Thursday, August 16, 2012

SINA Corporation Extends Rally On Earnings - BTH, VQ, SINA, OCZ, SQNM

OCZ Technology Group Inc. (NASDAQ:OCZ) stock increased 1.87% to $4.92 after the company’s shares was downgraded by equities research analysts at Sterne Agee from a “buy” rating to a “neutral” rating in a research note issued to investors yesterday.

Sequenom, Inc. (NASDAQ:SQNM) stock gained 4.57% to $3.61. The 52 week trading range for the company is $2.65 - $6.22. The shares of the company declined 38% in the last one year. The company is a molecular diagnostic testing and genetics analysis company committed to providing molecular diagnostic testing services, and research use only products, services, applications, and genetic analysis products that translate the results of genomic science into solutions for biomedical research, translational research, molecular medicine applications, and agricultural, livestock, and other areas of research.

Blyth, Inc. (NYSE:BTH) shares surged 20.46% to $44.70 after the company announced that ViSalus has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission for a potential Initial Public Offering of its Class A common stock. The registration statement has been filed by FVA Ventures, Inc., which will be renamed ViSalus, Inc. in connection with the IPO. Following the IPO, Blyth will continue to own over 50% of ViSalus' common stock. The number of shares to be offered and the price range for the offering have not yet been determined.

Can BTH Extend Rally? Find Out Here

Venoco, Inc. (NYSE:VQ) shares jumped 14.59% to $10.92 after the company announced that it has been informed by Denver Parent Corporation ("DPC"), an affiliate of Timothy Marquez, Venoco's Executive Chairman, that DPC is engaged in advanced discussions regarding the financing of the merger contemplated by the merger agreement among Venoco, Mr. Marquez, DPC and another affiliate of Mr. Marquez.
DPC has advised Venoco that it expects the $436.5 million financing package to consist of a $21.5 million initial draw on a new first lien revolving credit facility with an initial borrowing base of $125 million, a $175 million second lien term loan at Venoco, an asset sale from Venoco to DPC in the amount of $210 million and capital raises by DPC in the amount of $240 million, including a volumetric production payment on the assets sold to DPC by Venoco.

SINA Corporation (USA) (NASDAQ:SINA) shares climbed 12.10% to $57.06 after the company posted second quarter income of $33.2 million, or $0.49 a share, up from $10 million, or $0.15 a share in the year ago period. Adjusted per-share profit sank to $0.05 a share from $0.20 a share. Net revenue rose 11% to $131.6 million. Analysts expected a loss of a penny a share. Excluding deferred revenue, the top line was $126.9 million, in line with the company's May forecast of $126 million to $129 million.

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