Unusual 11 Mid-Day Movers 07/03: (UNTK) (ONP) (PRAN) Higher; (LINE) (UQM) (LNCO) Lower
UniTek Global Services, Inc. (Nasdaq: UNTK) 36.2% HIGHER; announced that it has received a commitment letter from Apollo Investment Corporation for financing arrangements including an asset-based revolving credit facility totaling $75 million (the "Commitment Amount"). The commitment letter contemplates that the parties will enter into definitive documentation for the ABL Facility no later than July 10, 2013.
Orient Paper, Inc. (NYSE: ONP) 28.4% HIGHER; announced that the staff of the SEC has notified the Company that it has completed an investigation of the Company and does not intend to recommend any enforcement action by the SEC. The staff began an informal inquiry regarding the Company in December 2010.
Prana Biotechnology (Nasdaq: PRAN) 19.0% HIGHER; announced that it has received approval from the Austin Health Human Research Ethics Committee (HREC) to commence a 12-month open-label extension study with Alzheimer's Disease patients participating in Prana's IMAGINE trial.
Novogen (Nasdaq: NVGN) 16.3% HIGHER; announced that it has put into place a funding arrangement with a sophisticated US-based institutional investor, providing it with up to $5 million of working capital over the next 3 years.
Emulex Corp. (NYSE: ELX) 14.3% HIGHER; popped higher on reports the company hired Goldman Sachs to seek buyers
Linn Energy, LLC (Nasdaq: LINE) 14.2% LOWER; continuing lower after disclosing an informal SEC investigation yesterday. Two law firms have since moved to form class-action lawsuits.
Glu Mobile (Nasdaq: GLUU) 12.5% HIGHER; ramping higher again as peer Zynga (Nasdaq: ZNGA) continues to show positive gains.
UQM Technologies Inc. (UQM) 12.2% LOWER; investors taking profits after a 25 percent gain the last two sessions. Trading has been volatile recently on increased volume.
Linn Co, LLC (Nasdaq: LNCO) 11.4% LOWER; also lower on an SEC investigation. For more color, click here.
Atlas Resource Partners, L.P. (NYSE: ARP) 11.4% LOWER; lower along with other upstream MLPs given recent action in Linn Energy and LinnCo.
Mead Johnson Nutrition (NYSE: MJN) 10.4% LOWER; lower as Goldman and Wells Fargo downgraded the stock today.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW *NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here begin ad tag (tile=12) -- End ad tag --