Unusual 11 Mid-Day Movers 03/19: (AMPE) (KNSY) (FRO) Higher; (CRME) (COGO) (MEMS) Lower
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Cardiome Pharma Corp. (Nasdaq: CRME) 53.9% LOWER; today announced that Merck (NYSE: MRK) has communicated to Cardiome their decision to discontinue further development of the oral formulation of vernakalant. The decision was based on Merck's assessment of the regulatory environment and projected development timeline. Vernakalant oral was being evaluated as maintenance therapy for the long term prevention of atrial fibrillation recurrence.
Ampio Pharmaceuticals, Inc. (Nasdaq: AMPE) 59% HIGHER; today announced that it completed the planned interim review of the first 50% of patients enrolled in the Optina trial for diabetic macular edema. Click here to see the full report.
Kensey Nash Corporation (Nasdaq: KNSY) 21.2% HIGHER; announced that the Company has entered into a settlement agreement with St. Jude Medical (NYSE: STJ) which resolves all disputes between the two companies relating to the Angio-Seal vascular closure device licenses, as well as other related claims. It also adjusted its outlook. For more color, click here.
Frontline (NYSE: FRO) 16.9% HIGHER; continuing higher today, now over the $8 level. Shares rallied more than 40 percent last week amid a surge in the Baltic Dry Index.
DHT Holdings (NYSE: DHT) 16.6% HIGHER; Baltic Dry Index continuing higher this week, now around 879. Shares surged 21 percent last week.
Agenus Inc. (Nasdaq: AGEN) 14.1% HIGHER; trading higher along with others in the smaller-cap biotech segment. Agenus got a positive SeekingAlpha article over the weekend. Notably trading over the $5.25 level and the stock's 200-day SMA.
AboveNet, Inc. (NYSE: ABVT) 13.1% HIGHER; Zayo Group, LLC and AboveNet today announced that their boards of directors have approved a definitive agreement under which Zayo will acquire AboveNet for approximately $2.2 billion
Cogo Group, Inc. (Nasdaq: COGO) 12.6% LOWER; pulling back following a massive move last Friday on a proposed $6 to $8 "go private" bid by CEO and Chairman, Jeffrey Kang. Shares closed just shy of 60 percent better last Friday.
MEMSIC Inc. (Nasdaq MEMS) 12.3% LOWER; Needham & Company downgraded MEMSIC from Buy to Hold earlier. For more color, click here.
China Ming Yang Wind Power (NYSE: MY) 10.7% LOWER; lower following a sharp 11 percent move higher over the last hour of trade on Friday. The stock has given up all these gains today. China reported worse-than-expected new home prices for February. Out of 70 total market covered, China reported a drop in prices for 27 markets, while six markets remained stagnant.
Dynegy (NYSE: DYN) 10.6% LOWER; shares have been extremely volatile since its bankruptcy examiner pointed to some fraudulent activity. Shares tumbled about 70 percent over the March 9th and March 12th sessions. The stock bounced sharply last week, however traders who bought in following the sell off now appear to be taking profits. Shareholder Seneca Capital reduced its stake in Dynegy shares to below 5 percent this morning.
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Ampio Pharmaceuticals, Inc. (Nasdaq: AMPE) 59% HIGHER; today announced that it completed the planned interim review of the first 50% of patients enrolled in the Optina trial for diabetic macular edema. Click here to see the full report.
Kensey Nash Corporation (Nasdaq: KNSY) 21.2% HIGHER; announced that the Company has entered into a settlement agreement with St. Jude Medical (NYSE: STJ) which resolves all disputes between the two companies relating to the Angio-Seal vascular closure device licenses, as well as other related claims. It also adjusted its outlook. For more color, click here.
Frontline (NYSE: FRO) 16.9% HIGHER; continuing higher today, now over the $8 level. Shares rallied more than 40 percent last week amid a surge in the Baltic Dry Index.
DHT Holdings (NYSE: DHT) 16.6% HIGHER; Baltic Dry Index continuing higher this week, now around 879. Shares surged 21 percent last week.
Agenus Inc. (Nasdaq: AGEN) 14.1% HIGHER; trading higher along with others in the smaller-cap biotech segment. Agenus got a positive SeekingAlpha article over the weekend. Notably trading over the $5.25 level and the stock's 200-day SMA.
AboveNet, Inc. (NYSE: ABVT) 13.1% HIGHER; Zayo Group, LLC and AboveNet today announced that their boards of directors have approved a definitive agreement under which Zayo will acquire AboveNet for approximately $2.2 billion
Cogo Group, Inc. (Nasdaq: COGO) 12.6% LOWER; pulling back following a massive move last Friday on a proposed $6 to $8 "go private" bid by CEO and Chairman, Jeffrey Kang. Shares closed just shy of 60 percent better last Friday.
MEMSIC Inc. (Nasdaq MEMS) 12.3% LOWER; Needham & Company downgraded MEMSIC from Buy to Hold earlier. For more color, click here.
China Ming Yang Wind Power (NYSE: MY) 10.7% LOWER; lower following a sharp 11 percent move higher over the last hour of trade on Friday. The stock has given up all these gains today. China reported worse-than-expected new home prices for February. Out of 70 total market covered, China reported a drop in prices for 27 markets, while six markets remained stagnant.
Dynegy (NYSE: DYN) 10.6% LOWER; shares have been extremely volatile since its bankruptcy examiner pointed to some fraudulent activity. Shares tumbled about 70 percent over the March 9th and March 12th sessions. The stock bounced sharply last week, however traders who bought in following the sell off now appear to be taking profits. Shareholder Seneca Capital reduced its stake in Dynegy shares to below 5 percent this morning.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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