Posts Tagged ‘motr’

XETA skyward, BAC busy, MOTR motors in reverse

Wednesday, February 9th, 2011

Xeta Technologies Inc. (Nasdaq: XETA) shares galloped 40.9% to $5.41. Volume for the stock was 484,833 shares, compared to an all-day average of 14,000, after the announcement that Paetec Corporation was to purchase XETA for $61 million.

Bank of America Corp. (NYSE: BAC) traded in 33.8 million shares Wednesday, pursuing its average of 192.4 million. Prices faded 0.3% to $14.56

Motricity Inc. (Nasdaq: MOTR) shares were off 23.3% to $16.90 Wednesday. Volume was 7.8 million shares, waltzing over a full-day average of 1.3 million, after the provider of wireless-data services projected first-quarter sales beneath analysts’ estimates late Tuesday.

CYPB spreads wings, C solid, MOTR in reverse

Wednesday, December 15th, 2010

Cypress Bioscience (NasdaqGM: CYPB) jumped 12.2% to$6.45, on volume of 8,570,704, or 16 times its full-day average, after it agreed to be acquired by Ramius LLC and Royalty Pharma for about $255 million in cash, ending a takeover battle that began in July.

Citigroup (NYSE: C) traded in 155,455,525 shares, making good headway on its daily average of 539,270,000 shares. Share prices retreated 0.53 per cent, however, Wednesday, to $4.66.

Motricity Inc. (NasdaqGM: MOTR) backtracked 13.53 percent in Wednesday morning trading at $18.40. Volume of 3,277,545 shares tramped its full-day average of 559,200. MOTR, based in Bellevue, Wash., is a leading mobile data solutions provider exclusively focused on the rapidly growing mobile Internet market.

Motricity, Inc. (MOTR) – Buzz Stock of the Day

Wednesday, October 13th, 2010

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Shares of mobile data services provider, Motricity, Inc. (Nasdaq: MOTR) soared as much as 22 percent from Tuesday’s closing price, in morning trading on Wednesday. This marks the second day Motricity shares rose,  after the company announced through a regulatory filing, that it signed an agreement to roll out its mCore service with Indian wireless carrier Reliance Communications Ltd.

Motricity was up as much as 40 percent from Monday’s closing price, on Tuesday.
[–quote–]
Motricity said the service, which lets wireless carriers get their users onto the Internet via mobile devices such as cell phones, will be used for Reliance’s mobile data services business.

At the time Motricity filed its IPO in January, the company had already generated more than $100 million in revenue in 2008. And although it was not yet profitable, was expecting to raise as much as $250 million from investors in its IPO. Ultimately, Motricity ended up settling on a much lower $50 million to close the deal.

Motricity trimmed its 2009 net loss to $16 million, down from $78 million in 2008. Revenue for 2009 clocked in at $113 million.

Although the company did not disclose financial terms of the Reliance deal, Baird analyst William V. Power called the deal “significant.”

“While the overall revenue opportunity is lower in India vs. developed markets, we expect that to change as data penetration improves,” he wrote in a note to investors.

Using Vodafone India as a proxy, Power estimated that the deal could add $15.2 million to $30.8 million to Motricity’s annual revenue.