Posts Tagged ‘ICGN’

Icagen Inc. (ICGN) takes flight on hint of Pfizer takeover

Monday, June 27th, 2011

Icagen Inc. (Nasdaq: ICGN) shares rocketed 113.8% to $5.13 after drug manufacturer Pfizer Inc. (NYSE: PFE) said in a regulatory filing late Friday that it was looking at a possible strategic alliance with the biopharmaceutical company. Volume for Icagen totaled 1.8 million shares in the early trading hours of Monday, compared to an all-day average of 71,000.

A news release was issued soon after the market closed on Friday, June 24. In the release, Icagen put out a statement in which it acknowledged that it is currently engaged in preliminary discussions with Pfizer regarding a potential strategic transaction, but, quote “no definitive agreement has been reached.

“There can be no assurance that any agreement will be reached,” the statement continued, “or that a transaction will be consummated. Icagen does not plan to make future announcements with respect to this matter unless and until its Board of Directors has approved a specific transaction or an extension or other modification of the existing collaboration agreement and it has entered into a definitive agreement or the current discussions have terminated.”

Icagen, Inc. is a biopharmaceutical company based in Research Triangle Park, North Carolina, focused on the discovery, development and commercialization of novel orally-administered small molecule drugs that modulate ion channel targets. Utilizing its proprietary know-how and integrated scientific and drug development capabilities, Icagen has identified multiple drug candidates that modulate ion channels.

CELL rings, INTC trades widely, ICGN takes breather

Thursday, February 3rd, 2011

Brightpoint Inc. (Nasdaq: CELL) shares moved north 32 percent Thursday to $12.57, on volumes of nearly three million, six times its full-day average, a day after presenting Q4 earnings that beat Street estimates.

Intel Inc. (Nasdaq: INTC) traded in 27.3 million shares Thursday, trailing its all-day average of 55.5 million. Shares for the chipmaker nosed ahead 0.6 percent to $21.50.

Icagen Inc. (Nasdaq: ICGN) got thumped 12.6 percent in price to $3.25 Thursday. Volume was 809,218, besting its daily average of 563,036, after the FDA lifted its hold on ICGN’s epilepsy drug.

BSET comfortable, INTC trades, ICGN slumps

Thursday, January 27th, 2011

Bassett Furniture Industries, Inc. (Nasdaq: BSET) climbed 28.6 percent to $5.85. Volume was 151,374 or seven times its normal daily volume, on quarterly sales of $66.0 million as compared to $59.5 million the year before, an increase of 10.9%. The Company reported net income of $1.9 million, or $0.17 per share, as compared to net income of $2.6 million, or $0.22 per share in the prior-year quarter.

Intel Corporation (Nasdaq: INTC) traded in 28.1 million shares Thursday, building toward a daily average of 55.1 million. Share prices eked up 0.4 percent to $21.83.

Icagen Inc. (Nasdaq: ICGN) shares chucked 8 percent to $2.89 Thursday, on volume of 315,271 shares, trailing its daily average of 489,397.

ICGN up, MU down, XRS schooled

Wednesday, January 26th, 2011

Icagen Inc. (Nasdaq: ICGN) shares jumped 16.8 percent to $3.06 Wednesday, on volume of 1.1 million shares, better than double its daily average. Last week, the company was upgraded MLV Capital from “hold” to “upgrade”.

Micron Technology Inc. (Nasdaq: MU) bought and sold 26.7 million shares, just shy of its daily average of 33.9 million. Share prices inched up 0.4 percent to $10.01, on word of a downgrade from “neutral” to “negative” Tuesday by Avian.

TAL Education Group (NYSE: XRS) shares lost 6.7 percent to $12.17 Wednesday, on volume of 1.0 million shares, more than five times its daily average. The after-school tutoring services company reported a 47.7-percent increase in revenue, to $24.1 million in the quarter, as total student enrollment grew 25 percent .

ZBB zips along, PFE has healthy volume, ICGN downward

Thursday, January 20th, 2011

ZBB Energy Corporation (AMEX: ZBB) gained 14.8 percent Thursday to $1.24, on volume of 1,384,173 shares, more than four times its full-day average, after signing lucrative contracts in China.

Pfizer Inc. (NYSE: PFE) dealt in 43,708,033 shares, to within a few aces of its full-day average of 45,414,700. Share prices were flat at $18.27

Icagen Inc. (Nasdaq: ICGN) dipped 17 percent to $2.44. Volume was 1,761,812 shares, four times its daily average.