Wednesday, June 27, 2012
Hot Stocks Of The Day (ZNGA, ENTR, SUPN, COOL, LORL, PSDV)
Zynga Inc (NASDAQ:ZNGA) stock fell 0.26% to $5.75 after the company announced a handful of new game titles for both the company’s mobile and social lines, including two new entries for its flagship “Ville” series. Additionally, Majesco Entertainment Co announced that it has entered into a publishing agreement with Zynga Inc. Under the agreement, Zynga will publish Mini Putt Park, Majesco's latest social game.
Entropic Communications, Inc. (NASDAQ:ENTR) stock surged 29.41% to $5.28 in the early hour after the company said it expects second-quarter results to be better than its prior estimates, owing to strong results for its connectivity products. The company now expects second-quarter revenue to range in between $81 million and $82 million and earnings per share of $0.80 a share.
In April, the company’s first-quarter profit collapsed 67% as ongoing pressures in the semiconductor sector hit its top line.
Supernus Pharmaceuticals Inc (NASDAQ:SUPN) shares gained 16.25% to $14.22 in the morning hour after the company yesterday said that it received a tentative approval from the Food & Drug Administration for its Trokendi XR epilepsy drug. The FDA completed its review of the drug and no additional clinical study is required. The company said that final approval depends on resolving a marketing exclusivity issue raised by the FDA.
Majesco Entertainment Co. (NASDAQ:COOL) shares climbed 13.26% to $2.05 in the early hour after the company announced that it has entered into a publishing agreement with Zynga, under which Zynga will publish Mini Putt Park, Majesco's latest social game. Currently available in beta on Facebook, the game is scheduled to officially launch on Facebook and Zynga's destination for social games Zynga.com this summer.
Loral Space & Communications Ltd. (NASDAQ:LORL) stock climbed 13.82% to $65.72 in the early hour after the company yesterday announced its entry into a definitive agreement with MacDonald, Dettwiler and Associates Ltd. related to the sale of Loral's wholly-owned subsidiary, Space Systems/Loral (SS/L). The transaction provides for Loral to receive consideration from MDA of US$875 million and cash dividends and other payments from SS/L which are expected to be in excess of US$135 million.
pSivida Corp. (NASDAQ:PSDV) stock surged 11.12% to $2.50 in the morning hour on an above average volume of 208k shares, 7x times its average volume. The shares of the company have plunged over 39% in the last one year. The company had earlier this month was issued an US patent titled "Ocular Trocar Assembly" for a new inserter developed by the company to facilitate administration of micro-drug delivery devices.