Unusual 11 Mid-Day Movers 9/17: SPDE, BEST, XNPT, SEED Higher; DIET, CNXT, COOL, HL Lower
Speedus Corp. (Nasdaq: SPDE) 150% HIGHER; Zargis Medical Corp., a spin-off from Siemens Corporate Research and a majority-owned subsidiary of , received FDA clearance to market its new Signal X6(TM) device. Zargis also announced the delivery of seven Signal X6 devices to the U.S. Army for deployment in six Department of Defense medical facilities.
Shiner International (Nasdaq: BEST) 54.8% HIGHER; not hearing any company-specific news that would justify today's sharp move higher. Volume is about 64x normal volume today.
XenoPort, Inc. (Nasdaq: XNPT) 25.3% HIGHER; Xeno Port and GlaxoSmithKline (NYSE: GSK) announced top-line results from a Phase IIb clinical trial evaluating the safety and efficacy of GSK1838262/XP13512 (gabapentin enacarbil) for neuropathic pain associated with post-herpetic neuralgia in adults. Click here for the full report.
Origin Agritech Limited (NASDAQ: SEED) 22.7% HIGHER; Origin Biotechnology announced it has reached an comprehensive, worldwide agreement with the Institute of Microbiology of the Chinese Academy of Sciences and Sichuan Biotech Engineering, Limited. CAS and Sichuan Biotech jointly own the rights to an internally developed gene which is highly tolerant to glyphosate (herbicide). This glyphosate-tolerance gene, demonstrated to be extremely effective in both laboratory and field environments, is entirely new to the consumer markets in that it has never been commercialized, and is protected by patents granted separately by China and USA separately.
eDiets.com (Nasdaq: DIET) 22% LOWER; correcting once again today. The stock fell more than 18% yesterday following a 116% run-up over the prior 4 trading sessions. Notably, volume in the stock was very heavy on its up days, while volume today and yesterday has been lower-than-normal.
Protection One (Nasdaq: PONE) 21.9% HIGHER; trading higher on news that the company will present at the ASIS International Show next week.
Cerus (Nasdaq: CERS) 20.5% HIGHER; shares appear to be breaking out above the 200-day smooth moving average today. Volume is very heavy.
Conexant (Nasdaq: CNXT) 16% LOWER; the stock price fell below the 200-day SMA this morning, meaning today's continued slide could be a technical break down.
Majesco Entertainment Company (Nasdaq: COOL) 15% LOWER; entered into definitive agreements to raise approximately $9.63 million in gross proceeds, before deducting placement agent fees and other estimated offering expenses, in a registered direct offering with select institutional investors. The offering includes the sale and issuance of 6.420 million shares of the Company's common stock, at a purchase price of $1.50 per share.
Hecla Mining (NYSE: HL) 11.6% LOWER; given the recent run in gold prices, shares of Hecla have not closed in the red since Sept. 1. Over this period, shares rose more than 56%. Today's downside move is likely a slight correction.
Synovus Financial Corp. (NYSE: SNV) 11.5% LOWER; priced a public offering of 150 million shares of its common stock at $4.00 per share. The underwriters will have a 30-day option to purchase up to an additional 22.5 million shares of the Company's common stock.
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