Wednesday, September 12, 2012

Nokia Corporation Approaching $3 Mark (HK, TST, ONCY, NOK, GCOM)

Halcon Resources Corp(NYSE:HK) shares fell 6.78% to $7.97 in the early hour after the company announced the commencement of an underwritten secondary offering of 35,000,000 shares of its common stock offered by EnCap Energy Capital Fund VIII L.P.  The underwriters will also have a 30-day option to purchase up to 5,250,000 additional shares (100% secondary) of common stock from the Selling Shareholder.  Halc√≥n will not sell any shares or receive any proceeds from the offering.

TheStreet, Inc.(NASDAQ:TST) shares gained 0.66% to $1.41 after the company announced that it has completed the acquisition of The Deal LLC from Wasserstein & Co. The acquisition of The Deal will advance the strategic objectives of TheStreet by increasing both subscribers and content. The content-creation and marketing resources of The Deal and TheStreet will be leveraged to create new revenue opportunities for the combined company.

Oncolytics Biotech, Inc. (USA)(NASDAQ:ONCY) stock plunged 13.83% to $2.43 after the company issued an update on its Phase III trial of REOLYSIN in combination with carboplatin and pacitaxeol for the treatment of head and neck cancers.

The company focused on the development of oncolytic viruses as potential cancer therapeutics has stated that it has completed an internal analysis of the blinded combined clinical data for all 80 patients enrolled in the first stage of the study.

Nokia Corporation (ADR)(NYSE:NOK) stock jumped 6.45% to $2.97, extending its gain to 15% so far this week.

Yesterday, Nokia Siemens Networks, a joint venture between Finland's Nokia Corp. and Germany's Siemens AG (SI), is said to in talks with several companies to sell its business support systems unit as part of a drive to offload its non-core segments and focus on its main mobile broadband network equipment division.

Chief Executive Rajeev Suri told reporters at a news conference that the company is also looking to sell its applications business.

Shares of the company pulled back last week after the company unveiled its brand new two Lumias - Lumia 920 and Lumia 820 - running on Windows Phone 8 operating system to encounter the ongoing solid competition in the smartphone industry.

Has NOK Found The Bottom and Ready To Resume Uptrend? Get Free Trend Analysis Here

Although, the company added several notable features, but investors reacted negatively as the phones are not expected to be on store shelves until November which gives the company very little time to notch up sales in the financial year. Analysts complained that a limited fourth quarter launch would be a big disappointment for consensus earnings' estimates for the company.

Globecomm Systems, Inc.(NASDAQ:GCOM) shares plummeted 16.92% to $11.05 after the company’s quarterly profit missed analysts' estimates and the company forecast lower-than-expected revenue for 2013.

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