Unusual 11 Mid-Day Movers 2/22: IFLG, SCOK, MHJ, GPRE, TXCC Higher; OHB, CSKI, UWBK, CXDC Lower
InfoLogix (Nasdaq: IFLG) 83.2% HIGHER; shares have rocketed higher in the last hour of trading, possibly on the back of Obama's updated health care proposal. Volume is very heavy today: the stock has already traded 45,000 times, which compares to the average daily volume of just 7,000 shares.
SinoCoking Coal and Coke Chemical Industries, Inc. (NASDAQ: SCOK) 38.2% HIGHER; late Friday announced its plans to consolidate local area coal mines as a part of the government-directed consolidation of the coal mining industry in the Pindingshan region of Henan Province, China.
Man Sang International Limited (Amex: MHJ) 30.9% HIGHER; continuing higher today after announcing on Friday that it and Creative Gains Limited, its wholly owned subsidiary, have entered into a definitive merger agreement with China Metro-Rural Limited to combine the companies in an all stock transaction. The stock surged more than 37% on Friday.
Orleans Homebuilders, Inc. (Amex: OHB) 21.8% LOWER; announced that, as previously disclosed, the Company and its senior management have been working actively with the Company's bank lenders to obtain a maturity extension of its Second Amended and Restated Revolving Credit Loan Agreement dated September 30, 2008, as amended from time-to-time.
Green Plains Renewable Energy, Inc. (NASDAQ: GPRE) 18.7% HIGHER; reports Q4 EPS of $0.91, compared to ($0.08) in the same quarter last year. Revenue for the quarter was $436.7 million, which may not compare to the estimate of $1.29 billion, and $183.2 million for Q408.
TranSwitch (Nasdaq: TXCC) 16.4% HIGHER; continuing higher for the third trading session in a row, but not hearing any company-specific news. The stock has gained more than 40% over this period.
Xenoport, Inc. (Nasdaq: XNPT) 15% HIGHER; After getting crushed 66% last Thursday, XenoPort is up for the second straight session. The drop is the shares last week was related to an FDA Complete Response letter regarding the Horizant NDA in restless legs syndrome, which highlighted the risk of pancreatic cancer based on a signal in rats.
China Sky One Medical, Inc. (Nasdaq: CSKI) 14.8% LOWER; downside could be related to reports late last week from Asensio.com that eight products manufactured by the company appear in a Chinese government notice of "counterfeit drug products." The notice states that pharmacies should "immediately stop the sale" of these products, according to the report.
United Western Bancorp (Nasdaq: UWBK) 14.4% LOWER; no news today. The stock tumbled more than 17% on Friday as the price moved below the technical $3 level.
China XD Plastics (Nasdaq: CXDC) 13.5% LOWER; technicians may be selling the stock today as the price has fallen below the $8 level. Volume is extremely heavy. The stock has already traded nearly 600,000 shares; it normally only trades about 24,000 shares in an entire day of trading.
BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX) 7.2% LOWER; today announced additional positive safety data in its ongoing LibiGel Phase III clinical development program. Based on a review, the DMC once again unanimously recommended continuation of the study as described in the FDA-agreed LibiGel safety study protocol, with no modifications. Click here for the full report. Traders are selling the stock today, however.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
SinoCoking Coal and Coke Chemical Industries, Inc. (NASDAQ: SCOK) 38.2% HIGHER; late Friday announced its plans to consolidate local area coal mines as a part of the government-directed consolidation of the coal mining industry in the Pindingshan region of Henan Province, China.
Man Sang International Limited (Amex: MHJ) 30.9% HIGHER; continuing higher today after announcing on Friday that it and Creative Gains Limited, its wholly owned subsidiary, have entered into a definitive merger agreement with China Metro-Rural Limited to combine the companies in an all stock transaction. The stock surged more than 37% on Friday.
Orleans Homebuilders, Inc. (Amex: OHB) 21.8% LOWER; announced that, as previously disclosed, the Company and its senior management have been working actively with the Company's bank lenders to obtain a maturity extension of its Second Amended and Restated Revolving Credit Loan Agreement dated September 30, 2008, as amended from time-to-time.
Green Plains Renewable Energy, Inc. (NASDAQ: GPRE) 18.7% HIGHER; reports Q4 EPS of $0.91, compared to ($0.08) in the same quarter last year. Revenue for the quarter was $436.7 million, which may not compare to the estimate of $1.29 billion, and $183.2 million for Q408.
TranSwitch (Nasdaq: TXCC) 16.4% HIGHER; continuing higher for the third trading session in a row, but not hearing any company-specific news. The stock has gained more than 40% over this period.
Xenoport, Inc. (Nasdaq: XNPT) 15% HIGHER; After getting crushed 66% last Thursday, XenoPort is up for the second straight session. The drop is the shares last week was related to an FDA Complete Response letter regarding the Horizant NDA in restless legs syndrome, which highlighted the risk of pancreatic cancer based on a signal in rats.
China Sky One Medical, Inc. (Nasdaq: CSKI) 14.8% LOWER; downside could be related to reports late last week from Asensio.com that eight products manufactured by the company appear in a Chinese government notice of "counterfeit drug products." The notice states that pharmacies should "immediately stop the sale" of these products, according to the report.
United Western Bancorp (Nasdaq: UWBK) 14.4% LOWER; no news today. The stock tumbled more than 17% on Friday as the price moved below the technical $3 level.
China XD Plastics (Nasdaq: CXDC) 13.5% LOWER; technicians may be selling the stock today as the price has fallen below the $8 level. Volume is extremely heavy. The stock has already traded nearly 600,000 shares; it normally only trades about 24,000 shares in an entire day of trading.
BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX) 7.2% LOWER; today announced additional positive safety data in its ongoing LibiGel Phase III clinical development program. Based on a review, the DMC once again unanimously recommended continuation of the study as described in the FDA-agreed LibiGel safety study protocol, with no modifications. Click here for the full report. Traders are selling the stock today, however.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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