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BioMimetic Therapeutics, Inc. (Nasdaq: BMTI) 69.0% HIGHER; Wright Medical (Nasdaq: WMGI) will acquire BioMimetic in a $380 million deal.
CAMAC Energy Inc. (AMEX: CAK) 21.5% HIGHER; Chairman and CEO, Dr. Kase Lawal, has adopted a prearranged trading plan (the “Plan”) in accordance with guidelines specified by Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. Pursuant to the Plan, commencing on November 19, 2012 and continuing through February 2013, Dr. Lawal will purchase up to 2 million shares of the Company’s common stock from time to time on the open market at prevailing market prices and subject to conditions and restrictions relating to volume, price and timing.
UTStarcom Holdings Corp. (Nasdaq: UTSI) 16.7% HIGHER; authorized the commencement of a cash tender offer for US$30 million of the Company’s outstanding ordinary shares at a purchase price of US$1.20 per share. The Company intends to commence the tender offer by December 7, 2012. The Board of Directors has also authorized the Company to obtain required shareholder and other approvals and prepare and file the necessary documents to effect, promptly following the closing of the tender offer, a 3-for-1 reverse split of its outstanding and authorized ordinary shares.
Oclaro (Nasdaq: OCLR) 14.7% HIGHER; Oclaro higher following Cisco’s (Nasdaq: CSCO) proposal to acquire Meraki.in a $1.2 billion deal.
BGC Partners (Nasdaq: BGCP) 13.4% HIGHER; Raymond James raises its rating on BGC to Strong Buy with a price target of $6.50.
Ligand Pharmaceuticals (Nasdaq: LGND) 13.0% HIGHER; Ligand and partner GlaxoSmithKline (NYSE: GSK) announced that the U.S. Food and Drug Administration (FDA) has approved PROMACTA for the treatment of thrombocytopenia (low blood platelet counts) in patients with chronic hepatitis C to allow them to initiate and maintain interferon-based therapy.
Telestone Technologies (Nasdaq: TSTC) 12.4% LOWER; reported Q3 EPS of ($0.09), versus $0.50 reported last year. Revenue for the quarter came in at $17.4 million, versus $29.6 million reported last year.
K12, Inc. (NYSE: LRN) 12.3% LOWER; lower as Wells Fargo cut its rating from Outperform to Market Perform and cuts its valuation range from $34-$37 to $18-$22.
Diamond Foods (Nasdaq: DMND) 11.4% LOWER;Jefferies downgraded to Underperform, cutting its price target 63 percent to $10.
Acacia Research Corp. (Nasdaq: ACTG) 10.1% LOWER; seeing some weakness after announcing a $100 million buyback plan last Friday. Shares are firm above $21 support level.
Spherix (Nasdaq: SPEX) 8.8% LOWER; On September 28, 2012, Spherix was notified by NASDAQ that it failed to comply with the minimum 500,000 publicly held shares requirement; thus the Company was put on notice of a potential de-listing of its stock if it failed to regain compliance with the rule. As a result of the recently completed private placement of securities, on November 15, 2012, NASDAQ provided confirmation to the Company that the Company has regained compliance with Marketplace Rule 5550(a)(4) since the Company now has approximately 690,700 publicly held shares.
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