Unusual 11 Mid-Day Movers 06/24: ADG, MIPI, EDAP, VVTV, SBP, CDZI Higher; MAG, AMPL, CYS, PRKR, BID Lower
The Allied Defense Group, Inc. (AMEX: ADG) 59.9% HIGHER; announced that it has signed a definitive purchase agreement with Chemring Group PLC. Chemring has agreed to acquire substantially all of the assets of The Allied Defense Group for $59.6 million in cash and the assumption of certain liabilities. The closing of the transaction, which is subject to stockholder approval and other customary closing conditions, is expected within 90 days.
Molecular Insight Pharmaceuticals, Inc. (NASDAQ: MIPI) 40.0% HIGHER; today presented positive data from a completed Phase 2a clinical study of Azedra, (Ultratrace iobenguane I 131 or Ultratrace I-131-MIBG), the Company's lead oncology therapeutic that targets neuroblastoma, a common childhood cancer. View the release for full details.
EDAP TMS SA (Nasdaq: EDAP) 21.4% HIGHER; EDAP announced today that it has signed an exclusive agreement with Lumenis, GmbH, to distribute Lumenis urological Holmium/Nd:YAG lasers in France, starting June 2010. Click here for more from the release.
ShopNBC (Nasdaq: VVTV) 20.8% HIGHER; today announced that NBC Universal, Inc. has decided not to pursue its offering of 6,452,194 common shares in the company at this time due to prevailing prices.
Magnetek, Inc. (NYSE: MAG) 13.4% LOWER; announced today that, on June 21, 2010, the Company received notification from NYSE Regulation of being below the continued listing standards of the New York Stock Exchange. The Company is considered below criteria established by the NYSE because the Company’s average market capitalization has been less than $50 million over a consecutive 30 trading-day period and its last reported shareholders’ equity was less than $50 million.
Santander Bancorp (NYSE: SBP) 12.7% HIGHER; On June 24, 2010, Santander (NYSE: STD) filed a Tender Offer Statement on Schedule TO with the Securities and Exchange Commission and commenced a cash tender offer for all of the outstanding Shares that Administración de Bancos Latinoamericanos Santander, S.L did not already own of the Issuer for $12.69 per Share.
Cadiz Inc. (Nasdaq: CDZI) 11.2% HIGHER; Cadiz announced that two Southern California water agencies have approved agreements to proceed with the Cadiz Water Conservation & Storage Project (“Cadiz Project”) and participate in the Project’s environmental review. Click here for more from the release.
Ampal-American Israel (Nasdaq: AMPL) 9.9% LOWER; after making a surge early in the week on a stock purchase agreement announcement, gepping up above $1.52 [a prior resistance], shares got below that level today, and continues lower.
Cypress Sharpridge Investments (NYSE: CYS) 9.7% LOWER; lower today after announcing that it plans to offer, subject to market and other conditions, 8,000,000 shares of its common stock in an underwritten public offering. The Company also plans to grant the underwriters an option for 30 days to purchase up to an additional 1,200,000 shares of common stock. Barclays Capital Inc. is the sole book runner for the offering. JMP Securities LLC and Stifel, Nicolaus & Company, Incorporated are co-lead managers and Oppenheimer & Co. Inc. is a co-manager for the offering.
ParkerVision, Inc. (Nasdaq: PRKR) 9.3% LOWER; Shares getting below the $1.50 support.
Sotheby's (NYSE: BID) 8.8% LOWER; trading lower as a Sotheby's/Christie's auction in the UK yesterday did not go so well.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers..
Molecular Insight Pharmaceuticals, Inc. (NASDAQ: MIPI) 40.0% HIGHER; today presented positive data from a completed Phase 2a clinical study of Azedra, (Ultratrace iobenguane I 131 or Ultratrace I-131-MIBG), the Company's lead oncology therapeutic that targets neuroblastoma, a common childhood cancer. View the release for full details.
EDAP TMS SA (Nasdaq: EDAP) 21.4% HIGHER; EDAP announced today that it has signed an exclusive agreement with Lumenis, GmbH, to distribute Lumenis urological Holmium/Nd:YAG lasers in France, starting June 2010. Click here for more from the release.
ShopNBC (Nasdaq: VVTV) 20.8% HIGHER; today announced that NBC Universal, Inc. has decided not to pursue its offering of 6,452,194 common shares in the company at this time due to prevailing prices.
Magnetek, Inc. (NYSE: MAG) 13.4% LOWER; announced today that, on June 21, 2010, the Company received notification from NYSE Regulation of being below the continued listing standards of the New York Stock Exchange. The Company is considered below criteria established by the NYSE because the Company’s average market capitalization has been less than $50 million over a consecutive 30 trading-day period and its last reported shareholders’ equity was less than $50 million.
Santander Bancorp (NYSE: SBP) 12.7% HIGHER; On June 24, 2010, Santander (NYSE: STD) filed a Tender Offer Statement on Schedule TO with the Securities and Exchange Commission and commenced a cash tender offer for all of the outstanding Shares that Administración de Bancos Latinoamericanos Santander, S.L did not already own of the Issuer for $12.69 per Share.
Cadiz Inc. (Nasdaq: CDZI) 11.2% HIGHER; Cadiz announced that two Southern California water agencies have approved agreements to proceed with the Cadiz Water Conservation & Storage Project (“Cadiz Project”) and participate in the Project’s environmental review. Click here for more from the release.
Ampal-American Israel (Nasdaq: AMPL) 9.9% LOWER; after making a surge early in the week on a stock purchase agreement announcement, gepping up above $1.52 [a prior resistance], shares got below that level today, and continues lower.
Cypress Sharpridge Investments (NYSE: CYS) 9.7% LOWER; lower today after announcing that it plans to offer, subject to market and other conditions, 8,000,000 shares of its common stock in an underwritten public offering. The Company also plans to grant the underwriters an option for 30 days to purchase up to an additional 1,200,000 shares of common stock. Barclays Capital Inc. is the sole book runner for the offering. JMP Securities LLC and Stifel, Nicolaus & Company, Incorporated are co-lead managers and Oppenheimer & Co. Inc. is a co-manager for the offering.
ParkerVision, Inc. (Nasdaq: PRKR) 9.3% LOWER; Shares getting below the $1.50 support.
Sotheby's (NYSE: BID) 8.8% LOWER; trading lower as a Sotheby's/Christie's auction in the UK yesterday did not go so well.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers..
You May Also Be Interested In
Create E-mail Alert Related Categories
Special ReportsRelated Entities
UBS, JMP Securities, Barclays, Unusual 11 Mid-Day Movers, EIM GroupSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
