Hot Stocks Of The Day (CRED, GALE, MVIS, NCIT, CBLI)

CREDO Petroleum Corporation (NASDAQ:CRED) stock gained 31.86% to $14.32 in the early hour after the company’s board of directors has unanimously approved a definitive agreement pursuant to which Forestar Group, Inc. will acquire all of the outstanding shares of Credo's common stock for $14.50 per share, or approximately $146 million in the aggregate. The transaction has also been approved by the board of directors of Forestar. The transaction is expected to close in the second half of 2012.

Galena Biopharma Inc (NASDAQ:GALE) stock surged 13.18% to $1.46 in the morning hour after the company announced data from the Phase 1/2 clinical trial of NeuVax (E75). The Phase 1/2 clinical trials evaluated the NeuVax (E75) vaccine, mixed with GM-CSF. The trials (SN-33 (Node Positive) and SN-34 (Node Negative)) evaluated a combined 187 patients and have completed a median 60-months of follow-up, with the final patients expected to complete their booster treatments and final follow-up visits by September 2012.The final data analysis is expected to be reported in the fourth quarter of this year. Initially, patients in the trials were given a series of up to six inoculations of NeuVax dosed once a month.

Microvision, Inc. (NASDAQ:MVIS) shares climbed 8.70% to $3.25 in the early hour after the company on May 31, 2012, received purchase orders from Pioneer Corporation valued in excess of $4 million. The purchase orders cover key components, including MEMS and electronics, which are part of the company's patented next generation HD PicoP(R) display technology based on direct green lasers (PicoP Gen2) that Pioneer is integrating into its Cyber Navi car navigation system.

NCI Inc (NASDAQ:NCIT) shares gained 8.90% to $4.52 in the morning hour after the company announced today that it has been awarded a competitive task order valued at approximately $5.4 million under its Department of Justice (DOJ) IT Support Services (ITSS-4) contract. The period of performance is one base year, plus four optional years, and represents new business for NCI.

Cleveland BioLabs, Inc. (NASDAQ:CBLI) stock soared 57.48% to $2 in the early hour after the company announced strong survival results for its randomized, blinded, placebo-controlled efficacy study of CBLB502 in 179 non-human primates (NHPs) conducted under Good Laboratory Practice (GLP) with elements of Good Clinical Practice (GCP), as required by the U.S. Food and Drug Administration's (FDA) Animal Rule. The study demonstrated with a high degree of statistical significance the dose-response relationship between the administration of CBLB502 and the survival of lethally irradiated animals, the study's primary endpoint.