Unusual 11 Mid-Day Movers 11/23: ABIO, SEED, FNET, CDTI Higher; NYNY, GGR, TTIL, PEET Lower
ARCA Biopharma, Inc. (NASDAQ: ABIO) 89.3% HIGHER; today announced that the U.S. FDA has designated as a Fast Track development program the investigation of Gencaro, the Company's investigational, pharmacologically unique beta-blocker and mild vasodilator, for the reduction of cardiovascular mortality and cardiovascular hospitalizations in a genotype-defined heart failure population. The Company intends to submit a study protocol for review under the FDA's Special Protocol Assessment process for the design of a clinical trial to assess the safety and efficacy of Gencaro in approximately 3,000 patients with chronic heart failure who have the genotype that appears to respond most favorably to Gencaro.
Origin Agritech Limited (NASDAQ: SEED) 74.9% HIGHER; Saturday announced it has received the Bio-safety Certificate from the Ministry of Agriculture as a final approval for commercial approval of the world's first genetically modified phytase corn. The stock was also upgraded to Market Outperform at Rodman & Renshaw.
FortuNet, Inc. (NASDAQ: FNET) 32% HIGHER; The Yuri Itkis Gaming Trust of 1993 announced today that it intends to make a tender offer for all of the outstanding shares of FortuNet Common Stock of not already owned by the Trust for $1.70 per share in cash.
Clean Diesel Technologies, Inc. (NASDAQ: CDTI) 29.8% HIGHER; today reported on a series of strategic developments consistent with its new product strategy, including an order from Metroline, a leading London bus operator, valued at approximately $528,000. Click here for the full report.
Financial Federal Corporation (NYSE: FIF) 29.7% HIGHER; People's United Financial, Inc. (NASDAQ: PBCT), the holding company for People's United Bank, announced today a definitive agreement to acquire Financial Federal in a stock and cash transaction valued at approximately $738 million.
Diedrich Coffee, Inc. (NASDAQ: DDRX) 26.7% HIGHER; Peet's Coffee & Tea, Inc. announced today that it delivered to the board of directors of Diedrich on Sunday, November 22, 2009 a proposal to enhance its previously announced offer to acquire Diedrich. Peet's revised proposal is a cash-and-stock offer valued at $32.00 per share, or a total value of approximately $265 million, based on Peet's closing stock price of $38.00 on Friday, November 20, 2009. Click here for the full report.
Empire Resorts Inc. (Nasdaq: NYNY) 17.3% LOWER; disclosed in an 8-K filing that On November 21, 2009, the St. Regis Mohawk Tribe issued a press release announcing the results of a referendum of its members pursuant to which the members of the Tribe indicated, by a vote of 178 - 140, that they do not support the Tribe pursing off-reservation gaming in the Catskills region of the State of New York.
GeoGlobal Resources (AMEX: GGR) 14.3% LOWER; correcting following Friday's 51% technical breakout.
TTI Telecom (Nasdaq: TTIL) 13% LOWER; correcting following Thursday and Friday's 49% and 23%, respectively, moves higher amid better-than-expected Q3 results.
Peet's Coffee & Tea (Nasdaq: PEET) 10.4% LOWER; moving lower on the back of its increased bid for Diedrich Coffee. The stock was also downgraded at Cowen & Co.
Cephalon Inc. (Nasdaq: CEPH) 8% LOWER; Ception Therapeutics, Inc. and Cephalon today announced results from a Phase IIb/III clinical trial for CINQUIL(TM) (reslizumab) as a treatment for pediatric eosinophilic esophagitis. Click here for the full report. The stock was also downgraded at RBC Capital.
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