Morning Movers 12/16: ACHN, EONC, YRCW, DPTR, EMKR Higher; HLCS, TNL, PLA, CYCC, SNSS Lower
Achillion Pharmaceuticals, Inc. (NASDAQ: ACHN) 62.8% HIGHER; today reported proof of concept data from the preliminary results of its phase 1b clinical trial of ACH-1625, demonstrating that treatment with ACH-1625 achieved a mean 3.94 log10 reduction in HCV RNA after five-day monotherapy, with continued good safety and tolerability in patients with hepatitis C. ACH-1625 is an inhibitor of HCV NS3 protease that was discovered and is being developed by Achillion. Click here for the full report.
Helicos BioSciences Corporation (NASDAQ: HLCS) 30.8% LOWER; announced today that it has priced a registered direct offering of 6.4 million units, at a price of $1.00 per unit, for gross proceeds of $6.4 million before deducting underwriting discounts and commissions and estimated offering expenses.
eOn Communications Corporation (Nasdaq: EONC) 19.3% HIGHER; reports Q1 EPS of $0.14, compared to $0.05 in the same quarter last year. Revenue for the quarter was $4.53 million, versus $1.78 million in Q108.
YRC Worldwide Inc. (NASDAQ: YRCW) 15.8% HIGHER; announced today that it has extended the expiration date for the exchange offers until 11:59 p.m., New York City time, on December 17, 2009, unless further extended. The staff of the U.S. SEC has informed the company that the staff does not have further comments to the company's Registration Statement on Form S-4 relating to the exchange offers or other filings with the SEC currently under review, and as a result the company expects that the SEC will declare the registration statement effective shortly. Click here to see the full report.
Delta Petroleum (Nasdaq: DPTR) 14.2% HIGHER; continuing higher once again today following Monday and Tuesday's 33% jump amid a credit rating upgraded at S&P.
EMCORE Corporation (NASDAQ: EMKR) 13.8% HIGHER; reports Q4 loss of $0.17, versus the analyst estimate of ($0.12). Revenue for the quarter was $40.5 million, which compares to the estimate of $39.8 million. Sees Q110 revs of $41 - $43 million, versus $40.6 consensus.
Technitrol, Inc., (NYSE: TNL) 13.8% LOWER; announced that it has commenced and priced an offering of $50 million aggregate principal amount of 7.00% convertible senior notes, due in 2014.
Playboy Enterprises Inc. (NYSE: PLA) 12.2% LOWER; under pressure on reports from Bloomberg Iconix Brand (Nasdaq: ICON) is breaking off talks to buy Playboy Enterprises Inc. after determining it would be too complicated to separate the Playboy brand from the company’s other assets, said two people familiar with the matter.
Cyclacel Pharmaceuticals, Inc. (Nasdaq: CYCC) 12.1% LOWER; was notified by the NASDAQ Staff that the Company does not comply with the minimum $10 million stockholders' equity requirement set forth in NASDAQ Listing Rule 5450(b)(1)(A) and that the Company's securities are subject to delisting from The Nasdaq Global Market unless the Company requests a hearing before a NASDAQ Listing Qualifications Panel.
Mattson Technology, Inc. (NASDAQ: MTSN) 12% HIGHER; announced a leading semiconductor foundry based in Asia has placed multiple orders for the Company's Suprema photoresist strip system. The Company noted that the Suprema systems would be used for all dry strip applications including the high dose implant strip, which is the most difficult dry strip process. The tool shipments will start in the current quarter and continue into the first half of 2010.
Sunesis Pharma (Nasdaq: SNSS) 10.9% LOWER; this stock and CYCC have been trading very similarly over the last few sessions. Today SNSS may be responding to CYCC's non-compliance letter.
ReneSola (NYSE: SOL) 10.4% HIGHER; Morgan Stanely boosted its investment rating on the stock from Equalweight to Overweight, also raising its price target from $2.30 to $6.60.
Fannie Mae (NYSE: FNM) 10.2% LOWER; traders may be responding to the re-opening of the company's 5-year benchmark notes auction.
GigaMedia Limited (NASDAQ: GIGM) 9.8% HIGHER; announced today an exciting strategic alliance with European online gambling leader Mangas Gaming by way of a sale of 60 percent of GigaMedia's online gambling software business to Mangas. Click here for the full report.
FGX International Holdings Limited (NASDAQ: FGXI) 8.6% HIGHER; today announced that it has signed a definitive agreement to merge with a subsidiary of Essilor International of Charenton-le-Pont, France. Essilor shares trade on the NYSE Euronext Paris market and are included in the CAC 40 index. Click here for the full report. The stock was downgraded at Janney.
G-III Apparel Group, Ltd. (NASDAQ: GIII) 8.2% LOWER; today announced that it has priced an underwritten public offering of 1,700,000 shares of its common stock at a price to the public of $19.50 per share. All of the shares are being offered by the Company. In connection with the offering, the Company has also granted the underwriters a 30-day option to purchase up to an additional 255,000 shares of common stock to cover over-allotments, if any.
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