Morning Movers 6/30: PEIX, STST, ABII, JSDA Higher; CWLZ, CFW, TIBB, SUPG, AYI, MELA, ADK Lower
Cowlitz Bancorporation (Nasdaq: CWLZ) 45.5% LOWER; today announced that on June 29, 2010 it received a letter from the Nasdaq Stock Market stating that the Nasdaq Hearings Panel denied the Company's request for a 90-day exception to the continued listing standards. Click here to see the full report.
Pacific Ethanol, Inc. (Nasdaq: PEIX) 43.5% HIGHER; announced the emergence from bankruptcy of Pacific Ethanol Holding Co. LLC and PEH's four wholly-owned ethanol production facility subsidiaries, effective today, June 29, 2010.
Argon ST (Nasdaq: STST) 40.1% HIGHER; to be acquired by Boeing (NYSE: BA) for $34.50/share. Click here to see the full report.
Abraxis BioScience Inc. (Nasdaq: ABII) 20% HIGHER; Celgene Corporation (NASDAQ: CELG) announced an agreement to acquire Abraxis in a deal worth $2.9 billion plus future payout. Click here for the full report.
Cano Petroleum, Inc. (AMEX: CFW) 19.5% LOWER; announced that it has been informed by Resaca Exploitation, Inc. that Resaca has postponed its public offering of common stock, due to market conditions. Resaca intended to use the proceeds of the offering to complete a refinancing of the indebtedness of Resaca and Cano, which is one of the remaining conditions precedent to the consummation of the proposed merger between the two companies. As a result of the postponement of the offering, the companies will not be able to consummate their merger within the time frame previously contemplated.
TIB Financial (Nasdaq: TIBB) 16.1% LOWER; North American Financial Holdings will invest $175 million in the company. TIB will sell NAFH 700 million shares at $0.15/share and 70,000 new shares of convertible preferred shares.
SuperGen, Inc. (Nasdaq: SUPG) 10.9% LOWER; announced that Eisai Inc. today released information regarding a randomized Phase III clinical trial of Dacogen® (decitabine) for Injection in elderly patients with acute myeloid leukemia. The comparator in this trial was low-dose cytarabine, a chemotherapy agent, or supportive care. Overall survival was the primary endpoint of this study. While Dacogen did not achieve statistically significant superiority over the control arm, a trend was evident.
Jones Soda (Nasdaq: JSDA) 10.6% HIGHER; bouncing today following two straight days of downside in which the stock tumbled more than 20%. Yesterday the company announced that it has ended a sponsorship partnership with the Seattle Seahawks.
Acuity Brands (NYSE: AYI) 10.4% LOWER; reports Q3 EPS from continuing operations of $0.48, versus the analyst estimate of $0.56. Revenue for the quarter was $407.6 million, which compares to the estimate of $410.13 million. Sees FY10 capex of $25 million.
MELA Sciences, Inc. (Nasdaq: MELA) 8.9% LOWER; today announced the pricing of an underwritten public offering of 2,200,000 shares of its common stock at a price of $7.50 per share. The company has also granted to the underwriters a 30-day option to acquire an additional 330,000 shares to cover overallotments, if any, in connection with the offering.
AdCare Health Systems, Inc. (AMEX: ADK) 8.6% LOWER; has priced a public offering of 1,714,286 shares of its common stock at $3.50 per share. AdCare expects to receive net proceeds of approximately $5.5 million from the sale of the common stock. AdCare has granted a 30-day option to the underwriter to purchase up to an additional 15% or 257,143 shares to cover over-allotments.
To get this report daily visit http://www.streetinsider.com/entities/Morning+Movers.
Pacific Ethanol, Inc. (Nasdaq: PEIX) 43.5% HIGHER; announced the emergence from bankruptcy of Pacific Ethanol Holding Co. LLC and PEH's four wholly-owned ethanol production facility subsidiaries, effective today, June 29, 2010.
Argon ST (Nasdaq: STST) 40.1% HIGHER; to be acquired by Boeing (NYSE: BA) for $34.50/share. Click here to see the full report.
Abraxis BioScience Inc. (Nasdaq: ABII) 20% HIGHER; Celgene Corporation (NASDAQ: CELG) announced an agreement to acquire Abraxis in a deal worth $2.9 billion plus future payout. Click here for the full report.
Cano Petroleum, Inc. (AMEX: CFW) 19.5% LOWER; announced that it has been informed by Resaca Exploitation, Inc. that Resaca has postponed its public offering of common stock, due to market conditions. Resaca intended to use the proceeds of the offering to complete a refinancing of the indebtedness of Resaca and Cano, which is one of the remaining conditions precedent to the consummation of the proposed merger between the two companies. As a result of the postponement of the offering, the companies will not be able to consummate their merger within the time frame previously contemplated.
TIB Financial (Nasdaq: TIBB) 16.1% LOWER; North American Financial Holdings will invest $175 million in the company. TIB will sell NAFH 700 million shares at $0.15/share and 70,000 new shares of convertible preferred shares.
SuperGen, Inc. (Nasdaq: SUPG) 10.9% LOWER; announced that Eisai Inc. today released information regarding a randomized Phase III clinical trial of Dacogen® (decitabine) for Injection in elderly patients with acute myeloid leukemia. The comparator in this trial was low-dose cytarabine, a chemotherapy agent, or supportive care. Overall survival was the primary endpoint of this study. While Dacogen did not achieve statistically significant superiority over the control arm, a trend was evident.
Jones Soda (Nasdaq: JSDA) 10.6% HIGHER; bouncing today following two straight days of downside in which the stock tumbled more than 20%. Yesterday the company announced that it has ended a sponsorship partnership with the Seattle Seahawks.
Acuity Brands (NYSE: AYI) 10.4% LOWER; reports Q3 EPS from continuing operations of $0.48, versus the analyst estimate of $0.56. Revenue for the quarter was $407.6 million, which compares to the estimate of $410.13 million. Sees FY10 capex of $25 million.
MELA Sciences, Inc. (Nasdaq: MELA) 8.9% LOWER; today announced the pricing of an underwritten public offering of 2,200,000 shares of its common stock at a price of $7.50 per share. The company has also granted to the underwriters a 30-day option to acquire an additional 330,000 shares to cover overallotments, if any, in connection with the offering.
AdCare Health Systems, Inc. (AMEX: ADK) 8.6% LOWER; has priced a public offering of 1,714,286 shares of its common stock at $3.50 per share. AdCare expects to receive net proceeds of approximately $5.5 million from the sale of the common stock. AdCare has granted a 30-day option to the underwriter to purchase up to an additional 15% or 257,143 shares to cover over-allotments.
To get this report daily visit http://www.streetinsider.com/entities/Morning+Movers.
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