NVLT vaults, MMTE mammoth trader, ISIM isn’t great

Posted on Thursday, December 9th, 2010

Novelos Therapeutics Inc. (OTCBB: NVLT) galloped ahead 70.45 percent in midday trading Thursday to 3.75 cents on 13.5 million shares, compared to a full-day average of 363,282. The Newton, Mass.-based biopharmaceutical company announced that today a poster highlighting positive results in a Phase 2 trial of NOV-002 in combination with neoadjuvant chemotherapy treatment in patients with stage IIB-IIIC HER-2/neu negative invasive breast cancer is being presented at a symposium in Texas.

Mammoth Energy Group Inc. (Pink Sheets: MMTE) traded in 122.8 million shares Thursday, in contrast with a daily average of 20.49 million. Prices were flat at three-100ths of a cent. The New York-based lithium and alternative energy mining company, announced today that expected demand and sales growth for lithium ion batteries is expected to triple to $60 Billion in the next 10 years.

Insight Management Corp. (OTCBB: ISIM) trailed Wednesday’s close by 33.33 percent to eight-100ths of a cent Thursday. Volume was 33.82 million shares, or double its full-day average. The New York-based green construction company has completed the acquisition of Plant Acadia Growing, Inc., the parent company of Simpson Brothers Greenhouse, LLC, a retail greenhouse and wholesale farm supplier.


CYDE spikes, SIRI trades widely, CML loses grip

Posted on Thursday, December 9th, 2010

CyberDefender Corp. (NasdaqCM: CYDE) climbed 23.4 percent in price Thursday to $2.32. Volume was 705,781 shares, compared to a full day average of 64,517 shares. The L.A.-based provider of Internet security software, utilities and remote technical support services that work together to maximize online safety for consumers, today announced that it expects to file its amended financial reports and regain NASDAQ compliance before year’s end.

Sirius XM Radio Inc. (NasdaqGS: SIRI) traded in 108,238,179 shares, nearly doubling its full-day average. Share prices beamed up 4.56 percent to $1.375. Flagship broadcaster Howard Stern and SIRIUS XM Radio today announced a new five-year agreement. The news was first reported by Howard during his show this morning.

Compellent Technologies Inc. (NYSE: CML) plummeted in price 13.08 percent Thursday to $29.25, on volume of 4,856,183 shares, almost five times its full-day volume average. Dell and Compellent Technologies, Inc. today announced they are engaged in advanced discussions regarding a possible business combination involving the two companies.


LEDS enjoys hearty IPO, BAC sells widely, OXM slides

Posted on Thursday, December 9th, 2010

SemiLEDS Corp. (NasdaqGS: LEDS) climbed 47.88 percent in price Thursday to $25.14. Volume was 3,659,012 shares, upon its IPO Thursday. The Hawaii-based developer and manufacturer of LED chips and LED components, announced today the pricing of its initial public offering of 5,250,000 shares of its common stock, at $17.00 per share.

Bank of America Corp. (NYSE: BAC) traded in 126,328,133 shares, making it a leader in volume, against its full-day average of 204,999,000. Shares progressed 2.58 percent to $12.31. Financial executives at U.S. companies expressed more optimism that their businesses will hire employees and see revenue growth in 2011, according to a recent Bank of America Merrill Lynch survey. Of the 801 executives surveyed in the bank’s annual CFO Outlook, 47 percent said they expect their companies to hire additional employees next year, up from 28 percent who forecast hiring last year.

Oxford Industries Inc. (NYSE: OXM) dipped in price 16.11 percent Thursday to $23.23, on volume of 402,535 shares, very nearly four times its full-day volume average. Atlanta-based Oxford Industries, Inc. Wednesday announced third quarter diluted net earnings per share were $0.33 compared to $0.26 in the third quarter of fiscal 2009.


SGOG shines, INBG busy, MJWL slides

Posted on Thursday, December 9th, 2010

Sterling Oil & Gas Co (OTCBB: SGOG) went skyward in early Thursday trading, gaining 290.24 percent to 1.6 cents. Volume in this stock was 20,000 in the early going, compared to its full-day average of 24,749.

International Building Technologies Group Inc. (OTCBB: INBG) saw its shares fly off the shelves Thursday, trading in 52.77 million of them. Its price was flat, however, at three-100ths of a cent. INBG Tuesday announced that, pursuant to the signed Letter of Intent to buy FHH Sino New Energies Co., Ltd..

Majic Wheels Corp. (OTCBB: MJWL) spun its wheels soon after Thursday’s opening, losing 62.96 percent in price to one-10th of a cent. Volume was 45,000 shares, in contrast with 165,031, its daily average. MajicWheels purports to bring innovation to the industry of radio-controlled toy cars through its groundbreaking, patented climbing device technology.


FRC scores big in IPO, C sells briskly, SDTH staggers

Posted on Thursday, December 9th, 2010

First Republic Bank (NYSE: FRC) was among the price champions early Thursday, strengthening 95.99 percent in price to $27.34. Volume was 4,503,158 shares, upon its IPO Thursday. First Republic Bank had $22 billion in total assets as of June 30 and its wealth management assets totaled $17.2 billion.

Citigroup Inc, (NYSE: C) traded in 275,979,360 shares, making it a leader in volume, making loads of headway against its daily average of 517,995,000. Shares hiked 0.97 percent to $4.68. Citi today announced that it has hired Benjamin Poor as Manager of Market Intelligence for the Securities and Fund Services (SFS) unit within Global Transaction Services.

Shengdah Tech, Inc. (NasdaqGS: SDTH) tumbled in price 16.01 percent Thursday to wind up at $5.14, on volume of 570,864 shares, better than triple its full-day volume average. The leading manufacturer of nano-precipitated calcium carbonate in China, today announced that it intends, subject to market and other conditions, to offer an aggregate of $90.0 million of senior convertible notes due 2015 in a private offering.