Unusual 11 Mid-Day Movers 4/12: CPRX, JAV, ABK, DCP, RPC Higher; QLTY, WAVX, ATEC, TELK Lower
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Catalyst Pharma (Nasdaq: CPRX) 82.5% HIGHER; traders are focusing on reports that the National Institute on Drug Abuse will design and implement preclinical/clinical studies related to the efficacy and safety of vigabatrin in cocaine and methamphetamine abusers. The stock gapped above the $1 level this morning.
Javelin Pharmaceuticals, Inc. (Amex: JAV) 61.2% HIGHER; announced today that it had received a binding offer from Hospira, Inc. (NYSE: HSP) and its wholly-owned subsidiary, Discus Acquisition Corporation, to enter into a merger agreement, a loan and security agreement and intellectual property security agreements whereby Discus will, subject to certain conditions, commence an all cash tender offer to acquire all of the outstanding shares of Javelin at a per share price of $2.20. Javelin terminated a merger agreement with Myriad Pharma.
Ambac Financial (NYSE: ABK) 50% HIGHER; continuing higher over the $1 level today. The stock surged more than 71% on Friday amid news of a Q4 profit of $1.93/share.
DynCorp International, Inc. (NYSE: DCP) 48.6% HIGHER; today announced it has entered into a definitive agreement to be acquired by affiliated funds and/or managed accounts of private investment firm Cerberus Capital Management, L.P. in a transaction with a total value of approximately $1.5 billion ($17.55 in cash per share), including the assumption of debt.
Radient Pharmaceuticals Corporation (Amex: RPC) 46.3% HIGHER; announced today it anticipates prospective purchasers or financiers will complete due diligence for RPC's China-based subsidiary Jade Pharmaceutical, Inc. by the end of May 2010.
Boots & Coots (NYSE: WEL) 24.9% HIGHER; late Friday, Halliburton (NYSE: HAL) announced an agreement to acquire WEL for $3 per share in cash in stock.
Quality Distribution (Nasdaq: QLTY) 11.3% LOWER; Stifel Nicolaus downgrades QLTY from Buy to Hold.
Wave Systems (Nasdaq: WAVX) 10.3% LOWER; the stock has just tumbled in mid-day trading but we are not hearing any company-specific news. Technicians may have stepped in as the stock approached and broken through the $3.50 level. Notably, shares have not closed in positive territory since March 29. Volume is very heavy today.
Alphatec Holdings, Inc. (NASDAQ: ATEC) 9.7% LOWER; announced that it is offering to sell 8,000,000 primary shares of its common stock and a selling shareholder, HealthpointCapital Partners, L.P., is offering 8,000,000 shares of Alphatec common stock in an underwritten public offering. Jefferies & Company, Inc. is acting as lead book-running manager for the offering, with Canaccord Adams Inc. acting as joint book-running manager and Cowen and Company, LLC and Lazard Capital Markets LLC acting as co-managers.
Telik (Nasdaq: TELK) 8.4% LOWER; traders appear to be taking profits today following a 44% surge last week. The stock appears to be holding over the $1 technical level.
Clean Energy Fuels (Nasdaq: CLNE) 6.4% LOWER; trading lower amid a negative article in Barron's this weekend.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
Javelin Pharmaceuticals, Inc. (Amex: JAV) 61.2% HIGHER; announced today that it had received a binding offer from Hospira, Inc. (NYSE: HSP) and its wholly-owned subsidiary, Discus Acquisition Corporation, to enter into a merger agreement, a loan and security agreement and intellectual property security agreements whereby Discus will, subject to certain conditions, commence an all cash tender offer to acquire all of the outstanding shares of Javelin at a per share price of $2.20. Javelin terminated a merger agreement with Myriad Pharma.
Ambac Financial (NYSE: ABK) 50% HIGHER; continuing higher over the $1 level today. The stock surged more than 71% on Friday amid news of a Q4 profit of $1.93/share.
DynCorp International, Inc. (NYSE: DCP) 48.6% HIGHER; today announced it has entered into a definitive agreement to be acquired by affiliated funds and/or managed accounts of private investment firm Cerberus Capital Management, L.P. in a transaction with a total value of approximately $1.5 billion ($17.55 in cash per share), including the assumption of debt.
Radient Pharmaceuticals Corporation (Amex: RPC) 46.3% HIGHER; announced today it anticipates prospective purchasers or financiers will complete due diligence for RPC's China-based subsidiary Jade Pharmaceutical, Inc. by the end of May 2010.
Boots & Coots (NYSE: WEL) 24.9% HIGHER; late Friday, Halliburton (NYSE: HAL) announced an agreement to acquire WEL for $3 per share in cash in stock.
Quality Distribution (Nasdaq: QLTY) 11.3% LOWER; Stifel Nicolaus downgrades QLTY from Buy to Hold.
Wave Systems (Nasdaq: WAVX) 10.3% LOWER; the stock has just tumbled in mid-day trading but we are not hearing any company-specific news. Technicians may have stepped in as the stock approached and broken through the $3.50 level. Notably, shares have not closed in positive territory since March 29. Volume is very heavy today.
Alphatec Holdings, Inc. (NASDAQ: ATEC) 9.7% LOWER; announced that it is offering to sell 8,000,000 primary shares of its common stock and a selling shareholder, HealthpointCapital Partners, L.P., is offering 8,000,000 shares of Alphatec common stock in an underwritten public offering. Jefferies & Company, Inc. is acting as lead book-running manager for the offering, with Canaccord Adams Inc. acting as joint book-running manager and Cowen and Company, LLC and Lazard Capital Markets LLC acting as co-managers.
Telik (Nasdaq: TELK) 8.4% LOWER; traders appear to be taking profits today following a 44% surge last week. The stock appears to be holding over the $1 technical level.
Clean Energy Fuels (Nasdaq: CLNE) 6.4% LOWER; trading lower amid a negative article in Barron's this weekend.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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