DragonWave, Inc. (NASDAQ:DRWI) stock surged 16.82% to $2.57 after the company posted second quarter net loss of US$1.1 million or US$0.03 per share from US$2.2 million or US$0.06 per share in the comparable quarter last year. Revenue for the second quarter was US$44.16 million, up from US$13.63 million in the year-ago quarter. Analysts expected the company to report a loss of US$0.29 per share for the second quarter on revenues of US$40.85 million for the quarter.
Furthermore, the company announced that for the third quarter of fiscal year 2013, it expects revenue to be in the range of $43 million to $50 million. Analysts are expecting the Company to report revenue of $52 million for the third quarter of 2013.
Amicus Therapeutics, Inc.(NASDAQ:FOLD) shares climbed 6.46% to $5.98 in the early hour after the company announced additional positive preliminary results from an ongoing Phase 2 open-label drug-drug interaction study (Study 010) to evaluate the safety and plasma pharmacokinetic (PK) effects of the pharmacological chaperone AT2220 (duvoglustat HCl) co-administered with enzyme replacement therapy (ERT) for Pompe disease (Myozyme(R) and Lumizyme(R)).
Cooper Tire & Rubber Company(NYSE:CTB) shares gained 7.70% to $20.14 in the morning hour. The Economic Times reported that Apollo Tyres Ltd is in the process of acquiring NYSE-listed tyre maker Cooper Tire & Rubber Company, sources with direct knowledge said. The deal to acquire a controlling stake in Cooper Tire could be in the range of $600-800 million, sources indicated. Apollo Tyres Ltd is raising $150 million via QIP and that will give them enough comfort for raising additional debt for funding the acquisition.
MetroPCS Communications Inc(NYSE:PCS) stock declined 6.56% to $11.25. As per reports from Reuters, Softbank Corp is in talks to buy a majority stake in Sprint Nextel for more than 1 trillion yen ($12.8 billion). Softbank said reports about the talks were based on speculation and it had no comment. Sprint declined to comment.