Unusual 11 Mid-Day Movers 10/18: (MMYT) (RTTR) (SPEX) Higher; (ICCC) (MBRX) (RLJE) Lower

October 18, 2016 1:04 PM EDT
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MakeMyTrip Limited (Nasdaq: MMYT) 46.6% HIGHER; MakeMyTrip and ibibo Group (owned by global technology group Naspers Limited), have agreed to pursue a transaction that will combine the two businesses under MMYT, creating one of the leading travel groups in India that provides a one-stop shop for all Indian travellers and serves as a critical partner for travel industry suppliers.

Ritter Pharmaceuticals, Inc. (Nasdaq: RTTR) 21.7% HIGHER; adding to gains from Monday after the company announced that the last patient has completed dosing and all monitoring visits in its Phase 2b/3 clinical trial of RP-G28 for the treatment of lactose intolerance. Topline results of the trial are expected to be announced in the first quarter of 2017.

Spherix Incorporated (Nasdaq: SPEX) 21.1% HIGHER; ramping higher from Monday after the provided an update on its active patent infringement lawsuits, new lawsuits filed, and spending reduction initiatives. Click here for more color.

Netflix (Nasdaq: NFLX) 19.6% HIGHER; reported Q3 EPS of $0.12, $0.06 better than the analyst estimate of $0.06. Revenue for the quarter came in at $2.29 billion versus the consensus estimate of $2.28 billion. Total Q3 net subscriber additions were 3.57 million.

ImmuCell Corporation (Nasdaq: ICCC) 15.7% LOWER; announced preliminary financial results for the third quarter of 2016. Revenue fell 20 percent to $1.97 million.

Moleculin Biotech (Nasdaq: MBRX) 14.5% LOWER; continuing a recent slide lower. The company is planning to hold a conference call on Thursday, October 20, 2016 at 5:00 pm Eastern Time, to discuss important positive developments regarding Annamycin, its drug candidate for the treatment of Acute Myeloid Leukemia, as well as to provide a general corporate update.

Abeona Therapeutics Inc. (Nasdaq: ABEO) 13.6% HIGHER; announced that the European Medicines Agency (EMA) Committee for Orphan Medicinal Products has granted Orphan Drug Designation for Abeona's lead gene therapy program ABO-102 for the treatment of patients with Sanfilippo syndrome type A (MPS IIIA), a rare autosomal recessive disease that causes neurocognitive decline, speech loss, loss of mobility, and premature death in children.

RLJ Entertainment (Nasdaq: RLJE) 13.5% LOWER; pulling back following a strong pop higher on Monday.

Resources Connection, Inc. (Nasdaq: RECN) 12.6% HIGHER; announced the commencement of a modified “Dutch auction” tender offer to purchase up to 6,000,000 shares of its common stock at a price per share not greater than $16.00 nor less than $13.50.

Consumer Portfolio Services (Nasdaq: CPSS) 11.3% LOWER; reported Q3 EPS of $0.26, $0.02 better than the analyst estimate of $0.24. Revenue for the quarter came in at $108.5 million versus the consensus estimate of $111 million.

Entercom Communications Corp. (NYSE: ETM) 11.6% HIGHER; announced an agreement to acquire four radio stations in Charlotte, NC from Beasley Broadcast Group, Inc. (Nasdaq: BBGI) for $24 million in cash. Beasley is selling the stations to comply with FCC ownership limitations related to its previously announced acquisition of Greater Media, Inc.

Capstone Turbine Corporation (Nasdaq: CPST) 9.8% LOWER; announced that it has agreed to sell 6.3 million shares of the Company’s common stock (“Common Stock”) to one existing and one new accredited investor in a registered offering. The Company will issue 3.6 million shares of Common Stock and pre-funded Series B warrants to purchase an additional 2.7 million shares of Common Stock to the purchasers, one of whose purchase of Common Stock in the offering otherwise would result in the purchaser beneficially owning more than 9.99% of the Company’s outstanding Common Stock following the completion of the offering.

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