Archive for December, 2010

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BASI soars, MI probed, BBX stumbles

Monday, December 20th, 2010

Bioanalytical Systems Inc. (Nasdaq: BASI) celebrated a hike of 23.97 percent in price Monday to $3.31. Volume of 193,397 shares overwhelmed its full-day average of 8,971. Indiana-based BASi is a pharmaceutical development services company providing contract research services and instruments and supplies to the world’s leading drug development companies and medical research organizations.

Marshall & Ilsley Corp. (NYSE: MI) traded in 33,286,748 shares Monday, more than doubling its daily average of 14,042,100. Share prices for MI skidded 3.65 percent, however, to $6.61. MI’s board of directors is under investigation concerning possible breaches of fiduciary duty and other violations of law related to the Company’s efforts to sell Marshall & Ilsley to BMO Financial Group in a transaction with a value of approximately $4.1 billion.

BankAtlantic Bancorp, Inc. (NYSE: BBX) found itself downward in price, 10.76 percent Monday to $1.41, on volume of 2,579,650 shares, or more than five times its full-day average. BBX is one of the largest financial institutions headquartered in Florida.

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WSP goes skyward , BAC active, MGIC heads south

Monday, December 20th, 2010

WSP Holdings Limited (NYSE: WH) moved higher 33.65 percent in price Monday to $1.39. Volume of 2,025,559 shares proved about 20 times its full-day average, as the Chinese drilling pipe manufacturer said its subsidiary received about $91.8 million in new orders.

Bank of America Corp. (NYSE: BAC) was a volume leader Monday, trading in 61,883,919 shares, making progress against its daily average of 214,418,000. Share prices for BAC inched 0.84 percent up to $12.68. AEGON USA Realty Advisors, LLC and Bank of America Merrill Lynch today announced that they have entered into a formal agreement in which BofA Merrill Lynch will utilize AEGON’s commercial real estate lending expertise and significant industry relationships to source new lending opportunities.

Magic Software Enterprises Ltd. (Nasdaq: MGIC) took a header in price, 11.80 percent Monday to $6.74, on volume of 1,908,951 shares, or more than triple its full-day average. The Israeli global provider of cloud and on-premise enabled application platform and business integration solutions today announced that it entered into definitive agreements, to sell securities to institutional investors in a private placement for aggregate gross proceeds of approximately $21.2 million.

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CEYY flies, UNDT busy, ECOC sheds

Monday, December 20th, 2010

Fresh Start Private Management Inc. (OTCBB: CEYY) leaped 221.43 percent Monday to 18 cents. Share volume was a whopping 1.46 million shares, more than 11 times its full-day average of 122,125. The Calif.-based CEYY is a leader in the alcohol treatment and rehabilitation industry.

Universal Detection Technology (OTCBB: UNDT) saw its shares fly off the shelves in early Monday afternoon trading, doing volume of 255.07 million shares, trampling its normal volume of just under 16 million. Prices for the stock rocketed up 66.67 percent to five-100ths of a cent. UNDT, based in Los Angeles and a developer of early-warning monitoring technologies to protect people from bioterrorism and other infectious health threats and provider of counter-terrorism consulting and training services, announced today that it has entered into a distribution agreement with Brazil-based ORMAX Tecnologia em Seguranca.

Ecology Coatings Inc. (OTCBB: ECOC) slumped in early afternoon trade Monday, dumping 57.14 percent in price to 1.5 cents. Volume for the stock was 54,830 shares, compared to a daily average of 16,324. The Michigan-based ECOC is a leader in the discovery and development of nanotechnology-enabled, ultraviolet-curable advanced coatings.

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ICGN moves upward, C busy, ULTR slips

Monday, December 20th, 2010

Icagen Inc. (Nasdaq: ICGN) vaulted 33.79 percent in price Monday to $1.94. Volume of 1,107,887 shares quadrupled its full-day average. The North Carolina-based drug company today provided an update on its sodium channel program for pain and related disorders, which is being conducted in collaboration with Pfizer.

Citigroup (NYSE: C) was a volume leader Monday, trading in 207,906,616 shares, making progress against its daily average of 556,140,000. Share prices for Citi eased 0.11 percent to $4.70. Citi today announced a multi-year renewal of its long-standing U.S. private label credit card partnership with The Children’s Place Retail Stores Inc., the largest pure-play children’s specialty apparel retailer in North America.

Ultrapetrol Ltd. (Nasdaq: ULTR) fell 13.95 percent Thursday to $6.45, on volume of 336,901 shares, five times its full-day average. Ultrapetrol announced today its intention to offer to sell, subject to market and other conditions, $60.0 million aggregate principal amount of its Convertible Senior Notes due 2017.

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ETM beaming, UNG strong volume, YOKU stumbles

Thursday, December 16th, 2010

Entercom Communications Corp. (NYSE: ETM) vaulted 10.16 percent in price Thursday to close at $10.30. Volume of 203,323 shares outdid its daily average of 158,803 shares. Entercom Communications Corp. is one of the five largest radio broadcasting companies in the United States, with a nationwide portfolio in excess of 100 stations in 23 markets.

United States Natural Gas Fund (NYSEArca: UNG) was a volume leader Thursday, trading in 48,552,547 shares, doubling its daily average of 24,676,700. Share prices for UNG eased 4.85 percent to $5.54.

Youku.com Inc. (NYSE: YOKU) fell 9.31 percent Thursday to close at $30.20, on volume of 5,865,290 shares, just better than half its daily average. YOKU is a leading Chinese Internet television company.

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