LinkedIn Corp. (LNKD) rings the bell, gains more than 30 percent

Posted on Thursday, May 19th, 2011

LinkedIn Corp. (NYSE: LNKD) shares more zoomed 34.6% to $101.93 as the professional-networking site made its market debut. Shares of the new issue totaled nearly 26.5 million.

LinkedIn Corporation, the world’s largest professional network with more than 100 million members worldwide, opened for trading on the New York Stock Exchange (NYSE) under the ticker symbol “LNKD” after its initial public offering in which it raised $352.8 million in gross proceeds. LinkedIn CEO Jeff Weiner, joined by members of the company’s management team, celebrated the company’s first day of trading on the NYSE by ringing The Opening Bell.

“Becoming a publicly traded company on the NYSE is another significant step toward LinkedIn’s goal of connecting the world’s professionals to make them more productive and successful.” Weiner noted afterwards.

LinkedIn is the world’s largest professional network on the Internet, whose member base currently includes executives from every Fortune 500 company. The company has a diversified business model with revenues coming from member subscriptions, advertising sales and hiring solutions. LinkedIn was founded in 2003 and is headquartered in Mountain View, California.

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PURE Bioscience Inc. (PURE) leaps on encouraging tests

Posted on Thursday, May 19th, 2011

PURE Bioscience Inc. (Nasdaq: PURE) jumped out of the starting blocks Thursday, gaining 27.2% in price to $1.31, on word of encouraging results for one of its products. Volume for the stock was 3.5 million shares, or about 20 times its all-day average.

The creator of the patented silver dihydrogen citrate (SDC) antimicrobial announced preliminary in vitro laboratory results demonstrating SDC’s effectiveness against biofilm in tests conducted by the University of Medicine & Dentistry of New Jersey.

A professor at the school reported, “We have used SDC against single species biofilms of Aggregatibacter actinomycetemcomitans, a causative agent in localized aggressive periodontitis, and S. epidermidis, a pathogen associated with hospital settings. Our results show that these bacteria in the biofilm state are killed within minutes at 30 ppm of SDC. Not only did SDC kill biofilm bacteria, but also it inhibited the biofilm formation at levels as low as 1.5 ppm in a citrate-containing medium.”

Michael L. Krall, President and CEO of PURE Bioscience, commented, “SDC’s ability to eliminate and even prevent biofilm presents a phenomenal market opportunity for PURE. We’re directing ongoing research projects on biofilm not only in public health, but also in industrial environments, including food processing, and oil and gas, as we begin to present SDC as a viable solution to this costly and dangerous problem.”

SDC is a new molecular entity, developed and patented worldwide by PURE Bioscience, a company based in El Cajon, California, which develops and markets technology-based bioscience products that provide solutions to numerous global health challenges.

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Eastman Kodak (EK) surges after bigwigs boost share holdings

Posted on Wednesday, May 18th, 2011

Eastman Kodak Co. (NYSE: EK) shares rose 17% to $3.65 after a regulatory filings available late Tuesday showed the photography icon’s CEO and chief financial officer purchased 36,532 shares on May 13.

Kodak’s Chief Executive Officer Antonio Perez told employees that recent Kodak stock purchases reflect management’s faith in the photography pioneer’s future.

Some analysts suspect, however, that the stock price surge reflects Kodak’s recent preliminary triumphs over smartphone giant Apple Inc. (Nasdaq: AAPL) in their patent-litigation battle before the U.S. International Trade Commission, a federal agency that oversees trade disputes.

Regulatory filings late Tuesday revealed that Perez and Richard Braddock, the presiding director of Kodak’s board, each purchased shares valued at around $200,000. Chief Financial Officer Antoinette McCorvey bought shares worth about $36,000.

Perez told employees on an internal website that the purchases “reflect our confidence in the company’s future and our belief in the potential of the Kodak transformation” into a digital photography and printing powerhouse.

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Silver Bull Resources Inc. (SVBL) leaps on outside investment

Posted on Wednesday, May 18th, 2011

Silver Bull Resources Inc. (Amex: SVBL) shares rocketed higher 10.3% to 75 cents after announcing that Coeur d’Alene Mines Corporation (NYSE: CDE) has executed a term sheet to make a $5-million U.S. investment in Silver Bull. Volume for Silver Bull was 172,100 shares, compared to an all-day average 675,232.

Coeur d’Alene intends to purchase 7,352,941 shares of Silver Bull common stock at $0.68 per share in a private placement transaction. Closing of the transaction is subject to the execution of a definitive agreement, and approval of the NYSE Amex Stock Exchange and the Toronto Stock Exchange.

Silver Bull Tim Barry said, “We are extremely pleased to have a company with the reputation and stature of Coeur d’Alene invest in Silver Bull and this financing will allow us to complete our planned 2011 exploration program at Sierra Mojada.

“We feel this investment is a solid endorsement of the work we have completed to date, and of the potential at the Sierra Mojada project.”

Based in Vancouver, British Columbia, Silver Bull is focused on the acquisition, exploration and potential development of mineral properties. Silver Bull currently owns mineral concessions in the municipality of Sierra Mojada, Coahuila, Mexico and holds exploration licenses in Gabon, Africa.

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Orthovita Inc. (VITA) takes flight on sale to Stryker Corp. (SYK)

Posted on Monday, May 16th, 2011

Orthovita Inc. (Nasdaq: VITA) shares rose 40.1% to $3.83 after Stryker Corp. (Nasdaq: SYK) said it would acquire the rival surgical-products maker for $316 million, or $3.85 a share. Volume for Orthovita topped 36.6 million shares, towering over an all-day average of just under 400,000.

In July 2007, Essex Woodlands Health Ventures Fund VII, LP,managed a multi-faceted deal, which was spearheaded by Partner Scott Barry. Essex Woodlands proactively contacted the company about a transaction that would address a number of issues hindering the company’s growth and development. Essex Woodlands led an equity financing of $32.5 million to remove the company’s capital overhang and became the largest shareholder of the company at the time.

The purchase price for the Malvern, Pennsylvania-based Orthovita was $3.85/share in cash in a transaction that results in the largest single upfront payment for an orthobiologics company. The purchase price represents a 58% and 67% premium to the 30-day and 60-day volume weighted average prices, for a total value transaction value of approximately $318 million.

Orthovita CEO Antony Koblish commented, “With the innovative financing initiatives which assisted our restructuring and recapitalization efforts exhibited by Essex Woodlands in general… we aggressively and successfully pursued this transaction.”

The acquisition of Orthovita, Inc. marks the third announced exit for Essex Woodlands within the past 30 days.

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