News

TRCI Shares Up After Coleman Cable Buyout

Technology Research Corp. (NASDAQ:TRCI) shares soared up this morning nearly 40%. TRCI is currently trading at $7.12 with over 400 thousand shares traded so far. This is well above its daily average of 42 thousand shares.

This rise occurs in conjunction with a buyout agreement between Technology Research Corp. and Coleman Cable. While Technology Research Corp is valued at roughly $34 million, Coleman Cable (NASDAQ:CCIX) agreed to buy all outstanding shares for about $7.20 a share which is a 40% premium over the previous close.

Raymond Malpocher, TRC’s lead independent Director stated, “We are excited to have TRC join a long-standing partner and industry leader.  This merger will allow TRC to leverage its technology in power management and power storage with Coleman’s broad marketing and distribution capabilities, enhancing the growth prospects of the entire enterprise.  This merger represents an excellent opportunity for our shareholders, customers, and employees.”

About Technology Research Corp.
Technology Research Corporation engages in the manufacture and sale of power management and control, intelligent battery systems technology, and electrical safety products to the consumer, commercial, and industrial markets in the United States.

Marriot Shares Fall on Low Forecast Expectations

Marriot International (NYSE:MAR) shares stumbled to hold ground this morning and have fallen 6.7% dropping nearly $2.50 per share to $35.15. With nearly 8 million shares moved this morning up from the average daily volume of slightly above 3 million shares. This decrease comes on the news of lower consumer demand and low forecast expectations.

Marriot International has said that international demand has been high but revenue per available room (revpar) for the U.S. markets is expected to be lower than initially forecast. Chief Financial Officer Carl Berquist stated that revpar growth in North America “has been modestly lower than expected, especially in large group hotels in markets such as New York, Atlanta, Orlando and Washington, D.C.”.

Other Hotel Companies have also seen shares fall slightly on Marriot’s forecast. Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT), owner of the St. Regis and W brands, fell 4.2 percent to $56.26. Hyatt Hotels Corp. NYSE: H)dropped 4.3 percent to $42.21.

About Marriott International Inc.
Marriott International, Inc. operates and franchises hotels and related lodging facilities worldwide. It operates and franchises hotels and resorts under various brands, including Marriott, JW Marriott, Renaissance, Autograph Collection, Courtyard, Fairfield Inn & Suites, SpringHill Suites, Residence Inn, TownePlace Suites, Marriott ExecuStay, Marriott Executive Apartments, The Ritz-Carlton, Bulgari, and EDITION.

GSI Commerce Shares Soar on Buyout News

GSI Commerce (NASDAQ:GSIC) shares shot up at market open 50% rising $9.75 to $29.14 per share.  With nearly 14 million shares traded so far this morning this marks a 10 fold increase in volume, up from the daily average of 1.4 million shares. This enormous increase comes on news of a buyout by online auction giant eBay Inc.( NASDAQ:EBAY).

Ebay announced it will pay a 51% premium of GSIC’s previous close. The deal is estimated to be $2.4 billion in cash. Part of the deal includes eBay lending GSIC founder Michael Rubin $467 million to create a new company incorporating the assets Rue La La and ShopRunner, two online shopping clubs. Ebay will maintain a 30% stake in the new company.

John Donahoe CEO for eBay Inc stated, “We intend to lead the next generation of commerce innovation. The acquisition of GSI, which offers the most comprehensive integrated suite of online commerce and interactive marketing services available, will significantly strengthen our ability to connect buyers and sellers worldwide.”

About GSI Commerce
GSI Commerce, Inc. provides e-commerce and interactive marketing services primarily in North America. The company operates in three segments: Global e-Commerce Services, Global Marketing Services, and Consumer Engagement.

Drugstore.com Shares Double on Buyout News

Drugstore.com, Inc. (NASDAQ:DSCM) share have doubled this morning up 110% heading into the midday trading. Drugstore.com’s shares have risen $1.98 to $3.77 from its previous close of $1.79.   [Read more...]

XOMA’s Diabetes Drug Fails in Trial

XOMA is down over 30% this morning after the company announced their diabetes drug failed to lower blood sugar. The company said that a random group of people with Type 2 diabetes from a pool of over 400 were treated [Read more...]

Dynasil Announces Patent Approvals

Shares of Dynasil Corporation of America (NASDAQ:DYSL) jumped over 80% and is currently trading at $6.65 with an intraday high of $7.48. DYSL is having a monster volume day with nearly 800 thousand shares traded so far today, well above its daily average of just 9 thousand shares.

Earlier this morning the company announced patent approvals for advanced radiation detection and increased detector production capacity. Their new detector material is capable of responding independently to both gamma and neutron radiation. This is a major advancement because most neutron detectors are based off Helium-3, which is only available in limited quantities.

Dynasil Corporation is currently installing a production facility for these new detectors at their Hilger Crystals Division in Margate, England. The company expects that the Hilger facility will be ready to supply production volume shipments of the new detectors during the quarter ending on September 30.

About Dynasil Corporation of America

Dynasil provides technology, products, services and solutions aimed at making the world safer and healthier. Dynasil serves their customers specific needs whether it be medical, industrial, or homeland security. The company has operations in Massachusetts, New Jersey, New York, and the UK.

Walgreen Shares Slip as Sales are Below Expectations

Walgreen Co. (NYSE:WAG) shares are falling this morning dropping nearly 7.5% and down $3.12 to 38.85 heading into midday trading. Nearly 18 million shares have been traded so far, up from the average daily volume of 6.7 million shares.

This downturn is due in large part to Walgreen’s fiscal second quarter missed meeting analysts expectations. While increasing 4.1% Walgreen’s fell short of the 4.4% that analyst predicted for Walgreen’s same-store sales. Non-pharmacy and prescription same-store sales also fell short of estimates.

Walgreen’s continues to push toward its competitors, mainly CVS Caremark (NYSE:CVS). While Walgreens has an edge in retail stores with more than 7,600 to CVS’s 7,025. They still fall behind CVS in the prescription drug market where CVS leads with more than 1 billion prescriptions filled annually.

About Walgreen Co.
Walgreen Co., together with its subsidiaries, engages in the operation of a chain of drugstores in the United States. The company’s drugstores sell prescription and non-prescription drugs, and general merchandise. Its general merchandise comprises household products, convenience foods, and seasonal items, as well as personal care, beauty care, candy, and photofinishing products.

Prana Biotechnology Shares Soar on Alzheimer’s Drug News

Prana Biotechnology Ltd.(NASDAQ:PRAN) shares are gaining significant ground this morning. Shares are being traded up 50% a $1.44 rise on the previous close for Prana. There have been over 15 million shares traded to this point, which marks a significant increase from the daily average 275,000 shares.

Prana Biotechnology Alzheimer’s drug PBT2 has shown the ability to repair the damage in an Alzheimer’s affected brain thereby facilitating the restoration of cognition in Alzheimer’s Disease. These findings explain the rapid improvement in cognition previously reported in Transgenic Alzheimer’s mice.

“The ability of PBT2 to promote the forming and reforming of connections between neurons is fundamental to the repair of brain tissue damaged by Alzheimer’s Disease, and the expression of key neuronal receptors and signaling proteins indicates that the repaired tissue is functional,” noted Prana’s Head of Research, Associate Professor Robert Cherny.  Professor Cherny concluded “These findings further demonstrate the unique combination of detoxification and neuronal restoration provided by PBT2 that underlie cognitive improvement in the clinic.”

About Prana Biotechnology Ltd.
Prana Biotechnology Limited engages in the research and development of therapeutic drugs for neurological diseases in Australia. The company primarily focuses on the Alzheimer’‘s, Parkinson‘’s, and Huntington‘’s diseases, as well as various age-related degenerative disorders.

Sprint Shares Plummet after AT&T & T-Mobile Deal

Sprint Nextel Corporation Comm Stocks Plummet on news of AT&T and T-Mobile deal.

Sprint Nextel Corporation Comm(NYSE:S) has seen share fall drastically this morning by nearly 16.5%. Heading into the midday trading hours the Sprint Nextel shares have seen an $.80 drop to $4.20 per share with nearly 160 million shares traded, three times the average daily volume.

This comes as rival AT&T essentially snatched up Sprints only opportunity to catch the telecommunications giant by agreeing to buy T-Mobile USA. Sprint was also in talks with T-Mobile to merge its operations. With such a deal in place, Sprint is left a distant third with seemingly no way to make up ground on the top 2.

On the heels of the T-mobile, AT&T announcement Sprint did announce it plans to partner with Google allowing customers to attach existing phone numbers to Google’s “Google Voice” service. Sprint will also sell Google’s android based “Nexus S” smartphone starting this spring.

About Sprint Nextel Corporation
Sprint Nextel Corporation offers wireless and wireline communications products and services to consumers, businesses, and government users in the United States, Puerto Rico, and the U.S. Virgin Islands.

Globalstar, Inc. Soars on FCC News

Globalstar, Inc (NASDAQ:GSAT) saw its shares soar this morning up over 30% heading into midday trading, with a rise of over $.30 to $1.35 and nearly four times its daily volume traded. This rise is due in large part to the FCC News Globalstar, Inc received today.

The Federal Communications Commission (FCC) announced that Globalstar, Inc. will be allowed to operate its second-generation satellites within the boundaries of the United States.  This authority will become effective once Globalstar Inc, completes registration of the new satellites in France.

Globalstar, Inc. has already launched six satellites for the second generation constellation and recently received six new satellites for an upcoming May launch date. After the May launch, Globalstar, Inc. is expecting two more launches each containing six satellites. These additional satellites within the current Constellation will provide improved coverage throughout the United States for Globalstar, Inc. customers.

About Globalstar, Inc.
Globalstar, Inc. provides mobile voice and data communications services through satellite in the United States and Canada. It provides duplex services comprising mobile voice and data satellite communications, satellite data modem, and fixed voice and data satellite communications services; and simplex services, including personal, asset tracking, and remote monitoring.

Celera Corp Shares Soar on Buyout

Celera Corporation (NASDAQ:CRA) saw shares soar this morning up over 29% rising $1.86 with a whopping 26 million shares traded heading into midday trading hours. This is a monumental increase from their daily average trading volume of 400,000 shares.

Quest Diagnostics Inc. ( NYSE:DGX) a Madison, New Jersey based medical laboratory operator announced that it would purchase all of Celera Corps outstanding shares for $8 per share. The $671 million deal price also includes Celera’s cash and short term investments. The $8 purchase price is a 28% premium from where shares of Celera Corp closed on Thursday March 17, 2011.

With this acquisition Quest Diagnostics Inc. gains it access to proprietary genetic testing and a research and development pipeline focusing on cardiovascular disease and cancer. The acquisition also come on the heels of Celera Corp’s announcement of a Q4 net income drop of 31%. As product licensing and revenue declined the companies earnings did as well falling to $2.5 million down from the $3.6 in Q4 of 2009.

About Celera Corporation
Celera Corporation, an Alameda, California based company, offers personalized disease management through a combination of products and services primarily in the United States.

Nike Reports Q3 Results, Shares Fall

When the opening bell rang this morning Nike, Inc (NYSE:NKE) shares opened down nearly 9% as shares have fallen $7.90 on nearly 10 million shares traded this morning. This amount of volume is four times the amount of average daily volume.

This sharp decline comes as Nike, Inc reported Q3 financial results that did not meet expectations. While net income was up 5% overall to $523 million from last years Q3 results of $497 million. Its revenue rose 7% to $5.08 billion as sales in most markets rose. The financial forecast was for a revenue goal $5.17 Billion.

Investors confidence is waning as share prices have shown this morning. Nike executives did not quell fears stating that higher material, production and distribution cost will continue to hurt profitability into 2012. Nike is planning to increase prices across the board to compensate for the higher production cost. However, executives feel that the financial benefits from price increases will not be seen until Fiscal year

This marks the first time in eight years that Nike’s quarterly earnings have fallen below analyst average forecast.

About Nike, Inc
Nike is a Beaverton, Oregon based athletic shoe and apparel company. They design, develop, and markets footwear, apparel, equipment, and accessory products for men, women, and children worldwide.

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