Unusual 11 Mid-Day Movers 11/18: (EYEG) (SYUT) (DCIX) Higher; (SHIP) (GSL) (RLOG) Lower

November 18, 2016 1:24 PM EST

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Seanergy Maritime Holdings Corp. (Nasdaq: SHIP) 26.3% LOWER; announced that it has entered into a Securities Purchase Agreement with unaffiliated third party institutional investors, pursuant to which the Company will sell 1,305,000 shares of common stock at a purchase price of $2.75 per share for gross proceeds of $3.6 million in a registered direct offering.

Global Ship Lease (NYSE: GSL) 23.2% LOWER; paring back following recent gains.

EyeGate Pharmaceuticals, Inc. (Nasdaq: EYEG) 19.4% HIGHER; announced that, following a pre-submission meeting with the U.S. Food & Drug Administration (“FDA”), it plans to pursue U.S. regulatory clearance of its EyeGate Ocular Bandage Gel, via the De Novo 510(k) pathway. EyeGate OBG is the lead product candidate from the Company’s cross-linked, thiolated carboxymethyl hyaluronic acid (CMHA-S) platform. The Company plans to release top-line results by year-end, from its initial pilot study evaluating the ability of EyeGate OBG to accelerate ocular surface re-epithelialization following photorefractive keratectomy.

Rand Logistics, Inc. (Nasdaq: RLOG) 18.0% LOWER; retracing following a recent run higher.

Synutra International, Inc. (Nasdaq: SYUT) 17.8% HIGHER; announced it has entered into an Agreement and Plan of Merger (the "Merger Agreement") with Beams Power Investment Limited, a company with limited liability incorporated under the laws of the British Virgin Islands ("Parent"), and Beams Power Merger Sub Limited, a Delaware corporation and a wholly-owned subsidiary of Parent ("Merger Sub"), pursuant to which Merger Sub will merge with and into the Company, with the Company continuing as the surviving corporation and a wholly-owned subsidiary of Parent (the "Merger"). Parent currently beneficially owns approximately 63.5% of the Company's outstanding shares of common stock, $0.0001 par value per share (the "Company Common Stock"). Ms. Xiuqing Meng, spouse of Mr. Liang Zhang, is the sole shareholder of Parent. Mr. Liang Zhang is the chairman and chief executive officer of the Company.

Diana Containerships Inc. (Nasdaq: DCIX) 17.5% HIGHER; running higher following a brief pullback on Thursday.

Gap, Inc. (NYSE: GPS) 16.8% LOWER; reported Q3 EPS of $0.60, in-line with the analyst estimate of $0.60. Revenue for the quarter came in at $3.8 billion versus the consensus estimate of $3.74 billion. Gap Inc.’s comparable sales for the third quarter of fiscal year 2016 were down 3 percent, including an estimated negative impact from the Fishkill distribution center fire of approximately 2 percentage points, versus a 2 percent decrease last year.

Abercrombie & Fitch (NYSE: ANF) 15.6% LOWER; reported Q3 EPS of $0.02, $0.19 worse than the analyst estimate of $0.21. Revenue for the quarter came in at $821.7 million versus the consensus estimate of $830.6 million. Comparable sales for the third quarter down 6%.

Euroseas (Nasdaq: ESEA) 14.6% LOWER; another shipper seeing continued pressured following recent gains.

DryShips (Nasdaq: DRYS) 13.2% HIGHER; also bouncing higher following an equity offering on Thursday.

Haynes Int'l (Nasdaq: HAYN) 10.0% HIGHER; reported Q4 EPS of $0.25, $0.03 worse than the analyst estimate of $0.28. Revenue for the quarter came in at $107.5 million versus the consensus estimate of $107.3 million. The Company expects the revenue and earnings in the first quarter of fiscal 2017 to be to be lower than those achieved in the fourth quarter of fiscal 2016.

Marvell Technology (Nasdaq: MRVL) 9.0% HIGHER; reported Q3 EPS of $0.20, $0.08 better than the analyst estimate of $0.12. Revenue for the quarter came in at $654.4 million versus the consensus estimate of $615.89 million. Marvell Technology sees Q4 2017 EPS of $0.17-$0.21, versus the consensus of $0.13. Marvell Technology sees Q4 2017 revenue of $553.7-576.3 million, versus the consensus of $594.6 million.

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