Monday, September 17, 2012

Mid Day News Updates (KITD, GERN, EPL, BLMN, GRPN)

KIT digital, Inc. (NASDAQ:KITD) stock gained 1.83% to $3.07 after the company announced the implementation of workforce reductions pursuant to the restructuring program announced earlier this year. This phase will right size operation and streamline general corporate functions, while maintaining the Company's high standards of customer service and technical delivery. The restructuring will further enhance efficiencies and focus in the Company's principal areas of operation.

Geron Corporation (NASDAQ:GERN) shares climbed 0.71% to $1.42 in the early hour after the company announced the appointment of Andrew J. Grethlein, Ph.D., as Executive Vice President of Technical Operations. Dr. Grethlein will oversee the Company's manufacturing and quality functions. Dr. Grethlein joins Geron from Inspiration Biopharmaceuticals, where he was Executive Vice President and Chief Operating Officer from 2010 to 2012.

EPL Oil & Gas Inc (NYSE:EPL) shares declined 2.15% to $20.49 in the morning hour after the company agreed to buy certain shallow-water Gulf of Mexico properties from Hilcorp Energy GOM Holdings LLC for $550 million, a move that nearly doubles its proved reserves. The shelf oil and natural-gas interests are currently producing about 10,000 barrels of oil equivalent per day, about 50% of which are oil. The properties include three fields that are on the Central Gulf of Mexico shelf in the vicinity of EPL's existing core field areas.

Get Free Trend Analysis On EPL Here

Bloomin' Brands Inc (NASDAQ:BLMN) stock climbed 4.17% to $15 after Barclays Capital began coverage on shares of Bloomin' Brands and the firm issued an overweight rating on the stock. Separately, analysts at Bank of America initiated coverage on shares of Bloomin' Brands and set a buy rating on the stock.

Groupon Inc (NASDAQ:GRPN) shares fell 5.71% to $4.97 after Chief Financial Officer Jason Child this week told an investor conference that the company is taking steps that will help drive its growth in Europe.
The company is working on cross-border and multi-country deals as the company looks for newer ways to build market share and help retailers broaden their footprint.

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