Morning Movers 12/29: BNVI, APPY, IPSU, FCEL, HOLL Higher; MACC, TRMS Lower
Bionovo, Inc. (NASDAQ: BNVI) 26.3% HIGHER; announced today the publication of results from its study on the anti-tumor mechanism of BN107. The results of the study, published in the International Journal of Cancer, describe the potential molecular mechanisms mediating the selective pro-apoptotic (cell death) effect induced by BN107 on estrogen receptor negative breast cancer cells. Click here to see the results.
AspenBio Pharma, Inc. (NASDAQ: APPY) 23.8% HIGHER; reported on its progress and plans for the Premarket Notification 510(k) submission of its ELISA format AppyScore test. AppyScore is the first blood-based test designed to aid in the evaluation of patients suspected of having acute appendicitis. Click here for the full report.
MACC Private Equities Inc. (Nasdaq: MACC) 23.3% LOWER; reports FY09 total investment income of $586,989, as compared to total investment income of $955,563 for fiscal year 2008. Net asset value per share at September 30, 2009 was $3.17, as compared to $4.23 at September 30, 2008 and $4.67 at September 30, 2007.
Trimeris, Inc. (NASDAQ: TRMS) 14.2% LOWER; Arigene Co., Ltd. today announced the termination of the tender offer for the outstanding common stock of Trimeris by RTM Acquisition Company. Click here for the full report.
Imperial Sugar Company (NASDAQ: IPSU) 13.9% HIGHER; announced that it settled the property insurance claim for the February 2008 industrial accident at its Port Wentworth, Georgia refinery for an aggregate of $345 million. The Company expects to recognize pre-tax gains of approximately $278 million in its first fiscal quarter ending December 31, 2009, as a result of the settlement. A final $45 million payment on the claim is expected to be received in early January. Previously the insurers had provided advance claim payments aggregating $300 million under the $350 million policy which provides for replacement cost coverage of physical property damage and business interruption coverage.
FuelCell Energy (Nasdaq: FCEL) 13.6% HIGHER; continuing higher today following reports that the industry is making a push for more government support for the industry. Volume is very heavy. Notably, the stock has risen about 12% over the last four trading sessions.
Hollywood Media Corp. (NASDAQ: HOLL) 13.3% HIGHER; announced today that it has reached a definitive agreement with privately held Key Brand Entertainment Inc. for the sale of its Broadway Ticketing Division based in New York City, through the sale of all of the outstanding capital stock of Theatre Direct NY, Inc., a wholly-owned subsidiary of Hollywood Media. Total consideration for the transaction is estimated at approximately $45 million, assuming all contingent amounts are paid.
CTC Media (Nasdaq: CTCM) 11.4% HIGHER; Deutsche Bank upgrades to Buy. Price target increased to $17. Click here to see more color on the upgrade.
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