Borders Group, Inc. (BGP) shares rise on rumors of possible financing

Posted on Friday, January 14th, 2011

Shares of Borders Group, Inc. (NYSE: BGP) were up more than 30 percent on Friday after it was reported that the troubled bookstore chain told publishers that it was close to securing refinancing that was intended to reduce costs, improve liquidity and expand marketing efforts.

Borders also asked publishers to provide money for a large portion of the company’s debt as a loan, according to people briefed on the matter, the New York Times reported.

Last week, sources told Reuters that the bookseller has hired FTI Consulting Inc to assist in analyzing its finances and is in talks with GE Capital about new debt that could replace its existing credit line.

It was also reported earlier this month that  Borders said it was delaying payments to some of its vendors. According to the company’s latest financial statements, its biggest liability is its unpaid bills to suppliers, a figure which may have ballooned following the holiday selling season.

Shares of BPG closed at $1.06, up 29 percent from Thursday’s closing price. Shares are down 18 percent over teh past three months.

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Cumberland Pharmaceuticals, Inc. (CPIX) rises after receiving FDA approval for liver drug

Posted on Friday, January 14th, 2011

Shares of drug maker, Cumberland Pharmaceuticals, Inc. (Nasdaq: CPIX) surged as much as 32 percent from Thursday’s closing price in morning trading on Friday after the company announced that it received approval from the U.S. Food and Drug Administration for a new formulation of its liver drug.

The drug, Acetadote, which has been available in the United States since Cumberland’s 2004 introduction of the product, is currently used in hospital emergency departments to prevent or lessen potential liver damage resulting from an overdose of acetaminophen, a common ingredient in many over-the-counter pain relief and fever-reducing products.

Cumberland is immediately commencing U.S. launch activities for the next generation of Acetadote, and will discontinue to manufacture the previously approved formulation.

The approval could not have come at a more opportune time. Cumberland’s announcement dropped on the same day the FDA said it will cap the amount of acetaminophen in various drugs at 325 milligrams per capsule because of the potential for toxic overdoses when taken in combinations.

“We look forward to introducing this next generation product to the hospital community and the growing number of patients who will benefit from it,” Cumberland Pharmaceuticals’ CEO A.J. Kazimi said in a statement.

In March the company had filed a supplementary new drug application for an indication of Acetadote to treat liver failure caused by factors such as hepatitis B and autoimmune hepatitis.

The FDA rejected the application for the new indication, stating that it did not offer sufficient evidence of efficacy in increasing survival in all patients with acute liver failure.

Shares of CPIX are up about 3 percent over the past three months.

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Plug Power, Inc. (PLUG) shares soar 30 percent on Coca-Cola deal

Posted on Thursday, January 13th, 2011

Shares of power solutions provider, Plug Power, Inc. (Nasdaq: PLUG) surged 30 percent on Thursday after it was announced that Coca-Cola Refreshments USA (NYSE: CO) purchased 37 of Plug Power’s GenDrive fuel cells to power a new fleet of Caterpillar lift trucks at its 250,000 sq. ft. bottling and distribution center in San Leandro, CA.

“This is the second site in the Coca-Cola system to convert an existing lift truck fleet to GenDrive fuel cells,” said Andy Marsh, CEO at Plug Power in a statement. “It’s evidenced through these repeat customers the real value of the GenDrive solution. Hydrogen fuel cells are competing with the incumbent power sources and winning because they provide the most benefit for the organization. It’s a simple business decision.”

Plug Power’s GenDrive™ fuel cell is a superior alternative to lead-acid batteries for electric lift trucks.

Previously using lead-acid batteries as a power solution, Coca-Cola is making the transition to GenDrive to take advantage of the increased productivity and improved space utilization offered by the technology.

“Using Plug Power Fuel Cells for our fleet in the San Leandro facility is an example of this commitment,” said Brian P. Kelly, Product Supply Leader, Coca-Cola Refreshments, in a statement. “This innovative use of technology will help us reduce our carbon emissions, streamline our operations and work towards our aggressive environmental goals.”

Plug Power closed deals equating to over 400 GenDrive units in the fourth quarter alone. Some first-time customers include Coca-Cola and CVS.  Plug Power also received follow-on orders from repeat customers like BMW and Walmart Canada. Concluding the successful quarter, Plug Power received letters of commitment from customers for another 250-plus GenDrive power units.

Plug Power manufactured and shipped a record number of units for the full year ending December 31, 2010, meeting its milestone of at least 650 unit shipments for the year. The Company’s Latham, NY manufacturing facility is capable of producing over 10,000 units each year.

“I’m pleased with the continued commercial adoption of our GenDrive solution by new customers and the follow-on orders by existing customers,” Marsh said in a statement.

Shares of PLUG are up approximately 35 percent over the past three months, and recently traded for 61 cents per share.

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Onstream Media Corp. (ONSM) – Buzz Stock of the Day

Posted on Thursday, January 13th, 2011

Shares of online service provider, Onstream Media Corp. (Nasdaq: ONSM) soared as much as 63 percent from Wednesday’s closing price in morning trading on Thursday. Shares traded as high as $1.36, up from Wednesday’s closing price of $0.83 per share.

For the 12 months ended September 30, 2010, Onstream reported a net loss of $9.3 million, or $1.20 per share, down 21 percent from a net loss of $11.8 million, or $1.63 a share in fiscal 2009. Revenue for the year fell 1.4 percent to $16.7 million compared to last year. Revenue from Onstream Media’s Digital Media Services Group, which includes Webcasting and hosting services increased 1.6 percent to $7.9 million, compared to FY 2009.

“Despite historically lower fourth quarter revenues due to seasonality and overall challenging economic conditions, Onstream posted revenue increases in its fourth quarter, as compared to the comparable prior year period,” said Onstream Media’s President and CEO, Randy Selman in a statement. “We also achieved a new milestone — for the first time in our history, we posted two consecutive quarters of positive cash flow from operating activities, before working capital changes.”

Onstream’s fourth quarter revenue increased 8.9 percent to $4.1 million, from $3.7 million in FY 2009. Cash flow from operating activities (before changes in current assets and liabilities) was approximately $44,000 in Q4, and $188,000 in Q3.

Onstream Media Corp. provides live and on-demand Internet broadcasting, corporate web communications and virtual marketplace technology to customers including Dell, Disney, Georgetown University, National Press Club, PR Newswire, Shareholder.com (NASDAQ), Sony Pictures and the U.S. Government.

Shares of ONSM are up about 14 percent over the past three months.

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TTMI leads, SIRI gets message out, SBAY sags

Posted on Thursday, January 13th, 2011

TTM Technologies Inc. (Nasdaq: TTMI) picked up 21.3 percent to $17.74. Volume was 3,259,558, or six times its full-day volume average. Both sales and earnings are projected to beat the original guidance and Street estimates when TTM files a proper report in mid-February.

Sirius XM Radio Inc. (Nasdaq: SIRI) dealt in 42,276,233 shares Thursday, making it a volume leader, but still below its daily average of 56,223,200. Prices for SIRI fell 1.9 percent to $1.53. SIRI is a satellite radio company, broadcasting more than 135 channels of commercial-free music, and premier sports, news, talk, entertainment, traffic, weather, and data services to more than 20 million subscribers in cars, trucks, boats and aircraft, and through a wide range of mobile devices.

Subaye Inc. (Nasdaq: SBAY) fell 11.1 percent in price Thursday to $13.00.Volume for the stock was 290,587 shares. SBAY is a leading online business services provider in China engaged in enterprise cloud computing, video marketing and business to consumer (B2C) online solutions.

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