U.S. stocks fell modestly in the opening session on Monday
as investors continued to focus on growth outlook with host of large companies
are schedule to report their quarterly earnings this week. The Dow Jones
Industrial Average lost 74.32 (-0.58%) to 12,702.77, the S&P 500 fell 7.12 (-0.52%)
at 1,349.66 and the NASDAQ Composite lost 18.45 (-0.63%) to 2,890.02.
SUPERVALU INC.
(NYSE:SVU) shares gained 4.74% to $2.43 in the morning hour after the
company plans to reverse a 35% drop in its stock this year that has cost
bondholders $471 million as they believe the debt of the company to be in
distress.
Investors are concerned that a new credit agreement
Supervalu reached for its loans which doesn’t have financial maintenance
restrictions will encourage the Eden Prairie to increase leverage as it seeks
to boost profitability.
Nanosphere, Inc.
(NASDAQ:NSPH) stock fell 4.95% to $2.84 in the early hour after the company
today announced preliminary results for the second quarter ended June 30, 2012.
The company reported second quarter 2012 revenues of $1.3 million as compared
to $0.5 million for the same period in 2011 owing to new customer placements.
Customer placements for the second quarter 2012 were 25 bringing the cumulative
placements to 166.
Conmed Healthcare
Management, Inc. (NYSEAMEX:CONM) stock surged 13.33% to $3.91 in the morning
hour after the company, along with and Correct Care Solutions, LLC (CCS),
announced that they have entered into a definitive merger agreement providing
for CCS to acquire Conmed, for $3.95 per share in cash. The purchase price
represents an approximately 33% premium over the average closing price per
share for the 30 days prior to Conmed's announcement of its intention to
explore strategic alternatives and represents an equity value of approximately
$59 million.
AuthenTec, Inc.
(NASDAQ:AUTH) shares climbed 10.26% to $5.05 in the early hour after the
company announced that Samsung has chosen its QuickSec VPN security for use in
new Android smartphone and tablet models. AuthenTec's QuickSec Mobile VPN
Client for Android enhances secure communication through an Internet Protocol
Security (IPsec) based VPN client which is integrated in Samsung smartphones
and tablets.
IsoRay, Inc.
(NYSEAMEX:ISR) shares plummeted 20.41% to $1.17 in the morning hour after
the company announced that it has entered into agreements with certain
institutional investors for a registered direct placement of approximately $3.5
million of common stock at a price of $0.965 per share. Gross proceeds will be
approximately $3.5 million, before deducting placement agent's fees and estimated
offering expenses. The offering is expected to close on or about July 19, 2012,
subject to satisfaction of customary closing conditions.
No comments:
Post a Comment