Optelecom-NKF Inc. (NasdaqCM: OPTC) leaped out of the blocks Thursday morning, gaining 50.57 percent to $2.38. Volume was 635,042 shares, in contrast with a three-month daily average of just over 5,600. The news comes amid word that Dutch company TKH Group N.V. has agreed to acquire all of the outstanding shares of Optelecom-NKF in an all cash merger transaction for $2.45 per share.
Cisco Systems Inc. (NasdaqGS: CSCO) proved the early volume leader Thursday, trading in 226,596,870 shares, nearly quadruple its daily average in just the session’s first hour. The stock’s price, however, trailed yesterday’s close by 14.94 percent to $20.84. The news follows the networking equipment giant’s second-quarter forecast. Late Wednesday, Cisco said it expects sales for the three months ending in January to rise just three to five percent from a year ago — well short of the 13-percent growth that analysts surveyed by FactSet Research had been anticipating for year-over-year revenue.
Aegean Marine Petroleum Network (NYSE: ANW) fell hard in early dealings Thursday, losing 34.75 percent in price to $10.40, a new 52-week low. Volume of 7,332,076 shares dwarfed the daily average of 520,606. The Greek company said Wednesday its net income slid to $4.6 million, or 10 cents per share, compared with $14.1 million, or 33 cents per share, in the year-ago period. Excluding items it earned 16 cents, less than half what analysts expected.