After Hours Stock Movers 1/15: (ZOOM) (SRPT) (TXTR) Higher; (GLOG) (AMRN) (CSX) Lower (more...)

January 15, 2014 6:14 PM EST Send to a Friend
Zoom Technologies, Inc. (Nasdaq: ZOOM) 51.1% HIGHER; entered into a non-binding Letter of Intent (the "LOI") with Tinho Union Holding Group ("Tinho"), pursuant to which the Company will acquire all the issued and outstanding shares of Tinho and Tinho will become a wholly owned subsidiary of the Company in exchange for the issuance of 9,363,585 shares of the Company's common stock (the "Consideration Shares") at a valuation of $8.6505 per share; 4,681,793 shares that are to be issued will be held in escrow (the "Escrow Shares"), and those shares will be released upon Tinho's achievement of certain earnings targets. This transaction is hereinafter referred to as the "Acquisition."

Sarepta Therapeutics, Inc. (NASDAQ: SRPT) 14% HIGHER; announced data through Week 120 from Study 202, a Phase IIb open-label extension study of eteplirsen in patients with Duchenne muscular dystrophy (DMD). Results through more than two years showed a continued stabilization of walking ability in eteplirsen-treated patients evaluable on the 6-minute walk test (6MWT). As previously reported, Study 202 met its primary endpoint of increased novel dystrophin as assessed by muscle biopsy at Week 48 and is now in the long-term extension phase in which patients continue to be followed for safety and clinical outcomes.

Textura Corp (NYSE: TXTR) 7.5% HIGHER; In a 13G filing on Steven A. Cohen's hedge fund SAC Capital disclosed a 5.01%, or 1,245,014 share, stake in the company.

GasLog Ltd. (NYSE: GLOG) 7% LOWER; plans to offer 8,400,000 of its common shares to the public (the “Public Offering”). The Company intends to grant the underwriters of the Public Offering a 30-day option to purchase up to 1,260,000 additional common shares. Concurrently with the Public Offering, the Company is also selling through a private placement approximately $30 million of common shares to certain of its directors and officers and one of its major shareholders at the public offering price.

Amarin Corp Plc (NASDAQ: AMRN) 5.4% LOWER; announced today that the Division of Metabolism and Endocrinology Products (DMEP) within the U.S. Food and Drug Administration (FDA) notified the company today that a determination on Amarin's request for reconsideration of DMEP's October 2013 decision to rescind the ANCHOR clinical trial Special Protocol Assessment (SPA) agreement will be delayed. FDA previously notified the company that it planned to convey its decision to Amarin no later than January 15, 2014. In today's communication, DMEP provided no definitive date for its planned response. Based on dialogue with DMEP, Amarin does not expect the delay to be for a significant period of time.

CSX Corp. (NYSE: CSX) 3.2% LOWER; reported Q4 EPS of $0.42, in-line with the analyst estimate of $0.42. Revenue for the quarter came in at $3 billion versus the consensus estimate of $2.98 billion. Looking forward, the company remains on target to sustain a high-60s operating ratio by 2015 and achieve a mid-60s operating ratio longer-term.

J.C. Penney (NYSE: JCP) 1% LOWER; announced that as part of its turnaround efforts, the Company will be closing 33 underperforming stores across the country in order to focus its resources on the Company`s highest potential growth opportunities. These actions are expected to result in an annual cost savings of approximately $65 million, beginning in 2014. In connection with this initiative, the Company expects to incur estimated pre-tax charges of approximately $26 million in the fourth quarter of fiscal 2013 and approximately $17 million in future periods. Remaining inventory in the affected stores will be sold over the next several months, with final closings expected to be complete by early May. The closings will result in the elimination of approximately 2,000 positions.

Illumina, Inc. (Nasdaq: ILMN) 1% HIGHER; announced it has entered into an agreement with Amgen Inc. (Nasdaq: AMGN) to develop and commercialize a multigene, NGS-based test as a companion diagnostic for Vectibix (panitumumab), a fully human anti-EGFR monoclonal antibody therapeutic for the treatment of metastatic colorectal cancer approved in the US and EU. Under the terms of the collaboration, premarket approval of the test by the US Food and Drug Administration (FDA) and other regulatory bodies will be sought. The test will be developed for use with Illumina's MiSeqDx instrument, which received premarket clearance from the FDA on November 19, 2013 and was CE-marked for the European Union on July 16, 2013.

Aeropostale, Inc. (NYSE: ARO) 1% HIGHER; hedge fund Hirzel Capital Management LLC disclosed a 6.02%, or 4,728,665 share, stake in the company. This is up 367.43% from the 1,011,633 shares held at the end of the latest quarter ending December 31, 2013.


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