Unusual 11 Mid-Day Movers 09/27: NHWK, AAI, BLTI, BIOF, ACV, NPD Higher; HMPR, PTN, BPZ, BNVID, SQI Lower
NightHawk Radiology (Nasdaq: NHWK) 96.5% HIGHER; Virtual Radiologic (Nasdaq: VRAD) and NightHawk today announced that they have entered into a definitive agreement under which VRAD will acquire all of the outstanding common stock of NightHawk for $6.50 per share in cash. The offer price represents a premium of 100% over NightHawk's last closing stock price of $3.25 per share. The transaction is valued at approximately $170 million.
AirTran (NYSE: AAI) 62.0% HIGHER; Southwest Airlines (NYSE: LUV) to acquire AirTran for about $7.69/share. Click here to see the full report.
Biolase (Nasdaq: BLTI) 59.8% HIGHER; announces a definitive pact with Henry Schein (Nasdaq: HSIC); the pact changes to a non-exclusive distribution deal. Also announced that it has completed a corporate-wide reorganization. The company has achieved the goal of reducing its current sales breakeven level by 30%. Click here to see the full report.
Biofuel Energy Corp. (Nasdaq: BIOF) 35.7% HIGHER; announced that they have entered into a six-month bridge loan agreement with Greenlight Capital, Inc., its affiliates, and an affiliate of Third Point LLC. Click here to see the full report.
Hampton Roads Bankshares, Inc. (Nasdaq: HMPR) 20.6% LOWER; announced that they have received regulatory approval for their planned $255 million private placement of common stock.
Alberto-Culver Co. (NYSE: ACV) 19.8% HIGHER; confirmed entered into a definitive agreement to be acquired by Unilever (NYSE: UL) for $37.50 per share in cash, or approximately $3.7 billion. Click here to see the full report.
Palatin Technologies (AMEX: PTN) 19.4% LOWER; a 1-for-10 reverse stock split went effective today. In addition, the company reported a Q4 loss of 40c, compared to a loss of 2c during the same quarter last year, on sales of $700,000, vs. the $4.2 million reported in Q409.
China Nepstar Chain Drugstore Ltd. (NYSE: NPD) 17.6% HIGHER; shooting higher today, as the stock had been flirting with the $3.20 mark over the last several weeks. Wal Mart (NYSE: WMT) announcing a $4 billion acquisition proposal for Massmart in South Africa could be boosting the stock, with hopes of more M&A in the sector.
BPZ Resources, Inc. (NYSE: BPZ) 13.7% LOWER; announced today the completion of well CX11-23D with a sustained initial production rate of approximately 1,500 barrels of oil per day. The Company has also received a denial of its request for reconsideration of the Extended Well Testing permit for the Corvina 19D well. The stock was also downgraded at Wunderlich.
Bionovo, Inc. (Nasdaq: BNVID) 12.4% LOWER; still giving some back as investors take profit following a 56% surge by the shares last Thursday, after the company announed that the U.S. FDA accepted the Company's Chemistry, Manufacturing and Controls plan for its lead drug candidate, Menerba, in a Type "B" or "End of Phase 2" meeting. With this designation, the decisions and agreements are now considered binding on the Company and the FDA.
SciQuest (Nasdaq: SQI) 9% LOWER; traders are taking profits today following a 29% rise above its $9.50 initial pricing on Friday. Traders were surprised last week after the stock opened for trading just below $12 and went parabolic, trading to as high as $13.75 before giving up all intraday gains.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers..
AirTran (NYSE: AAI) 62.0% HIGHER; Southwest Airlines (NYSE: LUV) to acquire AirTran for about $7.69/share. Click here to see the full report.
Biolase (Nasdaq: BLTI) 59.8% HIGHER; announces a definitive pact with Henry Schein (Nasdaq: HSIC); the pact changes to a non-exclusive distribution deal. Also announced that it has completed a corporate-wide reorganization. The company has achieved the goal of reducing its current sales breakeven level by 30%. Click here to see the full report.
Biofuel Energy Corp. (Nasdaq: BIOF) 35.7% HIGHER; announced that they have entered into a six-month bridge loan agreement with Greenlight Capital, Inc., its affiliates, and an affiliate of Third Point LLC. Click here to see the full report.
Hampton Roads Bankshares, Inc. (Nasdaq: HMPR) 20.6% LOWER; announced that they have received regulatory approval for their planned $255 million private placement of common stock.
Alberto-Culver Co. (NYSE: ACV) 19.8% HIGHER; confirmed entered into a definitive agreement to be acquired by Unilever (NYSE: UL) for $37.50 per share in cash, or approximately $3.7 billion. Click here to see the full report.
Palatin Technologies (AMEX: PTN) 19.4% LOWER; a 1-for-10 reverse stock split went effective today. In addition, the company reported a Q4 loss of 40c, compared to a loss of 2c during the same quarter last year, on sales of $700,000, vs. the $4.2 million reported in Q409.
China Nepstar Chain Drugstore Ltd. (NYSE: NPD) 17.6% HIGHER; shooting higher today, as the stock had been flirting with the $3.20 mark over the last several weeks. Wal Mart (NYSE: WMT) announcing a $4 billion acquisition proposal for Massmart in South Africa could be boosting the stock, with hopes of more M&A in the sector.
BPZ Resources, Inc. (NYSE: BPZ) 13.7% LOWER; announced today the completion of well CX11-23D with a sustained initial production rate of approximately 1,500 barrels of oil per day. The Company has also received a denial of its request for reconsideration of the Extended Well Testing permit for the Corvina 19D well. The stock was also downgraded at Wunderlich.
Bionovo, Inc. (Nasdaq: BNVID) 12.4% LOWER; still giving some back as investors take profit following a 56% surge by the shares last Thursday, after the company announed that the U.S. FDA accepted the Company's Chemistry, Manufacturing and Controls plan for its lead drug candidate, Menerba, in a Type "B" or "End of Phase 2" meeting. With this designation, the decisions and agreements are now considered binding on the Company and the FDA.
SciQuest (Nasdaq: SQI) 9% LOWER; traders are taking profits today following a 29% rise above its $9.50 initial pricing on Friday. Traders were surprised last week after the stock opened for trading just below $12 and went parabolic, trading to as high as $13.75 before giving up all intraday gains.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers..
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Daniel Loeb, Greenlight Capital, David Einhorn, Third Point LLC, Unusual 11 Mid-Day Movers, Virtual Radiologic/NightHawk RadiologySign up for StreetInsider Free!
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