Morning Movers 12/30: CYCC, MAGS, LUNA, PIP, KFRC Higher; CBAK, TRMA, TSRA, VII Lower
Up)
Cyclacel Pharmaceuticals, Inc. (Nasdaq: CYCC) 27.9% HIGHER; announced the publication of an article that reviews and discusses the company's seliciclib (CYC202 or R-roscovitine) product candidate, an orally available inhibitor of multiple cyclin-dependent kinases and its mechanism of action. The peer-reviewed article, "Cyclin-Dependent Kinase Inhibitors as Anticancer Drugs" was published in the online edition of Current Drug Targets.
Magal Security Systems (Nasdaq: MAGS) 22.2% HIGHER; the stock seems to be breaking out on technicals today. Magal has been in the news recently given the recent attempted terrorist attack.
Luna Innovations (Nasdaq: LUNA) 19.1 HIGHER; the company announced yesterday that it has acquired certain assets of Tego Biosciences. Although the stock fell following the mid-day news, traders apparently are cheering the M&A action today.
China BAK Battery, Inc. (Nasdaq: CBAK) 18.4% LOWER; the stock ran up 63% yesterday on a rumor they would make the battery for the pending Google Nexus One smartphone, is down 25% today after denying it.
Trico Marine Services, Inc. (NASDAQ: TRMA) 18.2% LOWER; today announced that it has amended the Company's $50 Million U.S. Credit Agreement to, among other things, exclude the effect of impairment charges related to the cancellation of shipbuilding contracts for four multipurpose vessels being constructed in India. The Company expects to take an impairment charge during the fourth quarter in the range of $110 to $130 million principally for the shipbuilding cancellation.
PharmAthene (AMEX: PIP) 15.5% HIGHER; volume is very heavy this morning, but we are not hearing any company-specific news.
Kforce Inc. (NASDAQ: KFRC) 13.3% HIGHER; Kforce Government Solutions, Inc., a wholly-owned subsidiary of Kforce, announced today that it has entered into an Administrative Agreement with the Department of Interior that terminates the December 15, 2009 suspension of KGS from participating in new and renewed Federal government business. As a result of the Agreement, KGS is no longer proposed for debarment, and is now authorized to enter into new and renewed Federal business, effective immediately. Click here for the full report.
ICX Technologies (Nasdaq: ICXT) 11.9% HIGHER; moving higher with several other anti-terrorism stocks. Click the link from Magal to see details.
Magic Software Enterprises (Nasdaq: MGIC) 10.8% HIGHER; continuing higher following yesterday's dividend news. The stock jumped more than 19% yesterday.
Compugen Ltd. (NASDAQ: CGEN) 10.6% HIGHER; raised gross proceeds of $20 million, completing in full its previously announced Controlled Equity Offering facility. Under this facility, a total of approximately 4.1 million ordinary shares were sold at a weighted average price of approximately $4.91 per share. The net proceeds are intended for general corporate purposes.
Tessera Technologies (Nasdaq: TSRA) 10.5% LOWER; loses an ITC ruling against markers of computer-memory chips. The ITC said that there was no violation of Tessera patent.
Vicon Industries, Inc. (AMEX: VII) 8.5% LOWER; today announced that first fiscal quarter sales are expected to be off significantly from year ago levels. Vicon Chairman and CEO Ken Darby said sales for the December 31, 2009 first fiscal 2010 quarter are expected to be down 25-30% due to continuing weak market conditions. The Company also anticipates the lower sales to result in a net loss in the range of $600,000 to $800,000 (or $0.13 to $0.17 per share) for the first quarter.
Fannie Mae (NYSE: FNM) 8% LOWER; after rising nearly 21% on Monday amid the Treasury's blank check, traders are taking profits as it seems some questions have arose. Freddie Mac (NYSE: FRE) is also down about 7%.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
Magal Security Systems (Nasdaq: MAGS) 22.2% HIGHER; the stock seems to be breaking out on technicals today. Magal has been in the news recently given the recent attempted terrorist attack.
Luna Innovations (Nasdaq: LUNA) 19.1 HIGHER; the company announced yesterday that it has acquired certain assets of Tego Biosciences. Although the stock fell following the mid-day news, traders apparently are cheering the M&A action today.
China BAK Battery, Inc. (Nasdaq: CBAK) 18.4% LOWER; the stock ran up 63% yesterday on a rumor they would make the battery for the pending Google Nexus One smartphone, is down 25% today after denying it.
Trico Marine Services, Inc. (NASDAQ: TRMA) 18.2% LOWER; today announced that it has amended the Company's $50 Million U.S. Credit Agreement to, among other things, exclude the effect of impairment charges related to the cancellation of shipbuilding contracts for four multipurpose vessels being constructed in India. The Company expects to take an impairment charge during the fourth quarter in the range of $110 to $130 million principally for the shipbuilding cancellation.
PharmAthene (AMEX: PIP) 15.5% HIGHER; volume is very heavy this morning, but we are not hearing any company-specific news.
Kforce Inc. (NASDAQ: KFRC) 13.3% HIGHER; Kforce Government Solutions, Inc., a wholly-owned subsidiary of Kforce, announced today that it has entered into an Administrative Agreement with the Department of Interior that terminates the December 15, 2009 suspension of KGS from participating in new and renewed Federal government business. As a result of the Agreement, KGS is no longer proposed for debarment, and is now authorized to enter into new and renewed Federal business, effective immediately. Click here for the full report.
ICX Technologies (Nasdaq: ICXT) 11.9% HIGHER; moving higher with several other anti-terrorism stocks. Click the link from Magal to see details.
Magic Software Enterprises (Nasdaq: MGIC) 10.8% HIGHER; continuing higher following yesterday's dividend news. The stock jumped more than 19% yesterday.
Compugen Ltd. (NASDAQ: CGEN) 10.6% HIGHER; raised gross proceeds of $20 million, completing in full its previously announced Controlled Equity Offering facility. Under this facility, a total of approximately 4.1 million ordinary shares were sold at a weighted average price of approximately $4.91 per share. The net proceeds are intended for general corporate purposes.
Tessera Technologies (Nasdaq: TSRA) 10.5% LOWER; loses an ITC ruling against markers of computer-memory chips. The ITC said that there was no violation of Tessera patent.
Vicon Industries, Inc. (AMEX: VII) 8.5% LOWER; today announced that first fiscal quarter sales are expected to be off significantly from year ago levels. Vicon Chairman and CEO Ken Darby said sales for the December 31, 2009 first fiscal 2010 quarter are expected to be down 25-30% due to continuing weak market conditions. The Company also anticipates the lower sales to result in a net loss in the range of $600,000 to $800,000 (or $0.13 to $0.17 per share) for the first quarter.
Fannie Mae (NYSE: FNM) 8% LOWER; after rising nearly 21% on Monday amid the Treasury's blank check, traders are taking profits as it seems some questions have arose. Freddie Mac (NYSE: FRE) is also down about 7%.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
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