Unusual 11 Mid-Day Movers 09/26: (LPHI) (AM) (STSI) Higher; (PATH) (BTH) (OMN) Lower
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Life Partners Holdings, Inc. (Nasdaq: LPHI) 108.9% HIGHER; announced today that Travis County District Judge Stephen Yelenosky ruled that the life settlement transactions that it facilitates are not securities under Texas law.
NuPathe Inc. (Nasdaq: PATH) 26.7% LOWER; has entered into agreements with existing and new investors for the sale of $28 million of securities. The securities are being sold as units, with each unit consisting of 1/1,000th of a share of to-be designated Series A preferred stock and a warrant to purchase one share of the Company's common stock. The purchase price per unit is $2.00.
Blyth, Inc. (NYSE: BTH) 18.2% LOWER; subsidiary ViSalus withdrew its IPO due to uncertain market conditions.
American Greetings Corporation (NYSE: AM) 17.0% HIGHER; has received a non-binding proposal dated September 25th, 2012 from Zev Weiss, its Chief Executive Officer, and Jeffrey Weiss, its President and Chief Operating Officer, on behalf of themselves and certain other members of the Weiss family and related parties to acquire all of the outstanding Class A and Class B common shares of American Greetings not currently owned by the them for $17.18 per share.
Omnova Solutions, Inc. (NYSE: OMN) 15.4% LOWER; reported Q3 EPS of $0.16, $0.04 worse than the analyst estimate of $0.20. Revenue for the quarter came in at $288.2 million versus the consensus estimate of $288.8 million.
Star Scientific, Inc. (Nasdaq: STSI) 15.0% HIGHER; running higher on positive news behind its settlement with RJ Reynolds. Director Chris Chapman opted to exercise option on September 22, 2012, covering 50,000 shares. The price on the exercise was $3.93, which is above Star's close on Tuesday, possibly pointing to further upside.
Catalyst Pharmaceutical (Nasdaq: CPRX) 13.1% LOWER; has been advised by the Department of Veterans Affairs Cooperative Studies Program (VACSP) that the availability of top-line results from Catalyst's CPP-109 (vigabatrin) Phase II(b) trial for cocaine addiction will be delayed. VACSP now expects to provide the top-line results to the Company during the first half of November 2012. VACSP is the Company's collaborator responsible for the management and statistical analyses of the data being collected from the trial.
Calamp Corp. (Nasdaq: CAMP) 12.0% HIGHER; reported Q2 EPS of $0.17, $0.05 better than the analyst estimate of $0.12. Revenue for the quarter came in at $44 million versus the consensus estimate of $43.4 million.
West Coast Bancorp (Nasdaq: WCBO) 10.6% HIGHER; Columbia Banking System, Inc. (Nasdaq: COLB) and West Coast Bancorp jointly announced that the companies have agreed to combine their two leading Pacific Northwest community bank franchises in a transaction valued at approximately $506 million.
Sucampo Pharmaceuticals, Inc. (Nasdaq: SCMP) (SPI) 9.5% HIGHER; Sucampo and Takeda Pharmaceuticals U.S.A., Inc. (TPUSA) announced that the U.S. Food and Drug Administration (FDA) has granted priority review of their supplemental new drug application (sNDA) filing.
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NuPathe Inc. (Nasdaq: PATH) 26.7% LOWER; has entered into agreements with existing and new investors for the sale of $28 million of securities. The securities are being sold as units, with each unit consisting of 1/1,000th of a share of to-be designated Series A preferred stock and a warrant to purchase one share of the Company's common stock. The purchase price per unit is $2.00.
Blyth, Inc. (NYSE: BTH) 18.2% LOWER; subsidiary ViSalus withdrew its IPO due to uncertain market conditions.
American Greetings Corporation (NYSE: AM) 17.0% HIGHER; has received a non-binding proposal dated September 25th, 2012 from Zev Weiss, its Chief Executive Officer, and Jeffrey Weiss, its President and Chief Operating Officer, on behalf of themselves and certain other members of the Weiss family and related parties to acquire all of the outstanding Class A and Class B common shares of American Greetings not currently owned by the them for $17.18 per share.
Omnova Solutions, Inc. (NYSE: OMN) 15.4% LOWER; reported Q3 EPS of $0.16, $0.04 worse than the analyst estimate of $0.20. Revenue for the quarter came in at $288.2 million versus the consensus estimate of $288.8 million.
Star Scientific, Inc. (Nasdaq: STSI) 15.0% HIGHER; running higher on positive news behind its settlement with RJ Reynolds. Director Chris Chapman opted to exercise option on September 22, 2012, covering 50,000 shares. The price on the exercise was $3.93, which is above Star's close on Tuesday, possibly pointing to further upside.
Catalyst Pharmaceutical (Nasdaq: CPRX) 13.1% LOWER; has been advised by the Department of Veterans Affairs Cooperative Studies Program (VACSP) that the availability of top-line results from Catalyst's CPP-109 (vigabatrin) Phase II(b) trial for cocaine addiction will be delayed. VACSP now expects to provide the top-line results to the Company during the first half of November 2012. VACSP is the Company's collaborator responsible for the management and statistical analyses of the data being collected from the trial.
Calamp Corp. (Nasdaq: CAMP) 12.0% HIGHER; reported Q2 EPS of $0.17, $0.05 better than the analyst estimate of $0.12. Revenue for the quarter came in at $44 million versus the consensus estimate of $43.4 million.
West Coast Bancorp (Nasdaq: WCBO) 10.6% HIGHER; Columbia Banking System, Inc. (Nasdaq: COLB) and West Coast Bancorp jointly announced that the companies have agreed to combine their two leading Pacific Northwest community bank franchises in a transaction valued at approximately $506 million.
Sucampo Pharmaceuticals, Inc. (Nasdaq: SCMP) (SPI) 9.5% HIGHER; Sucampo and Takeda Pharmaceuticals U.S.A., Inc. (TPUSA) announced that the U.S. Food and Drug Administration (FDA) has granted priority review of their supplemental new drug application (sNDA) filing.
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