Hot Stocks Of The Day (NEBS, CHTP, DRYS, SMI, HOKU

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New England Bancshares Inc (NASDAQ:NEBS) climbed up 30.88% to $12.80. United Financial Bancorp Inc and New England Bancshares Inc entered into a definitive merger agreement. United Financial Bancorp will acquire New England Bancshares for a deal valued at approximately $91.0 million. According to the terms of the agreement, each share of New England Bancshares common stock will be converted into the right to receive 0.9575 of a share of United Financial Bancorp common stock.

Chelsea Therapeutics International Ltd (NASDAQ:CHTP) among the losers and the stock went down 30.26% to $1.36. The Company said that a recent clinical study of its investigational rheumatoid arthritis treatment CH-4051 did not the primary endpoint and the small drug maker had no further plans to develop the medication. The Company's Phase II clinical trial focused on patients with rheumatoid arthritis who don't respond adequately to treatment with methotrexate.

DryShips Inc (NASDAQ:DRYS) plunged 6.76% to $2.21. The Company posted first quarter net loss of $47.5 million or $0.12 loss per share compared to net income of $25.8 million or $0.07 per share in the prior year quarter. The loss was mainly attributable to downtime and mobilization related to the commencement of new contracts of Company's subsidiary. However, analysts expected the Company to report a loss of $0.04 per share for the quarter.  Revenues were $247.50 million compared to $207.41 million in the prior year quarter.

Semiconductor Manufacturing Int'l (ADR) (NYSE:SMI) slipped 11.29% to $1.65 on a traded volume of 154k shares. Recently, the Company announced the signing of a cooperation framework document between its subsidiary SMIC Beijing and the Beijing municipal government. This will lead to the establishment of a joint venture to launch SMIC Beijing's Second Phase Expansion Project.

Hoku Corporation (NASDAQ:HOKU) among the top gainers and the stock jumped up 64.33% to $0.218. The Company has quit construction at its polysilicon plant in the U.S. state of Idaho. The company has also ceased business and terminated all employees at subsidiary Tianwei Solar USA Inc due to financial concerns. The Company has hired Imperial Capital LLC to restructure its debts.