Unusual 11 Mid-Day Movers 09/24: (DQ) (GNVC) (ACUR) Higher; (CY) (BIOS) (RHT) Lower
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GenVec, Inc. (Nasdaq: GNVC) 31.6% HIGHER; continuing higher after announcing that Stefan F. Loren, Ph.D., joined the company's board of directors late last week. Shares are up 75 percent from a close at $0.84 last Thursday.
Acura Pharmaceuticals, Inc. (Nasdaq: ACUR) 25.5% HIGHER; moving higher following news last week that NEXAFED, is now being sold in over 2,600 pharmacies nationwide.
FAB Universal (AMEX: FU) 20.5% HIGHER; has entered into an agreement with Future TV Co. Ltd. to distribute its copyright-protected media content through pay TV terminals used in the home by Future TV’s subscribers.
Greenway Medical Technologies, Inc. (NYSE: GWAY) 18.6% HIGHER; announced a definitive agreement which will result in the combination of the businesses of Greenway and Vitera Healthcare Solutions, LLC. Under the terms of the agreement, Vista Equity Partners, which owns Vitera Healthcare Solutions, will pay Greenway stockholders $20.35 in cash for each share of Greenway common stock they hold.
Eastern Insurance Holdings, Inc. (Nasdaq: EIHI) 15.7% HIGHER; agreed to be acquired by ProAssurance Corporation (NYSE: PRA) for $24.50 per share in cash. The transaction, with an aggregate value of approximately $205 million, is expected to close by January 1, 2014.
EZchip Semiconductor Ltd. (Nasdaq: EZCH) 15.5% HIGHER; rising after speculation earlier this month that Cisco (Nasdaq: CSCO) would replace EZchip in its NPU. Today's move in EZchip appears related to chatter Cisco said EZchip will not be replaced. The rumor is unconfirmed.
Cypress Semiconductor Corp. (Nasdaq: CY) 13.5% LOWER; lower today after curring Q3 expectations. Consolidated revenue is now expected to be $184 million to $187 million while adjusted EPS is expected at $0.10 to $0.12. The Street sees revs of $204.7 million and EPS of $0.17. For more color, cick here.
BioScrip, Inc. (Nasdaq: BIOS) 13.5% LOWER; could be lower following a PR from Pomerantz Grossman Hufford Dahlstrom & Gross LLP looking to file a class action.
Red Hat, Inc. (NYSE: RHT) 10.7% LOWER; sees FY14 sales of $1.51 - $1.52 billion, while estimates are at $1.53 billion. Sees FY14 EPS of $1.36 - $1.38, while the Street is at $1.35. The company sees Q3 revs of $381 million to $384 million. The Street is at $391.5 million. The company sees Q3 adjusted EPS of $0.34 - $0.35, with the Street at $0.34.
Corporate Resource Services, Inc. (Nasdaq: CRRS) 10.7% LOWER; continuing below its 50-day SMA as the stock slumps for the fifth-straight session.
Prosensa (Nasdaq: RNA) 8.8% LOWER; JPMorgan downgraded the stock from Overweight to Neutral with a price target of $6.50.
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