Unusual 11 Mid-Day Movers 08/16: (NFEC) (NTSC) (PTIX) Higher; (FMD) (CCCR) (FFHL) Lower
National Technical Systems (Nasdaq: NTSC) 37.7% HIGHER; entered into an Agreement and Plan of Merger to be acquired by an affiliate of Aurora Capital Group, a Los Angeles-based private equity firm, that will result in NTS becoming a privately held company when the merger is completed. Pursuant to the Merger Agreement, at the effective time of the merger each share of the Company's outstanding common stock will be converted into the right to receive an amount in cash equal to $23.00 per share.
First Marblehead Corp. (NYSE: FMD) 36.3% LOWER; reported Q4 EPS of ($0.14), $0.03 worse than the analyst estimate of ($0.11). Revenue for the quarter came in at $7.77 million versus the consensus estimate of $9.3 million.
China Commercial Credit, Inc. (Nasdaq: CCCR) 31.0% LOWER; another momentum mover dipping after rising 120 percent following its IPO earlier this week.
Pain Therapeutics (Nasdaq: PTIX) 28.8% HIGHER; moving higher as Pfizer plans to conduct a phase 1 of Remoxy, which examines the effects of food on oxycodone pharmacokinetics following 40-mg doses of PF-00345439 Formulation K. The results will be pitted against volunteers who are healthy and have fasted before receiving the dosage.
Mannatech (Nasdaq: MTEX) 26.6% HIGHER; moving higher as director Larry Jobe disclosed purchasing 7,500 shares on August 15th at $15.50 per share. The move bossted his direct holdings to 25,000 shares.
Fuwei Films (Holdings) Co., Ltd. (Nasdaq: FFHL) 26.3% LOWER; retracing after popping 190 percent Thursday on M&A news.
Mandalay Digital Group, Inc. and its subsidiaries (Nasdaq: MNDL) 22.8% LOWER; announced that it has priced an underwritten public offering of shares of common stock at a public offering price of $2.48 per share for gross proceeds of approximately $12 million, prior to deducting underwriting discounts and commissions and offering expenses payable by the Company. We have also granted the underwriter a 30-day option to purchase up to an additional 725,806 shares of common stock to cover over-allotments, if any.
Tofutti Brands Inc. (AMEX: TOF) 20.8% HIGHER; making a strong move back above the $2 resistance level today. Volume is about 14 times above the normal daily average.
Good Times Restaurants Inc. (Nasdaq: GTIM) 20.2% LOWER; announced the pricing of an underwritten public offering of 2,200,000 shares of our common stock together with warrants to purchase 2,200,000 shares of common stock and additional warrants to purchase 1,100,000 shares of common stock. The company sees net proceeds of $4.8 million.
Suntech Power (NYSE: STP) 13.9% HIGHER; Suntech up after slipping to $1.08 on Thursday's session on broader market pressure.
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