A123 Systems, Inc.(NASDAQ:AONE) shares increased 13.52% to $0.284. The company received notice from the Nasdaq last month that its stock price is too low for exchange standards and will be delisted if it does not recover to $1 in the next six months. The company said in a securities filing that it has until February 19 to increase its share price back to $1, which it breached more than a month ago. The shares of the company fell 20% in the last one month.
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Coldwater Creek Inc.(NASDAQ:CWTR) shares climbed 14.46% to $0.950 in the early hour. The company announced that its board of directors has approved a 1-for-4 reverse stock split of its common stock. The reverse split will become effective and Coldwater Creek common stock will begin trading on a split-adjusted basis when trading begins on October 4, 2012.
Additionally, Piper Jaffray today raised its rating on Coldwater from Neutral to Overweight and increased its price target from $1 to $2.
Synta Pharmaceuticals Corp.(NASDAQ:SNTA) shares jumped 10.63% to $8.43 after the company announced results from an interim analysis of the Phase 2b portion of the GALAXY trial, a global, randomized, multi-center Phase 2b/3 study designed to evaluate the efficacy and safety of the Company’s lead Hsp90 inhibitor, ganetespib, as second-line treatment for advanced non-small cell lung cancer (NSCLC). The results showed good tolerability for the combination of ganetespib (G) and docetaxel (D), as well as meaningful improvements in overall survival (OS) in adenocarcinoma patients receiving docetaxel plus ganetespib compared to those receiving docetaxel alone.
CVR Energy, Inc.(NYSE:CVI) stock gained 9.17% to $40.12 after CVR Refining LP, an associate of CVR Energy Inc (CVI.N), filed with regulators to raise up to $300 million in an initial public offering of its common units. The downstream energy limited partnership listed Credit Suisse and Citigroup as lead underwriters to the offering.
Additionally, CVR Refining intends to list its common units on the New York Stock Exchange under the symbol "CVRR".
TRW Automotive Holdings Corp.(NYSE:TRW) stock jumped 8.03% to $47.22 after the company announced that its Board of Directors has authorized a $1 billion share repurchase program. The repurchase program, which will commence in the fourth quarter of this year, is expected to be executed over two years.
EXCO Resources Inc(NYSE:XCO) stock climbed 5.12% to $8.42. The company announced that it will be releasing third quarter 2012 results on Monday, October 29, 2012, after market close. EXCO will host a conference call on Tuesday, October 30, 2012, at 8:00 a.m. (Dallas time) to discuss the contents of this release and respond to questions.