Unusual 11 Mid-Day Movers 10/20: (DRWI) (MBRX) (SPU) Higher; (RIGL) (FLXS) (DXPE) Lower
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Moleculin Biotech, Inc., (Nasdaq: MBRX) 36.8% HIGHER; rising ahead of an Annamycin-related conference call later on Thursday night.
SkyPeople Fruit Juice, Inc. (Nasdaq: SPU) 21.1% HIGHER; announced that it has requested a hearing before the NASDAQ Hearings Panel to appeal the delisting determination from the staff of the Listing Qualifications Department of NASDAQ (the "NASDAQ Staff"). In response, Company has received notification from the NASDAQ Stock Market that the delisting of its common stock has been stayed for a period of 15 calendar days, or until November 3, 2016, and its hearing before the NASDAQ Hearings Panel has been scheduled for December 15, 2016.
Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) 20.8% LOWER; announced results for the second of two double-blind studies in the FIT Phase 3 clinical program for fostamatinib, an oral spleen tyrosine kinase (SYK) inhibitor, in adult chronic/persistent immune thrombocytopenia (ITP). The primary endpoint was not met.
Gastar Exploration Inc. (NYSE: GST) 18.1% HIGHER; announced that it has executed a definitive agreement with a large private global investment fund ("Investor") to jointly develop up to 60 Gastar operated wells in the STACK Play in Kingfisher County, Oklahoma ("Development Agreement"). The drilling program ("Drilling Program") will target the Meramec and Osage formations within the Mississippi Lime on a contract area within three townships covering approximately 18,000 undeveloped net mineral acres under leases held by Gastar. Gastar will be the operator of all wells jointly developed under the Development Agreement.
Flexsteel (Nasdaq: FLXS) 17.5% LOWER; reported Q1 EPS of $0.61, versus $0.74 reported last year. Revenue for the quarter came in at $112.1 million, versus $126.5 million reported last year.
DXP Enterprises, Inc. (Nasdaq: DXPE) 17.1% LOWER; released preliminary unaudited selected financial information for its fiscal quarter ended September 30, 2016. Sales are anticipated to be between $228.0 million and $231.0 million, versus the consensus of $251 million.
Organovo Holdings, Inc. (Nasdaq: ONVO) 18.1% LOWER; announced the sale of 9,000,000 shares of its common stock in an underwritten public offering at a price to the public of $2.75 per share. In addition, the Company has granted the underwriters a 30-day option to purchase up to 1,350,000 additional shares of its common stock on the same terms and conditions. The gross offering proceeds to Organovo from the sale of the shares are expected to be approximately $25.0 million.
Syntel, Inc. (Nasdaq: SYNT) 16.8% LOWER; noted the following with its quarterly results press release on Thursday:
On October 17, 2016, the Board of Directors of Syntel named Anil Agrawal as Chief Financial Officer and Chief Information Security Officer, effective November 1, 2016. Mr. Agrawal, age 39, has been Acting Chief Financial Officer since November 2015 and has been with Syntel since 2001. Mr. Agrawal was previously a General Manager of Finance for Syntel and served as Head of Finance for the Company’s India operations from 2007 through December 2011 and Head of Corporate Financial Planning and Analytics from January 2012 to November 2015.
Ceragon Networks Ltd. (Nasdaq: CRNT) 11.2% HIGHER; announced that a Tier 1 US operator selected Ceragon as its primary wireless backhaul supplier to support its network densification and optimization strategy. This strategy is aimed at improving subscriber experience and continually meeting the growing demand for capacity. Initial orders for the FibeAir IP-20 Platform of over $4 million have been received in Q4.
Suncoke Energy (NYSE: SXC) % HIGHER; reported Q3 EPS of $0.10, $0.19 better than the analyst estimate of ($0.09). Revenue for the quarter came in at $293.9 million versus the consensus estimate of $274.5 million.
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