Tuesday, September 25, 2012

Stocks In News (GENE, GEVO, EOX, SPLS)

Genetic Technologies Limited (ADR)(NASDAQ:GENE) shares climbed 14.33% to $3.83 after the company announced that BREVAGen has been cleared for sale into the State of Florida following the grant of a permit to the Company's Australian-based laboratory by the Clinical Laboratory Unit of the Florida Agency for Healthcare Administration (AHCA).

Will GENE Continue To Move Higher? Find Out Here

Gevo, Inc.(NASDAQ:GEVO) shares plunged 15.41% to $2.80 after the company announced the start-up of its Luverne, Minn., bio-isobutanol production facility. Over the past 17 weeks, Gevo has successfully produced and shipped commercial-quality product in railcars for customers.   The company’s market development is proceeding well. Bio-isobutanol applications for the specialty chemicals and chemical intermediates sectors include groundbreaking work in paraxylene with Toray and Coca-Cola.

Additionally, Gevo’s stock had its target price trimmed by Canaccord Genuity from $8.00 to $6.00 in a research note issued to investors today. The firm currently has a buy rating on the stock.

Emerald Oil Inc(NYSEAMEX:EOX) shares dropped 6.18% to $0.835 after the company announced that it has priced a public offering of 93,750,000 shares of common stock to the public at $0.80 per share. The gross proceeds to Emerald from the offering are expected to be $75.0 million, and the net proceeds are expected to be approximately $69.1 million, after deducting underwriting discounts and commissions and other estimated offering expenses. Emerald expects to close the sale of the shares of common stock on September 28, 2012, subject to customary closing conditions. 

Staples, Inc.(NASDAQ:SPLS) shares fell 3.81% to $11.88 in pre-market hour after the company said it will close more stores, implement leadership changes and invest in its online unit as the company looks for ways to cut down expenses and grow in a struggling economy.

Will SPLS Rebound After Today’s Fall? Find Out Here

The company plans to cut retail square footage in North America by around 15% by the end of fiscal 2015. The cost savings plan is expected to generate annualized pretax cost savings of about $250 million by the end of fiscal year 2015.

No comments:

Post a Comment

Privacy Policy | Legal Disclaimer