Unusual 11 Mid-Day Movers 03/12: (GLUU) (OCZ) (CLIR) Higher; (PGRX) (CBMX) (EMAN) Lower
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Glu Mobile Inc. (Nasdaq: GLUU) 19.8% HIGHER; announced the availability of the company's first real-money mobile gambling offering through Probability plc, the mobile entertainment gambling provider. The mobile slot game features intellectual property from Glu's popular Samurai vs. Zombies Defense and is made available to mobile real-money gamers in the UK through Probability's distribution network.
OCZ Technology Group, Inc. (Nasdaq: OCZ) 17.8% HIGHER; has entered into a $30 million loan and security agreement with Hercules Technology Growth Capital, Inc. (NASDAQ: HTGC). This loan agreement consists of a $15 million term loan and a $15 million revolving loan facility.
ClearSign Combustion Corporation (Nasdaq: CLIR) 15.9% HIGHER; announced that, following a successful presentation last year, CTO Joe Colannino has again been invited to present a technical paper "Progress and Recent Advances Using ECC" Technology" at the American Flame Research Committee's (AFRC) Industrial Combustion Symposium, "Safe and Responsible Development in the 21st Century," to be held in Kauai, Hawaii on September 22 - 25, 2013.
Prospect Global Resources, Inc. (Nasdaq: PGRX) 14.6% LOWER; terminated a $100 million financing agreement with Apollo Global Management (NYSE: APO). Upon execution of the Termination and Release Agreement (i) Prospect Global paid the Apollo Parties $750,000 in cash and issued two Promissory Notes totaling approximately $6.75 million (described in Item 2.03 below) as a break up and release payment and (ii) Prospect Global reimbursed the Apollo Parties for $2.16 million of expenses incurred by them in connection with the Apollo Financing. The agreement also contains mutual releases.
CombiMatrix Corporation (Nasdaq: CBMX) 14.1% LOWER; received written notice from the NASDAQ Stock Market on March 11, 2013, indicating that the Company is no longer in compliance with the minimum stockholders’ equity requirement for continued listing on the NASDAQ Capital Market. NASDAQ Capital Market Listing Rule 5550(b)(1) requires registrants to maintain a minimum of $2,500,000 in stockholders equity unless the registrant has met one of the alternative standards of market value of listed securities or net income from continuing operations. In the Company’s Form 8-K filed on February 27, 2013, the Company reported stockholders’ equity of negative $1,119,000 for the period ended December 31, 2012. As such, the Company is currently not in compliance with the Listing Rule due to its $3,619,000 shortfall in stockholders’ equity noted. The Notice has no immediate effect on the listing of the Company’s common stock. In the Notice, NASDAQ requested the Company to provide its plan to regain compliance with the continued listing requirements before April 25, 2013. If NASDAQ accepts the plan, it can grant the Company an additional 180 days from the date of the Notice for the Company to evidence compliance with the Listing Rule.
eMagin Corp. (NYSE: EMAN) 13.7% LOWER; reported Q4 EPS of $0.04, $0.01 worse than the analyst estimate of $0.05. Revenue for the quarter came in at $8.5 million versus the consensus estimate of $9.09 million. Sees FY2013 revenue of $34 - $39 million, versus the consensus of $39.96 million.
Lakeland Industries, Inc. (Nasdaq: LAKE) 13.3% LOWER; disclosed several material developments Monday night, including a potential credit line default. For more color, click here.
Camelot Information Systems (NYSE: CIS) 13.3% HIGHER; received a preliminary non-binding proposal letter dated March 12, 2013 from its Chairman and Chief Executive Officer, Mr. Simon Yiming Ma, its President, Ms. Heidi Chou, and its Executive Vice President and the Chief Executive Officer of CFITS, a subsidiary of the Company, Mr. Yuhui Wang, to acquire all of the outstanding shares of the Company not currently owned by the Buyer Group and their respective affiliates and certain other management members of the Company who may choose to join the Buyer Group in a going private transaction for US$1.85 per American Depositary Share in cash, subject to certain conditions. According to the proposal letter, the acquisition is intended to be financed through a combination of debt and equity capital, and the Buyer Group has been in discussion with a financial institution which has expressed interest in financing the proposed acquisition. The Company's Board of Directors has formed a special committee of independent directors (the "Independent Committee") consisting of Mr. Jian Wang, Mr. David Dahu Wang, and Ms. Joanna Wang, to consider this proposal. Mr. Jian Wang will serve as chairman of the Independent Committee. The Independent Committee will retain a financial advisor and legal counsel to assist it in its work.
Sears Hometown and Outlet Stores, Inc. (Nasdaq: SHOS) 12.3% LOWER; reported Q4 EPS of $0.42, versus $0.34 reported last year. Revenue for the quarter came in at $631.16 million, versus $591.02 million reported last year. Comparable store sales decreased 0.5 percent
Tandy Leather Factory, Inc. (Nasdaq: TLF) 12.0% HIGHER; reported Q4 EPS of $0.22, versus $0.17 reported last year. Revenue for the quarter came in at $20.6 million versus the consensus estimate of $18.9 million. Sees FY2013 EPS of $0.69-$0.72, versus the consensus of $0.59 and also sees revenue of $78-$80 million.
Opexa Therapeutics, Inc. (OPXA) 12.0% HIGHER; higher on the session, potentially boosted by a positive blog post on some of Opeca's technicals.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
OCZ Technology Group, Inc. (Nasdaq: OCZ) 17.8% HIGHER; has entered into a $30 million loan and security agreement with Hercules Technology Growth Capital, Inc. (NASDAQ: HTGC). This loan agreement consists of a $15 million term loan and a $15 million revolving loan facility.
ClearSign Combustion Corporation (Nasdaq: CLIR) 15.9% HIGHER; announced that, following a successful presentation last year, CTO Joe Colannino has again been invited to present a technical paper "Progress and Recent Advances Using ECC" Technology" at the American Flame Research Committee's (AFRC) Industrial Combustion Symposium, "Safe and Responsible Development in the 21st Century," to be held in Kauai, Hawaii on September 22 - 25, 2013.
Prospect Global Resources, Inc. (Nasdaq: PGRX) 14.6% LOWER; terminated a $100 million financing agreement with Apollo Global Management (NYSE: APO). Upon execution of the Termination and Release Agreement (i) Prospect Global paid the Apollo Parties $750,000 in cash and issued two Promissory Notes totaling approximately $6.75 million (described in Item 2.03 below) as a break up and release payment and (ii) Prospect Global reimbursed the Apollo Parties for $2.16 million of expenses incurred by them in connection with the Apollo Financing. The agreement also contains mutual releases.
CombiMatrix Corporation (Nasdaq: CBMX) 14.1% LOWER; received written notice from the NASDAQ Stock Market on March 11, 2013, indicating that the Company is no longer in compliance with the minimum stockholders’ equity requirement for continued listing on the NASDAQ Capital Market. NASDAQ Capital Market Listing Rule 5550(b)(1) requires registrants to maintain a minimum of $2,500,000 in stockholders equity unless the registrant has met one of the alternative standards of market value of listed securities or net income from continuing operations. In the Company’s Form 8-K filed on February 27, 2013, the Company reported stockholders’ equity of negative $1,119,000 for the period ended December 31, 2012. As such, the Company is currently not in compliance with the Listing Rule due to its $3,619,000 shortfall in stockholders’ equity noted. The Notice has no immediate effect on the listing of the Company’s common stock. In the Notice, NASDAQ requested the Company to provide its plan to regain compliance with the continued listing requirements before April 25, 2013. If NASDAQ accepts the plan, it can grant the Company an additional 180 days from the date of the Notice for the Company to evidence compliance with the Listing Rule.
eMagin Corp. (NYSE: EMAN) 13.7% LOWER; reported Q4 EPS of $0.04, $0.01 worse than the analyst estimate of $0.05. Revenue for the quarter came in at $8.5 million versus the consensus estimate of $9.09 million. Sees FY2013 revenue of $34 - $39 million, versus the consensus of $39.96 million.
Lakeland Industries, Inc. (Nasdaq: LAKE) 13.3% LOWER; disclosed several material developments Monday night, including a potential credit line default. For more color, click here.
Camelot Information Systems (NYSE: CIS) 13.3% HIGHER; received a preliminary non-binding proposal letter dated March 12, 2013 from its Chairman and Chief Executive Officer, Mr. Simon Yiming Ma, its President, Ms. Heidi Chou, and its Executive Vice President and the Chief Executive Officer of CFITS, a subsidiary of the Company, Mr. Yuhui Wang, to acquire all of the outstanding shares of the Company not currently owned by the Buyer Group and their respective affiliates and certain other management members of the Company who may choose to join the Buyer Group in a going private transaction for US$1.85 per American Depositary Share in cash, subject to certain conditions. According to the proposal letter, the acquisition is intended to be financed through a combination of debt and equity capital, and the Buyer Group has been in discussion with a financial institution which has expressed interest in financing the proposed acquisition. The Company's Board of Directors has formed a special committee of independent directors (the "Independent Committee") consisting of Mr. Jian Wang, Mr. David Dahu Wang, and Ms. Joanna Wang, to consider this proposal. Mr. Jian Wang will serve as chairman of the Independent Committee. The Independent Committee will retain a financial advisor and legal counsel to assist it in its work.
Sears Hometown and Outlet Stores, Inc. (Nasdaq: SHOS) 12.3% LOWER; reported Q4 EPS of $0.42, versus $0.34 reported last year. Revenue for the quarter came in at $631.16 million, versus $591.02 million reported last year. Comparable store sales decreased 0.5 percent
Tandy Leather Factory, Inc. (Nasdaq: TLF) 12.0% HIGHER; reported Q4 EPS of $0.22, versus $0.17 reported last year. Revenue for the quarter came in at $20.6 million versus the consensus estimate of $18.9 million. Sees FY2013 EPS of $0.69-$0.72, versus the consensus of $0.59 and also sees revenue of $78-$80 million.
Opexa Therapeutics, Inc. (OPXA) 12.0% HIGHER; higher on the session, potentially boosted by a positive blog post on some of Opeca's technicals.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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