Morning Movers 06/21: (TOBC) (CTFO) (WAVX) Higher; (NSPH) (DEXO) (GRZ) (ACUR) Lower

Tower Bancorp (Nasdaq: TOBC) 29.9% HIGHER; Tower and Susquehanna Bancshares have reached an agreement whereby Susquehanna will buy the company for about $28/share in a cash or stock deal (holders have option to receive either cash or 3.4696 shares of SUSQ).

Nanosphere, Inc. (Nasdaq: NSPH) 23.4% LOWER; to update on its premarket approval application following the FDA issuance of a not approvable letter for the Verigene Clopidogrel Metabolism Nucleic Acid Test (Plavix Metabolism). The Company believes the deficiencies cited in the FDA letter are resolvable and ultimately the PMA for the Plavix Metabolism test will be approved by the FDA, although there can be no assurance of such approval.

China TransInfo Technology Corp. (Nasdaq: CTFO) 18.8% HIGHER; announces the $3 million acquisition of the Company's common stock by its Chairman and CEO, Shudong Xia. The move comes after having already purchased $2 million worth of stock year-to-date. The share purchases will be made in a manner consistent with China TransInfo's stock-trading policy and relevant securities laws.

Wave Systems (Nasdaq: WAVX) 18.3% HIGHER; seems to be rebounding from a support level under $2.25. Shares jumped more than 11 percent yesterday.

PharmAthene (AMEX: PIP) 15.4% HIGHER; the stock is finally bouncing today following eight straight sessions of closing in the red. Shares tumbled more than 40 percent over this period. The downside was initially spurred by a $6.5 million direct offering.

Dex One (Nasdaq: DEXO) 13.3% LOWER; paring gains today following a 38 percent rise yesterday amid news of a certified partnership with Google's (Nasdaq: GOOG) AdWords.

Gold Reserve Inc. (AMEX: GRZ) 11.9% LOWER; has received a written notice that the NYSE Amex LLC intends to file a delisting application with the SEC to remove the Company's common shares from being listed on the Exchange.

BPZ Resources (NYSE: BPZ) 10.4% HIGHER; shares have been extremely volatile over the last month, swinging more than 4 percent, on average, per day. The stock rose 16.9 percent on Friday and sold-off almost 9 percent yesterday.

Acura Pharma (Nasdaq: ACUR) 10.4% LOWER; traders are taking profits this morning following a 16 percent surge yesterday amid FDA approval of its Oxectatm for paint management.

China Gerui Advanced Materials Group Limited (Nasdaq: CHOP) 10% HIGHER; reports that it has bought back 780,273 ordinary shares at $3.82 per share in its recently $10 million common buyback program.

Synthesis Energy Systems (Nasdaq: SYMX) 10% HIGHER; continuing to correct today following a 24 percent decline over last week.

GTx (Nasdaq: GTXI) 9.4% LOWER; has given back all gains from yesterday. The stock was up 11 percent.

Susquehanna Bancshares (Nasdaq: SUSQ) 9.1% LOWER; buying Tower Bancorp.

Basic Energy Services (NYSE: BAS) 8.8% HIGHER; Raymond James upgraded the stock from Market Perform to Strong Buy. New price target $32.

Aruba Networks (NASDAQ: ARUN) 7.7% HIGHER; Morgan Keegan initiates coverage on the stock with an Outperform. PT $35.

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