Unusual 11 Mid-Day Movers 03/29: (TRCI) (GFRE) (CHGS) Higher; (HRZ) (ALTI) (DYP) Lower
Horizon Lines (AMEX: HRZ) 45.0% LOWER; traders have brought the stock below the $3 level for the first time since early 2009 following the filing of its latest 10-K. Horizon set a record low when shares hit an intraday low of $1.61 today.
Technology Research Corporation (Nasdaq: TRCI) 39.3% HIGHER; Coleman Cable, Inc. (Nasdaq: CCIX) and TRC today announced in a press release that the two companies came to a definitive merger agreement. Coleman will acquire all of the outstanding shares of TRCI for $7.20 per share in cash, in a transaction valued at approximately $51.5 million on a fully diluted basis. The transaction will be funded with Coleman's cash on hand and existing borrowing facilities, and will not be subject to any financing condition.
Altair Nanotechnologies, Inc. (Nasdaq: ALTI) 26.9% LOWER; has entered into several agreements for the private placement for $6.4 million of common stock. Under the terms of the transaction, these institutional investors will purchase 3.6 million shares of Altair common stock at a purchase price of $1.784 per share.
Duoyuan Printing (NYSE: DYP) 24.4% LOWER; NYSE to suspend trading in the stock.
Novogen (Nasdaq: NVGN) 21.2% LOWER; traders are taking profits today following a whopping 104% surge yesterday.
Gulf Resources, Inc. (Nasdaq: GFRE) 20.7% HIGHER; Brean Murray Carret & Co. started Gulf Resources with a Buy rating and $10 price target.
CryptoLogic (Nasdaq: CRYP) 14.8% LOWER; traders are taking profits this morning following a late-day surge yesterday. The stock has risen 78% over the last three trading sessions.
China GengSheng Minerals, Inc. (AMEX: CHGS) 14.0% HIGHER; announced that it has signed a definitive agreement with a local affiliate in Gongyi, Henan Province to manufacture 30,000 metric tons of its fracture proppants through the end of 2011.
Dot Hill Systems Corp. (Nasdaq: HILL) 13.8% HIGHER; may be seeing upside as Amazon.com (Nasdaq: AMZN) introduced its cloud-based music storage which allows users to save their music in a virtual cloud and access from everywhere. Dot Hill just happens to be a leader in virtual storage, and may see gains as companies rush to catch up and exceed Amazon.
China Shen Zhou Mining & Resources, Inc. (AMEX: SHZ) 13.4% HIGHER; reported Q4 loss of $0.09, compared to $0.48 for the same period last year. Revenue for the quarter came in at $4.89 million, versus $1.13 million last year. China Shen Zhou sees FY11 revenue of $38 million.
VirnetX Holding Corp (AMEX: VHC) 12.3% HIGHER; could be popping today from a blog post on SeekingAlpha that VirnetX intellectual property is the key for the advancement of 4G technology for mobile devices.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
Technology Research Corporation (Nasdaq: TRCI) 39.3% HIGHER; Coleman Cable, Inc. (Nasdaq: CCIX) and TRC today announced in a press release that the two companies came to a definitive merger agreement. Coleman will acquire all of the outstanding shares of TRCI for $7.20 per share in cash, in a transaction valued at approximately $51.5 million on a fully diluted basis. The transaction will be funded with Coleman's cash on hand and existing borrowing facilities, and will not be subject to any financing condition.
Altair Nanotechnologies, Inc. (Nasdaq: ALTI) 26.9% LOWER; has entered into several agreements for the private placement for $6.4 million of common stock. Under the terms of the transaction, these institutional investors will purchase 3.6 million shares of Altair common stock at a purchase price of $1.784 per share.
Duoyuan Printing (NYSE: DYP) 24.4% LOWER; NYSE to suspend trading in the stock.
Novogen (Nasdaq: NVGN) 21.2% LOWER; traders are taking profits today following a whopping 104% surge yesterday.
Gulf Resources, Inc. (Nasdaq: GFRE) 20.7% HIGHER; Brean Murray Carret & Co. started Gulf Resources with a Buy rating and $10 price target.
CryptoLogic (Nasdaq: CRYP) 14.8% LOWER; traders are taking profits this morning following a late-day surge yesterday. The stock has risen 78% over the last three trading sessions.
China GengSheng Minerals, Inc. (AMEX: CHGS) 14.0% HIGHER; announced that it has signed a definitive agreement with a local affiliate in Gongyi, Henan Province to manufacture 30,000 metric tons of its fracture proppants through the end of 2011.
Dot Hill Systems Corp. (Nasdaq: HILL) 13.8% HIGHER; may be seeing upside as Amazon.com (Nasdaq: AMZN) introduced its cloud-based music storage which allows users to save their music in a virtual cloud and access from everywhere. Dot Hill just happens to be a leader in virtual storage, and may see gains as companies rush to catch up and exceed Amazon.
China Shen Zhou Mining & Resources, Inc. (AMEX: SHZ) 13.4% HIGHER; reported Q4 loss of $0.09, compared to $0.48 for the same period last year. Revenue for the quarter came in at $4.89 million, versus $1.13 million last year. China Shen Zhou sees FY11 revenue of $38 million.
VirnetX Holding Corp (AMEX: VHC) 12.3% HIGHER; could be popping today from a blog post on SeekingAlpha that VirnetX intellectual property is the key for the advancement of 4G technology for mobile devices.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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