Unusual 11 Mid-Day Movers 3/22: TWLL, XFN, CXG, RNN, BBX Higher; ETQ, BOFL, APPA, ZANE Lower
Techwell, Inc. (NASDAQ: TWLL) 47.8% HIGHER; Intersil Corporation (NASDAQ: ISIL) and Techwell announced today they have entered into a definitive agreement for Intersil to acquire Techwell through a cash tender offer at $18.50 per share. Net of Techwell's cash and equivalents, the transaction values Techwell at approximately $370 million.
Xfone (NYSE: XFN) 25.4% HIGHER; the stock is continuing its extremely volatile run this week. Over the last 14 trading sessions, shares of Xfone have had double-digit percentage moves during 9 days. Over this time period, the stock has risen more than 120%.
CNX Gas Corporation (NYSE: CXG) 22.8% HIGHER; announced production results from its latest horizontal well targeting the Marcellus Shale, the GH2BCV well in central Greene County, PA. This well has been producing for 16 days, at an average production rate of 4.9 MMcf per day. The peak daily production rate was 5.7 MMcf, and the current daily production rate is 5.5 MMcf. The well was drilled with a horizontal lateral of 2,035 feet and was hydraulically fractured with a 7-stage frac. "Our latest horizontal Marcellus Shale well is achieving record company results," commented J. Brett Harvey, chief executive officer.
Rexahn Pharmaceuticals, Inc. (Amex: RNN) 17% HIGHER; today announced the formation of its Parkinson’s Disease Scientific Advisory Board, featuring some of the leading medical researchers in neurology. The SAB actively will collaborate with Rexahn on the clinical development strategy for its CNS drug candidate, Serdaxin®.
Corriente Resources (AMEX: ETQ) 16.5% LOWER; shares have dipped solidly below the $8 level today. Volume is very heavy.
BankAtlantic (NYSE: BBX) 14.3% HIGHER; traders could be buying today as the stock sold-off by nearly 40% over the last two trading sessions of last week. Volume is down from Thursday and Friday's trading sessions, but still very heavy.
Bank of Florida (Nasdaq: BOFL) 13.8% LOWER; the stock has moved below the $1 technical level for the first time since mid-January.
AP Pharma (Nasdaq: APPA) 12.4% LOWER; the stock is continuing lower today following a 42% drop on Friday of last week.
Zanett, Inc. (Nasdaq: ZANE) 12.4% LOWER; announced today that on March 18, 2010, it received a letter from the Nasdaq Stock Market indicating that Zanett has regained compliance with the minimum bid price requirement for continued listing set forth in Nasdaq Listing Rule 5550(a)(2). This is likely a "sell the news" event.
Industrial Services of America, Inc. (NASDAQ: IDSA) 11.9% HIGHER; reports Q4 EPS of $0.36, versus ($0.69) reported for the same period a year ago. Revenue for the quarter was $37.7 million, compared to $10.6 million in Q408. Sees Q1 sales of $65-$75 million.
Gladstone Capital (Nasdaq: GLAD) 10.7% LOWER; it seems the stock was not able to hold above the $11 technical level and could be breaking down today.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
Xfone (NYSE: XFN) 25.4% HIGHER; the stock is continuing its extremely volatile run this week. Over the last 14 trading sessions, shares of Xfone have had double-digit percentage moves during 9 days. Over this time period, the stock has risen more than 120%.
CNX Gas Corporation (NYSE: CXG) 22.8% HIGHER; announced production results from its latest horizontal well targeting the Marcellus Shale, the GH2BCV well in central Greene County, PA. This well has been producing for 16 days, at an average production rate of 4.9 MMcf per day. The peak daily production rate was 5.7 MMcf, and the current daily production rate is 5.5 MMcf. The well was drilled with a horizontal lateral of 2,035 feet and was hydraulically fractured with a 7-stage frac. "Our latest horizontal Marcellus Shale well is achieving record company results," commented J. Brett Harvey, chief executive officer.
Rexahn Pharmaceuticals, Inc. (Amex: RNN) 17% HIGHER; today announced the formation of its Parkinson’s Disease Scientific Advisory Board, featuring some of the leading medical researchers in neurology. The SAB actively will collaborate with Rexahn on the clinical development strategy for its CNS drug candidate, Serdaxin®.
Corriente Resources (AMEX: ETQ) 16.5% LOWER; shares have dipped solidly below the $8 level today. Volume is very heavy.
BankAtlantic (NYSE: BBX) 14.3% HIGHER; traders could be buying today as the stock sold-off by nearly 40% over the last two trading sessions of last week. Volume is down from Thursday and Friday's trading sessions, but still very heavy.
Bank of Florida (Nasdaq: BOFL) 13.8% LOWER; the stock has moved below the $1 technical level for the first time since mid-January.
AP Pharma (Nasdaq: APPA) 12.4% LOWER; the stock is continuing lower today following a 42% drop on Friday of last week.
Zanett, Inc. (Nasdaq: ZANE) 12.4% LOWER; announced today that on March 18, 2010, it received a letter from the Nasdaq Stock Market indicating that Zanett has regained compliance with the minimum bid price requirement for continued listing set forth in Nasdaq Listing Rule 5550(a)(2). This is likely a "sell the news" event.
Industrial Services of America, Inc. (NASDAQ: IDSA) 11.9% HIGHER; reports Q4 EPS of $0.36, versus ($0.69) reported for the same period a year ago. Revenue for the quarter was $37.7 million, compared to $10.6 million in Q408. Sees Q1 sales of $65-$75 million.
Gladstone Capital (Nasdaq: GLAD) 10.7% LOWER; it seems the stock was not able to hold above the $11 technical level and could be breaking down today.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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