Morning Movers 07/03: (VRS) (NSPH) (PCX) (CBK) Higher; (CHTP) Lower
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Verso Paper (NYSE: VRS) 56.4% HIGHER; the company has held discussions with certain holders of the 11.375% first-lien senior secured notes of NewPage Corporation.
Chelsea Therapeutics International, Ltd. (Nasdaq: CHTP) 37.1% LOWER; received a written response from the U.S. FDA to Chelsea's modified proposal for utilizing data from ongoing Study 306B to support its application for marketing approval of Northera™ (droxidopa) in the U.S. In its response, FDA advised Chelsea that, based on the theoretical potential for certain patients from Study 306B to have been unblinded in conjunction with the reporting of 306A data, the FDA cannot be confident that this information did not influence an amendment of the statistical analytic plan, and therefore believes, as presently planned, Study 306B is unlikely to provide sufficient confirmatory evidence to support a Northera™ (droxidopa) Capsules New Drug Application
Nanosphere (NASDAQ: NSPH) 31.7% HIGHER; Jefferies upgraded Nanosphere from Hold to Buy with a price target of $5.00 (from $2.00). Click here to see the full report.
Patriot Coal (NYSE: PCX) 26% HIGHER; shares are regaining the $1.50 resistance/support level as coal stocks continue to rebound. The Market Vectors Coal ETF (NYSE: KOL) is up 3.2 percent at last check.
Christopher & Banks Corp. (NYSE: CBK) 25.6% HIGHER; Aria Partners, which owns 4 percent of Christopher & Banks shares, sent a letter to the company’s board of directors urging it to consider Aria’s offer to acquire the company for $1.75 a share. Click here to read the full letter.
Longwei Petroleum (NYSE: LPH) 10.9% HIGHER; continuing to breakout following a 16 percent move late yesterday as technicians pushed the stock over the 50-day simple moving average, and, consequently, above resistance at $1.30.
The Corporate Executive Board Company (NYSE: EXBD) 10.5% HIGHER; Veronis Suhler Stevenson (VSS), has signed a definitive agreement to sell its portfolio company SHL to The Corporate Executive Board for $660 million in cash, subject to customary pre- and post-closing adjustments.
ReneSola (NYSE: SOL) 9.2% HIGHER; solar stocks are catching a bid this morning as Chinese regulators quadrupled a domestic installation goal for solar energy projects to 21 gigawatts by 2015. The Claymore/MAC Global Solar ETF (NYSE: TAN) is up 1.6 percent at last check.
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Chelsea Therapeutics International, Ltd. (Nasdaq: CHTP) 37.1% LOWER; received a written response from the U.S. FDA to Chelsea's modified proposal for utilizing data from ongoing Study 306B to support its application for marketing approval of Northera™ (droxidopa) in the U.S. In its response, FDA advised Chelsea that, based on the theoretical potential for certain patients from Study 306B to have been unblinded in conjunction with the reporting of 306A data, the FDA cannot be confident that this information did not influence an amendment of the statistical analytic plan, and therefore believes, as presently planned, Study 306B is unlikely to provide sufficient confirmatory evidence to support a Northera™ (droxidopa) Capsules New Drug Application
Nanosphere (NASDAQ: NSPH) 31.7% HIGHER; Jefferies upgraded Nanosphere from Hold to Buy with a price target of $5.00 (from $2.00). Click here to see the full report.
Patriot Coal (NYSE: PCX) 26% HIGHER; shares are regaining the $1.50 resistance/support level as coal stocks continue to rebound. The Market Vectors Coal ETF (NYSE: KOL) is up 3.2 percent at last check.
Christopher & Banks Corp. (NYSE: CBK) 25.6% HIGHER; Aria Partners, which owns 4 percent of Christopher & Banks shares, sent a letter to the company’s board of directors urging it to consider Aria’s offer to acquire the company for $1.75 a share. Click here to read the full letter.
Longwei Petroleum (NYSE: LPH) 10.9% HIGHER; continuing to breakout following a 16 percent move late yesterday as technicians pushed the stock over the 50-day simple moving average, and, consequently, above resistance at $1.30.
The Corporate Executive Board Company (NYSE: EXBD) 10.5% HIGHER; Veronis Suhler Stevenson (VSS), has signed a definitive agreement to sell its portfolio company SHL to The Corporate Executive Board for $660 million in cash, subject to customary pre- and post-closing adjustments.
ReneSola (NYSE: SOL) 9.2% HIGHER; solar stocks are catching a bid this morning as Chinese regulators quadrupled a domestic installation goal for solar energy projects to 21 gigawatts by 2015. The Claymore/MAC Global Solar ETF (NYSE: TAN) is up 1.6 percent at last check.
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