Unusual 11 Mid-Day Movers 6/10: JAZZ, GRH, LEA, ATNI Higher; CNB, NCS, EFUT, SATC Lower
Jazz Pharmaceuticals, Inc. (Nasdaq: JAZZ) 158.8% HIGHER; announced after the close that data from the company's first Phase III clinical trial of sodium oxybate (JZP-6) for the treatment of fibromyalgia will be presented this week during the Associated Professional Sleep Societies 2009 Annual Meeting in Seattle, Washington and also during the European League Against Rheumatism Congress in Copenhagen, Denmark. The data at APSS will be presented on June 10 and June 11 and at EULAR on June 12.
GreenHunter Energy (AMEX: GRH) 111.8% HIGHER; continuing to see investor interest today following yesterday's 63% surge. As the company is involved in the acquisitions of assets in the renewable energy sector, the recent jump may be on the back of rising crude oil, which closed above the $70 mark yesterday for the first time in 7-months.
Lear (NYSE: LEA) 42.1% HIGHER; gains yesterday are following through today. News this morning that Chrysler will emerge from bankruptcy is also helping the auto supplier sector.
Atlantic Tele-Network Inc. (Nasdaq: ATNI) 41% HIGHER; shares are seeing significant upside action today following news yesterday that the company acquired certain wireless assets from Verizon Wireless for $200 million. Click here for the full report.
American Axle (NYSE: AXL) 29.6% HIGHER; see Lear.
XTENT, Inc. (Nasdaq: XTNT) 26.7% HIGHER; following a 550% jump on Thursday and Friday of last week on FDA approval news, shares corrected, falling 41%, but are surging again today on heavy volume.
The Colonial BancGroup, Inc. (NYSE: CNB) 25.6% HIGHER; announced its subsidiary Colonial Bank has entered into a Stipulation and Consent agreeing to the issuance of an Order to Cease and Desist with the FDIC and the Alabama State Banking Department. Pursuant to the Order, Colonial agreed to take certain actions intended to address various issues that have impacted the Bank's financial condition and performance. Among other things, the Order generally provides for the on-going management and oversight of the Bank, an increase in the Bank's capital levels, a reduction in the Bank's level of criticized assets, a reduction in concentrations of credit and improvement in the Bank's earnings. Click here for the full report.
NCI Building Systems, Inc. (NYSE: NCS) 24.1% LOWER; reports Q2 non-GAAP loss of $0.37, 1 cent worse than the analyst estimate of ($0.36). Revenue for the quarter was $224.7 million, versus the consensus of $255.21 million.
eFuture Information Technology Inc. (Nasdaq: EFUT) 20.9% LOWER; reports Q1 loss of $0.29, or a loss of RMB1.96, compared to a loss of RMB3.14 in the same quarter last year. Revenue for the quarter was $2.05 million, or RMB13.98 million, compared to RMB14,01 million in the same quarter last year. To better reflect its strong sales pipeline to date, particularly as a result of a rebound in its Logistics SBU, eFuture revised up 2009 revenue guidance to be in the range of US$28 million to US$29 million, representing annual growth of 38% to 40% over 2008 total revenues. Adjusted EBITDA (non- GAAP) is expected to be in the range of approximately US$5.1 million to US$6.1 million. This forecast is a current and preliminary view and is subject to change.
Satcon Technology Corporation (Nasdaq: SATC) 20.4% LOWER; today announced that it has priced its previously announced public offering of 15,557,692 shares of its common stock at a price to the public of $1.30 per share. The gross proceeds to Satcon, before expenses, from the sale of shares are expected to be $20,225,000. Satcon also granted the underwriters an option to purchase up to an additional 2,333,654 shares of its common stock. The closing of the offering is expected to take place on June 15, 2009.
MDRNA, Inc. (NASDAQ: MRNA) 18.5% LOWER; to sell 5.25 million shares of its common stock at $2.00 per share. As part of the transaction, the investors also will receive warrants, with a five and a half year term, to purchase 5.25 million shares of common stock at an exercise price of $2.38 per share. Click here for the full report.
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