Morning Movers 04/16: (ECYT) (OPHC) (VRNG) Higher; (PCO) (HALO) (LEI) (SPRD) Lower
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Endocyte (Nasdaq: ECYT) 108% HIGHER; announced a $120 million upfront payment from Merck (NYSE: MRK) to develop and commercialize Phase III EC145. Endocyte will be eligible for milestone payments totaling $880 million.
Pendrell Corporation (NASDAQ: PCO) 48.4% LOWER; announced today that the Court of Appeal of the State of California, Second District, has overturned the 2008 California Superior Court jury verdict in the litigation between Pendrell’s subsidiary, ICO Global Communications (Operations) Limited, and The Boeing Company (NYSE: BA)
OptimumBank Holdings (Nasdaq: OPHC) 47.5% HIGHER; continuing higher follow a very volatile run over the last two weeks. After surging more than 150 percent on Wednesday of last week, the stock sold off by 34 percent on Thursday and another 11 people on Friday.
Vringo, Inc. (NYSE: VRNG) 36.5% HIGHER; is indicated to open sharply higher after billionaire Mark Cuban disclosed a new 7.44%, or 1,030,720 share, stake in the company late Friday. Cuban disclosed his stake in a 13G filing, indicated a "passive investment" above 5%.
Dreams, Inc. (AMEX: DRJ) 30.3% HIGHER; has signed a definitive merger agreement with Fanatics, Inc., a leading online seller of licensed sports products. The agreement calls for Fanatics to acquire all the outstanding shares of the company for $3.45 per share in cash for an aggregate transaction value of approximately $183 million, taking into account $25 million of outstanding debt.
Halozyme (Nasdaq: HALO) 25.8% LOWER; Baxter (NYSE: BAX) and Halozyme provide update on HyQ Biologics license application: says the FDA has requested added info for review. The companies are now anticipating a deley related to the regulatory review.
Stratasys (Nasdaq: SSYS) 20.5% HIGHER; For the first quarter Stratasys expects to report revenue of approximately $45.0 million, a 31 percent increase compared with $34.3 million reported during the same period last year. Stratasys also expects to report non-GAAP net income of approximately $5.6 million to $6.3 million for the first quarter, or $0.27 to $0.29 per share, compared with $4.4 million, or $0.21 per share reported during the same period of last year. The Street sees revs of $41.64 million and EPS of 26 cents.
Lucas Energy (NYSE: LEI) 13.7% LOWER; reported a $5.9 million equity offering this morning.
Spreadtrum Communications (NASDAQ: SPRD) 12.7% LOWER; Morgan Stanley downgraded Spreadtrum from Overweight to Equalweight.
3D Systems (Nasdaq: DDD) 12% HIGHER; traders may be buying ahead of the CEO's keynote speech at SPAR International 2012.
Pendrell Corporation (NASDAQ: PCO) 48.4% LOWER; announced today that the Court of Appeal of the State of California, Second District, has overturned the 2008 California Superior Court jury verdict in the litigation between Pendrell’s subsidiary, ICO Global Communications (Operations) Limited, and The Boeing Company (NYSE: BA)
OptimumBank Holdings (Nasdaq: OPHC) 47.5% HIGHER; continuing higher follow a very volatile run over the last two weeks. After surging more than 150 percent on Wednesday of last week, the stock sold off by 34 percent on Thursday and another 11 people on Friday.
Vringo, Inc. (NYSE: VRNG) 36.5% HIGHER; is indicated to open sharply higher after billionaire Mark Cuban disclosed a new 7.44%, or 1,030,720 share, stake in the company late Friday. Cuban disclosed his stake in a 13G filing, indicated a "passive investment" above 5%.
Dreams, Inc. (AMEX: DRJ) 30.3% HIGHER; has signed a definitive merger agreement with Fanatics, Inc., a leading online seller of licensed sports products. The agreement calls for Fanatics to acquire all the outstanding shares of the company for $3.45 per share in cash for an aggregate transaction value of approximately $183 million, taking into account $25 million of outstanding debt.
Halozyme (Nasdaq: HALO) 25.8% LOWER; Baxter (NYSE: BAX) and Halozyme provide update on HyQ Biologics license application: says the FDA has requested added info for review. The companies are now anticipating a deley related to the regulatory review.
Stratasys (Nasdaq: SSYS) 20.5% HIGHER; For the first quarter Stratasys expects to report revenue of approximately $45.0 million, a 31 percent increase compared with $34.3 million reported during the same period last year. Stratasys also expects to report non-GAAP net income of approximately $5.6 million to $6.3 million for the first quarter, or $0.27 to $0.29 per share, compared with $4.4 million, or $0.21 per share reported during the same period of last year. The Street sees revs of $41.64 million and EPS of 26 cents.
Lucas Energy (NYSE: LEI) 13.7% LOWER; reported a $5.9 million equity offering this morning.
Spreadtrum Communications (NASDAQ: SPRD) 12.7% LOWER; Morgan Stanley downgraded Spreadtrum from Overweight to Equalweight.
3D Systems (Nasdaq: DDD) 12% HIGHER; traders may be buying ahead of the CEO's keynote speech at SPAR International 2012.
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