,500,000 275.0K
UTR ULTRACHARGE 0.0035 17% $3,800,000 640.7K
DVL DORSAVI 0.1 16% $20,400,000 32.0K
WZR WISR 0.145 16% $112,800,000 11.5M
OAU ORA GOLD 0.008 14% $5,200,000 402.9K

GOING DOWN

It’s been a rough morning for shareholders of IT services company Citadel Group (ASX: CGL), as the stock tumbled following an earnings update.

Citadel revised its projected underlying earnings for the 2019 financial year down to a range of $22-$24m.

In explaining the downgrade, the company pointed to delays in existing project extensions and changes to its revenue mix as it pivots to a software-as-a-service (SaaS) strategy.

Here are the worst performing ASX small cap stocks at lunchtime, Friday May 17:

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Ticker Name Price % Chg Market Cap Volume
CGL CITADEL GROUP 4.37 -36% $216,700,000 1.69M
KKL KOLLAKORN CORP 0.007 -30% $1,700,000 5.6K
JJF JIAJIAFU MODERN AGRICULTURE 0.04 -26% $3,400,000 200.0K
NTU NORTHERN MINERALS 0.058 -24% $112,600,000 8.7M
VIC VICTORY MINES 0.002 -20% $2,500,000 570.4K
THD THRED 0.002 -20% $3,600,000 126.6K
SKN SKIN ELEMENTS 0.004 -18% $6,100,000 92.3k
GMV G MEDICAL INNOVATIONS 0.19 -17% $71,100,000 2.8M
E2E EON NRG 0.005 -17% $3,800,000 600.0K
SI6 SIX SIGMA METALS 0.005 -17% $2,300,000 163.3K
RGL RIVERSGOLD 0.024 -14% $2,200,000 508.7K
IAM INTIGER GROUP 0.006 -14% $10,100,000 1.4M
FRN FRASER RANGE METALS 0.013 -13% $3,300,000 70
ARM AURORA MINERALS 0.013 -13% $1,500,000 64.8K
AHL AHALIFE HOLDINGS 0.007 -13% $4,700,000 3.9K
GMC GULF MANGANESE 0.007 -13% $27,400,000 18.0M
WGO WARREGO ENERGY 0.14 -13% $71,000,000 272.3K
BID BID ENERGY 0.76 -12% $88,700,000 108.1K
PTL PENTAL 0.305 -12% $41,600,000 3.1K