Monday, August 27, 2012

Top News Of The Day (CSOD, BBY, VNET, BPAX, CUR)

Cornerstone OnDemand Inc (NASDAQ:CSOD) among the gainers and the stock soared 6.37% to $26.70. JG Capital initiated coverage on the stock with an overweight rating and a $35.00 price target.

Best Buy Co Inc (NYSE:BBY) jumped up 5.60% to $18.28 on a traded volume of 9.20 million shares. The Company will allow the founder Richard Schulze to conduct due diligence and form an investment group with private equity sponsors as he tries to acquire the Company. After the due diligence period start, Schulze will get access to nonpublic information and can propose a fully financed bid within 60 days.

 The board of directors has authorized payment of a regular quarterly cash dividend of 17 cents per common share. The quarterly dividend is payable on October 2, 2012 to shareholders.

21Vianet Group Inc (NASDAQ:VNET) moved up 5.54% to $10.10. Recently, the Company reported second quarter net profit of RMB18.0 million or RMB0.30 per American Depositary Share compared to net loss of RMB29.6 million or RMB0.66 per ADS in the prior year period. Total revenues were RMB364.5 million versus RMB230.4 million in the prior year period.

Biosante Pharmaceuticals Inc (NASDAQ:BPAX) increased 6.62% to $1.57. The company has completed the closing of the sale of 2,359,932 shares of its common stock and warrants to purchase up to 1,179,966 additional shares of its common stock in a registered direct offering. The gross cash proceeds were $3,475,000. Each unit, consisting of one share of common stock and a warrant to purchase 0.5 of a share of common stock was sold to one institutional investor for a purchase price of $1.4725.

Neuralstem Inc (NYSEAMEX: CUR) soared 2.22% to $0.460 on a traded volume of 200k shares. The Company announced the completion of the Phase I trial of its NSI-566 spinal cord neural stem cells for the treatment of amyotrophic lateral sclerosis. 

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