November 2010 Archives

Advanced Battery Technologies Inc. (Nasdaq: ABAT) announced a registered direct offering of 7.5 million common shares to raise approximately $30 million sending the stock price down 49 cents to close at $3.79.

iGate (Nasdaq: IGTE) must raise $700 million in order to finance its joint bid with Apax Partners to acquire Patni Computers Systems Ltd. (NYSE: PTI). Shares of iGate plummeted $4.83 to close at $20.00 while Patni Computers stock edged up 6 cents to close at $20.62.

Scientific Games Corp. (Nasdaq: SGMS) announced that its chairman and former chief executive Lorne Weil will return to the position of chief executive sending the stock price soaring $1.33 to close at $8.05. 

Mecox Lane Ltd. (Nasdaq: MCOX) reported higher third quarter earnings as revenue climbed but sales at its company run stores dropped sending the stock price tumbling $4.80 to $8.58.

Icagen Inc. (Nasdaq: ICGN) received a $1 million milestone payment from Pfizer (NYSE: PFE) after the two companies selected a compound to proceed with further clinical trials of its pain and related disorder sodium channel program. Shares of Icagen more than doubled by surging $1.28 to $2.50 while Pfizer stock eased 14 cents to $16.42.

Swiss industrial automation company ABB offered approximately $3.1 billion to acquire Baldor Electric Co. (NYSE: BEZ) sending the stock price soaring $18.15 to $63.26. 

Shares of The Governor and Company of The Bank of Ireland (NYSE: IRE) surged 39 cents to close at $1.83 after the European Union and the International Monetary Fund announced an 85 billion euro bailout package for Ireland.

Stillwater Mining Co. (NYSE: SWC) announced a secondary offering of 37 million common shares. The stock price fell 96 cents to close at $19.05.

AMAG Pharmaceuticals Inc. (Nasdaq: AMAG) reached an agreement with the Food and Drug Administration to update the product label for its chronic kidney disease treatment Feraheme to include a warning about life threatening side effects. The stock price climbed $1.86 to close at $15.91.

Wunderlich downgraded A123 Systems Inc. (Nasdaq: AONE) sending the stock price down 64 cents to $8.07. 

Mellanox Technologies Ltd. (Nasdaq: MLNX) will pay approximately $218 million in cash to acquire Voltaire Ltd. (Nasdaq: VOLT). Shares of Mellanox dropped $1.18 to $24.03 while Voltaire stock surged $2.23 to $8.66.

Amarin Corp. (Nasdaq: AMRN) reported positive results from a Phase III clinical trial of its very high triglyceride treatment AMR101 sending the stock price soaring $1.93 to $5.48. 

Standard & Poor's downgraded Allied Irish Banks (NYSE: AIB) and The Governor and Company of The Bank of Ireland (NYSE: IRE). Shares of Allied Irish lost 6 cents to close at $0.95 while Bank of Ireland stock fell 13 cents to close at $1.45.

Del Monte Foods Co. (NYSE: DLM) agreed to be acquired for approximately $4 billion in cash by private equity firms Kohlberg Kravis Roberts & Co., Vestar Capital Partners and Centerview Partners. The stock price rose 84 cents to close at $18.83.

Rising tensions on the Korean peninsula lifted shares Uranium Resources Inc. (Nasdaq: URRE) 34 cents to close at $3.18.

A drop in jobless claims lifted shares of online employment solutions firm Monster Worldwide Inc. (NYSE: MWW) $1.96 to close at $22.36. 

The busiest travel day of the year progressed smoothly with few delays to lift shares of American Airlines parent AMR Corp. (NYSE: AMR) $0.65 to close at $8.70.

China Digital TV Holding Co. Ltd. (NYSE: STV) on Monday declared a special cash dividend of $2.00 per share payable in two installments in 2011 to shareholders of record December 23, 2010 lifting the stock price $1.29 to close at $9.00. 

The Financial Times reported that Ireland increase its 36% stake in The Governor and Company of The Bank of Ireland (NYSE: IRE) to a majority holding. Shares of the troubled bank tumbled 15 cents to $1.55.

Morgan Keegan analyst Harsh Kumar lifted his price target on Cree Inc. (Nasdaq: CREE) to $75 from $48 and added the company to Morgan Keegan's focus buy list sending the stock price soaring $5.40 to $63.90.

Guess Inc. (NYSE: GES) reported higher fourth quarter income that beat analyst expectations of 75 cents per share compared with 69 cents per share in the year ago period as revenue rose. Shares of the apparel and accessories retailer soared $3.79 to $49.13.

Standard Pacific Corp. (NYSE: SPF) commenced a tender offer for all senior subordinated notes due in 2012, 2014 and 2015. The stock price lost $0.38 to close at $3.46.

Cninsure Inc. (Nasdaq: CISG) reported higher third quarter earnings as revenue climbed but short sellers weighed the stock down $2.91 to close at $19.00.

Harbin Electric Inc. (Nasdaq: HRBN) received an amended and restated proposal from chairman and chief executive Tianfu Yang to take the company private sending the stock price tumbling $2.67 to close at $15.23.

Brocade Communications Systems Inc. (Nasdaq: BRCD) reported lower fourth quarter earnings of 5 cents per share compared with 7 cents per share last year and forecast first quarter results below analyst expectations. The stock price lost $0.49 to $5.21.

Astrotech Corp. (Nasdaq: ASTC) won a $35 million contract to provide facilities and payload processing services for NASA at its Vandenberg Air Force Base. The stock price leaped $0.60 to $1.61.

Private equity firms TPG Capital and Leonard Green & Partners will acquire J. Crew Group Inc. (NYSE: JCG) in a deal valued at approximately $3 billion sending shares of the specialty retailer soaring $6.18 to $43.83.

Regeneron Pharmaceuticals Inc. (Nasdaq: REGN) reported upbeat results for its injectable macular degeneration treatment VEGF Trap-Eye solution. Shares of the biopharmaceutical leaped $4.86 to close at $29.53.

Apricus Biosciences Inc. (Nasdaq: APRI) and the Food and Drug Administration agreed on the design of a clinical trial for the advanced, inoperable liver cancer treatment PrevOnco sending the stock price soaring $0.65 to close at $3.35. 

Tyson Foods Inc. (NYSE: TSN) reversed year ago losses of $1.23 per share to post a better than expected profit for the fourth quarter of 57 cents per share. The stock price gained $0.96 to close at $16.60.

Shares of Allied Irish Banks (NYSE: AIB) lost 10 cents to $1.13 and The Governor and Company of The Bank of Ireland (NYSE: IRE) fell 47 cents to $2.20 on concerns that the European Union bailout will dilute shareholders.

Jefferies & Co. upgraded Cirrus Logic Inc. (Nasdaq: CRUS) to a Buy rating lifting shares of the chip maker $1.66 to $15.48.

Green Mountain Coffee Roasters Inc. (Nasdaq: GMCR) must restate earnings for the past three fiscal years along with the first three quarters of the current fiscal year after discovering accounting errors. The coffee company clarified that there was no misconduct related to the errors sending the stock price soaring $4.74 to $35.00.

AnnTaylor Stores Corp. (NYSE: ANN) reported sharply higher third quarter earnings that beat analyst expectations of 41 cents per share compared with 3 cents per share last year as revenue climbed. Shares of the women's apparel retailer soared $2.02 to close at $25.77.

U. S. coal company Walter Energy Inc. (NYSE: WLT) offered approximately $3.24 billion to aquire Canadian coal producer Western Coal. The stock price leaped $9.05 to close at $105.91.

Kohlberg Kravis Roberts & Co. (NYSE: KKR) offered approximately $3.58 billion to purchase Del Monte Foods Co. (NYSE: DLM). Shares of Kohlberg Kravis Roberts & Co. edged up 6 cents to $12.81 while Del Monte stock climbed $1.53 to $17.24.

A Food and Drug Administration advisory panel recommended approval for Mela Sciences Inc.'s (Nasdaq: MELA) skin cancer detection product MelaFind sending the stock price soaring $2.33 to $4.86.

FONAR Corp. (Nasdaq: FONR) reversed year ago losses to post a first quarter profit as revenue rose. Shares of the magnetic resonance imaging scanner maker surged 60 cents to $1.62.

SmartHeat Inc. (Nasdaq: HEAT) priced its offering of 5 million common shares at $5 per share sending the stock price down $0.65 to close at $5.00.

Aastrom Biosciences Inc. (Nasdaq: ASTM) reported disappointing results from a midstage clinical trial of its critical limb ischemia treatment sending the stock price plummeting $1.49 to close at $2.71.

A possible bailout from the European Union and the International Monetary Fund lifted shares of Allied Irish Banks (NYSE: AIB) $0.22 to close at $1.30 and The Governor and Company of The Bank of Ireland (NYSE: IRE) $0.72 to close at $2.88. 

Williams-Sonoma Inc. (NYSE: WSM) reported higher third quarter earnings that topped analyst estimates of 34 cents per share compared with 7 cents per share in the year ago period but the home products retailer forecast disappointing holiday sales. The stock price plunged $3.46 to $32.34.

Exelixis Inc. (Nasdaq: EXEL) reported positive results from two midstage clinical trials of its prostate and ovarian cancer treatment XL184 sending the stock price soaring $1.38 to $6.10.

LTX-Credence Corp. (Nasdaq: LTXC) will merge with Verigy Ltd. (Nasdaq: VRGY) in a stock swap deal. Shares of LTX-Credence soared $1.89 to $7.87 while Verigy stock lost 56 cents to $8.35.

Chico's FAS Inc. (NYSE: CHS) reported higher third quarter earnings that topped analyst estimates of 16 cents per share compared with 13 cents per share last year. The stock price climbed $1.06 to close at $11.13.

Shares of Quantum Corp. (NYSE: QTM) climbed $0.31 to close at $3.44 over speculation that the company may be the target of a possible acquisition. 

Credit Suisse analyst Satya Kumar downgraded GT Solar International Inc. (Nasdaq: SOLR) citing increasing supply amidst flat demand. The stock price tumbled $1.29 to close at $7.10.

Moody's Investors Service cut the credit rating of Regions Financial (Nasdaq: RF) again this month citing the departure of three executives in the banks risk management business.

Allegheny Technologies (NYSE: ATI) will pay approximately $778 million in cash and stock to acquire Ladish (Nasdaq: LDSH).

VeriFone (NYSE: PAY) will acquire Hypercom (NYSE: HYC) in an all-stock deal valued at approximately $485 million including the assumption of debt. 

Shares of Las Vegas Sands Corp. (NYSE: LVS) dropped $2.86 to close at $46.24 after Macau announced that it will increase regulation of casinos.

General Growth Properties Inc. (NYSE: GGP) priced its secondary public offering of 155 million shares at $14.75 per share. The stock price tumbled $1.09 to close at $14.31.

The Blackstone Group (NYSE: BX) increased its acquistion offer for Dynegy Inc. (NYSE: DYN) to $5 per share from $4.50 per share. Shares of Blackstone Group slipped 49 cents to close at $13.17 while Dynegy stock rose 39 cents to close at $5.02.

The Food and Drug Administration said that Mela Sciences Inc.'s (Nasdaq: MELA) skin cancer detection device must undergo a new clinical trial because of potential misdiagnoses. The stock price plummeted $3.40 to $2.97.

Third quarter earnings for Dick's Sporting Goods Inc. (Nasdaq: DKS) slipped to 14 cents per share from 16 cents per share last year but the results beat analyst expectations and the company lifted its full year guidance sending the stock price soaring $4.01 to $33.93.

Urban Outfitters Inc. (Nasdaq: URBN) reported higher third quarter earnings that topped analyst estimates of 43 cents per share compared with 36 cents per share a year earlier. The stock price soared $3.51 to $36.24. 

Third quarter earnings plunged for RINO International Corp. (Nasdaq: RINO) as revenue dropped prompting the company to cut its full year revenue guidance. The stock price plunged $3.46 to close at $7.55.

Shares of Thoratec Corp. (Nasdaq: THOR), maker of the Heartmate II, plummeted $6.21 to close at $24.74 after HeartWare International Inc. (Nasdaq: HTWR) reported positive results for its implantable heart pump. HeartWare stock leaped $13.92 to close at $86.18.

Rumors that the European Union will offer Ireland a bailout package lifted shares of Allied Irish Banks (NYSE: AIB) 14 cents to close at $1.18.

Mediacom Communications Corp. (Nasdaq: MCCC) chief executive Rocco Commisso will pay a premium of $8.75 per share in cash to take the company private sending the stock price soaring $1.52 to $8.38.

EMC Corp. (NYSE: EMC) announced that it will pay approximately $2.25 billion to acquire data storagte equipment firm Isilon Systems Inc. (Nasdaq: ISLN). EMC stock eased $0.10 to $21.62 while shares of Isilon jumped $7.48 to $33.77.

Caterpillar Inc. (NYSE: CAT) will pay approximately $7.6 billion to acquire mining equipment maker Bucyrus International Inc. (Nasdaq: BUCY).  Shares of Caterpillar gained $2.05 to $83.09 while Bucyrus stock leaped $20.09 to $89.71.

Sensata Technologies Holding (NYSE: ST) priced its secondary offering of 20 million shares at $24.10 per share lifting the stock price $1.70 to close at $25.90.

The Food and Drug Administration raised safety concerns about Human Genome Sciences Inc.'s (Nasdaq: HGSI) lupus treatment Benlysta sending the stock price plunging $2.88 to close at $23.60.

STR Holdings Inc. (NYSE: STRI) reported higher third quarter earnings of 31 cents per share compared with 21 cents per share a year earlier but the results fell short of analyst expectations. The stock price plummeted $4.31 to close at $20.21.

Walt Disney Co. (NYSE: DIS) reported lower fourth quarter earnings of 43 cents per share compared with 47 cents per share last year but the company forecast improving trends in ad sales and theme park attendance. The stock price climbed $1.89 to $37.82.

Finisar Corp. (Nasdaq: FNSR) lifted its second quarter revenue guidance and expects third quarter revenue to beat expectations as well sending the stock price up $1.88 to $19.81.

Third quarter earnings slipped for Nvidia Corp. (Nasdaq: NVDA) to 15 cents per share from 19 cents per share a year earlier but the results topped analyst estimates and the company forecast fourth quarter revenue ahead of expectations. The stock price rose 70 cents to $13.31.

Flotek Industries (NYSE: FTK) narrowed third quarter losses to 9 cents per share from $1.22 per share a year earlier as revenue soared. The stock price climbed 60 cents to close at $2.77.

RINO International Corp. (Nasdaq: RINO) responded to allegations of fraud by Muddy Waters by launching an internal investigation into its business practices. Shares of the Chinese cleantech company tumbled $2.08 to close at $11.10.

Shares of Unitek Global Services (Nasdaq: UNTK) surged $3.45 to close at $4.59 on its first trading day.

Aegean Marine Petroleum Network Inc. (NYSE: ANW) disappointed with sharply lower third quarter earnings that fell short of analyst expectations of 10 cents per share compared with 33 cents per share last year. Shares of the marine fuel logistics company plummeted $5.51 to $10.47.

Cisco Systems Inc. (Nasdaq: CSCO) reported higher first quarter earnings that topped analyst estimates of 34 cents per share compared with 30 cents per share a year earlier but offered a disappointing outlook for the second quarter. The stock price plunged $3.78 to $20.71.

Netflix Inc. (Nasdaq: NFLX) selected Level 3 Communications Inc. (Nasdaq: LVLT) to be its primary content delivery network provider. Shares of Netflix fell $1.58 to $175.29 while Level 3 stock gained 13 cents to $1.16.

Smart Technologies Inc. (Nasdaq: SMT) blamed sharply higher income tax expenses for lower second quarter earnings. The stock price plunged $3.77 to $9.30.

American Banker named Assurant Inc. (NYSE: AIZ) in an article about abuses in the foreclosed properties insurance industry sending the stock price plummeting $3.79 to $36.35.

The Food and Drug Administration approved Bionovo Inc.'s (Nasdaq: BNVI) clinical development plan for its Menerba menopause treatment and possible breast cancer prevention drug. The stock price climbed 30 cents to $1.31.

Falling silver prices weighed down shares of Silvercorp Metals Inc. (NYSE: SVM) $1.18 to close at $11.54 and Silver Wheaton Corp. (NYSE: SLW) $2.76 to close a to $32.31.

TiVo Inc. (Nasdaq: TIVO) argued before an appeals court that EchoStar (Nasdaq: SATS) and Dish Network (Nasdaq: DISH) continue to infringe on its patents. Shares of TiVo tumbled $1.69 to close at $9.60 while EchoStar stock eased 4 cents to close at $21.66. Dish Network stock slipped 14 cents to close at $19.91.

Logitech International (Nasdaq: LOGI) raised its long-term gross margins to range between 35% to 37% from a range of 32% to 34% sending the stock price soaring $2.38 to close at $21.89.

Dean Foods Co. (NYSE: DF) disappointed with lower third quarter earnings that fell short of expectations of 13 cents per share compared with 27 per share a year earlier and announced the resignation of chief financial officer Jack Callahan effective November 30 to be replaced by Shauna Mara. The stock price plunged $1.70 to $8.66.

BusinessofVideo reported that Limelight Networks Inc. (Nasdaq: LLNW) and Level 3 Communications Inc. (Nasdaq: LVLT) will once again provide content delivery network services to Netflix Inc. (NYSE: NFLX) after Netflix experienced problems with Akamai Technologies Inc. (Nasdaq: AKAM). Shares of Limelight Networks climbed $1.21 to $7.81 while Level 3 stock plunged 34 cents to $0.55. Netflix stock gained $1.47 to $170.60 while shares of Akamai tumbled $2.59 to $51.55.

Chevron Corp. (NYSE: CVX) will acquire Atlas Energy Inc. (Nasdaq: ATLS) in a deal valued at approximately $4.3 billion. Shares of Chevron fell $1.13 to $83.67 while Atlas Energy stock leaped $10.66 to $42.38.

Republic Airways Holdings Inc. (Nasdaq: RJET) reported sharply higher third quarter earnings of 58 cents per share compared with 9 cents per share last year but revenue fell short of estimates and the airliner announced an offering of 12 million common shares. The stock price dropped $1.26 to close at $7.81.

Inland Empire Utilities Agency purchased a power plant from FuelCell Energy Inc. (Nasdaq: FCEL) for installation at a wastewater treatment plant lifting the stock price 29 cents to close at $1.56. 

Rising gold and silver prices lifted shares of Hecla Mining Co. (NYSE: HL) $1.03 to close at $8.96.

Uranium Resources Inc. (Nasdaq: URRE) raised $9 million through a registered offering and settled a lease agreement lawsuit in Texas lifting the stock price 40 cents to $2.15.

Radian Group (NYSE: RDN) will offer up to $350 million in convertible senior notes sending the stock price down $1.16 to $8.79.

Warner Chilcott (Nasdaq: WCRX) disappointed with sharply lower third quarter earnings of 23 cents per share compared with $1.69 per share a year earlier due to the return of several licensing rights to Leo Pharma products. Shares of the specialty pharmaceutical company tumbled $2.89 to $20.45.

Alpha Natural Resources (NYSE: ANR) offered to acquire Massey Energy Co. (NYSE: MEE). Shares of Massey Energy leaped $4.73 to close at $46.94 while Alpha Natural Resources stock dropped $1.26 to close at $44.45. 

Shares of Fresh Market (Nasdaq: TFM) soared $10.11 to close at $32.11 on its first trading day.

DexCom Inc. (Nasdaq: DXCM) narrowed losses for the third quarter to 23 cents per share from 29 cents per share a year earlier but revenue fell short of estimates sending the stock price plummeting $3.06 to close at $10.85.

Fluor Corp. (NYSE: FLR) swung to a third quarter loss of 30 cents per share from earnings of 89 cents per share last year due to one-time charges but revenue increased to top analyst estimates. The stock price leaped $6.08 to $55.88. 

SandRidge Energy (NYSE: SD) blamed derivative contract losses for swinging to an unexpected loss for the third quarter. The natural gas and oil company also announced the resignation of chief financial officer Dirk Van Doren. The stock price dropped 81 cents to $5.05.

Atmel Corp. (Nasdaq: ATML) reversed year ago losses of 4 cents per share to post a better than expected profit for the third quarter of 47 cents per share as revenue climbed. The stock price soared $1.39 to $10.32.

Axcelis Technologies Inc. (Nasdaq: ACLS) narrowed third quarter losses to 6 cents per share from losses of 15 cents per share last year as revenue more than doubled. The stock price climbed 43 cents to close at $2.56.

UBS downgraded Corinthian Colleges Inc. (Nasdaq: COCO) to a Sell rating sending the stock price down 54 cents to close at $3.97.

ION Geophysical Corp. (NYSE: IO) reversed year ago losses of 6 cents per share to post a profit for the third quarter of 8 cents per diluted share as revenue climbed. The stock price climbed 95 cents to close at $6.06.

Lionbridge Technologies Inc. (Nasdaq: LIOX) widened third quarter losses to 7 cents per share from losses of 2 cents per share a year earlier and forecast fourth quarter reveue below expectations sending the stock price tumbling $1.15 to $3.85.

Vishay Intertechnology Inc. (NYSE: VSH) priced its offering of $275 milllion in convertible senior debentures at an initial $13.88 per share. The stock price climbed $1.27 to $13.61.

Whole Foods Market Inc. (Nasdaq: WFMI) reported sharply higher fourth quarter earnings that beat analyst expectations of 33 cents per share compared with 20 cents per share last year prompting the natural and organic food supermarket operator to lift its fiscal 2011 outlook. The stock price soared $6.29 to $47.36.

PulteGroup Inc. (NYSE: PHM) widened third quarter losses to $2.63 per share from $1.15 per share in the year ago period due to significant charges and lower new home orders. Shares of the homebuilder lost 62 cents to close at $7.45.

Wabash National Corp. (NYSE: WNC) narrowed third quarter losses to 3 cents per share from losses of $2.23 per share a year earlier as revenue nearly doubled. The stock price gained 89 cents to close at $9.10.

MGM Resorts International (NYSE: MGM) narrowed third quarter losses more than expected to 72 cents per share from losses of $1.70 per share last year lifting the stock price $1.16 to close at $12.31. 

EOG Resources Inc. (NYSE: EOG) swung to a third quarter loss of 28 cents per share from a profit of 2 cents per share in the year ago period and cut its 2010 production outlook sending the stock price plummeting $9.97 to $87.77.

Sonus Networks Inc. (Nasdaq: SONS) widened third quarter losses more than expected to 8 cents per share from a loss of a penny per share a year earlier as revenue dropped and forecast full year revenue below expectations sending the stock price tumbling 52 cents to $2.68.

While third quarter earnings dropped for STEC Inc. (Nasdaq: STEC) to 26 cents per share from 47 cents per share last year, the results beat analyst expectations and the company forecast current quarter results ahead of estimates prompting an upgrade. The stock price climbed $1.48 to $16.80.

Third quarter earnings rose for Cabela's Inc. (NYSE: CAB) to 29 cents per share from 28 cents a year earlier on higher revenue and improved margins. The stock price leaped $3.79 to close at $22.07.

While fourth quarter earnings for Energizer Holdings Inc. (NYSE: ENR) more than doubled to $1.20 per share from 53 cents per share in the year ago period, the results fell short of expectations sending the stock price plummeting $6.96 to close at $66.37.

Skilled Healthcare Group Inc. (Nasdaq: SKH) swung to a third quarter loss of 68 cents per share compared with income of 24 cents per share last year due to a legal settlement but revenue rose to beat analyst expectations. Shares of the skilled nursing facilities operator soared 85 cents to close at $4.78.

Although Mindspeed Technologies Inc. (Nasdaq: MSPD) reversed year ago losses of 5 cents per share to post a better than expected profit for the third quarter of 46 cents per share, the company forecast fourth quarter revenue below expectations sending the stock price plummeting $1.68 to $5.87.

Radian Group Inc. (NYSE: RDN) swung to an unexpected third quarter profit of 84 cents per share compared with a loss of 86 cents per share a year earlier as mortgage delinquencies fell. Shares of the mortgage insurer climbed $1.28 to $8.73.

Oracle Corp. (Nasdaq: ORCL) will pay approximately $1 billion in cash to acquire Art Technology Group Inc. (Nasdaq: ARTG). Shares of Oracle rose 33 cents to $29.46 while Art Technology stock leaped $1.86 to $5.96.

JinkoSolar Holding Co. Ltd. (NYSE: JKS) reported third quarter earnings of $1.75 per American Depositary Share that beat analyst expectations by a wide margin and forecast fourth quarter revenue well ahead of estimates. Shares of the solar energy company leaped $4.99 to close at $35.14.

Wilmington Trust Corp. (NYSE: WL) agreed to be acquired by M&T Bank Corp. (NYSE: MTB) after reporting significant losses for the third quarter. Shares of Wilmington Trust plunged $2.90 to close at $4.21 while M&T stock gained $2.72 to close at $77.47.

The Food and Drug Administration issued a complete response letter to Biodel Inc. (Nasdaq: BIOD) requesting two additional late stage clinical trials of its diabetes treatment Linjeta sending the stock price plummeting $1.50 to close at $2.13.

The Food and Drug Administration approved Avanir Pharmaceuticals' (Nasdaq: AVNR) Neudexta as the first and only approved treatment for pseudobulbar affect. The stock price more than doubled by soaring $2.70 to $5.12.

EXCO Resources Inc. (NYSE: XCO) chairman and chief executive Douglas Miller offered to take the oil and natural gas company private in a deal valued at approximately $4.6 billion sending the stock price soaring $4.61 to $19.44.