Blog - Page 5232 of 5663

TuesdayJul 31, 2007 8:08 pm

Companies on the Move on the Pink Sheets

Several companies on the Pink Sheets are making noise in the markets today, surrounding news or intentions of acquisitions. Oxford Funding Corp. (Pink Sheets: OXFD) may not be acquiring another company, but the company is acquiring a portfolio of under-performing loans at a substantial discount from a U.S. mortgage lender. Evan with the housing market facing serious problems and the mortgage sector in shambles, Oxford believes the acquisition of these under-performing loans might have a potential turnaround to become profitable. Oxford, which plans on receiving $3 million in these under-performing loans, will be receiving these loans at quite a discount.…

TuesdayJul 31, 2007 8:04 pm

Cambridge Display Shares Soar 89 Percent

Shares of Cambridge Display Technology Inc. (CDT) (Nasdaq: OLED) soared throughout the day, closing up $5.47, about 89 percent, to $11.62 at the market's close - easily surpassing the company's 52-week high of $7.88. Cambridge announced today it has agreed to be acquired for $12 per share, an aggregate of $285 million, by its Japan-based licensee Sumitomo Chemical Co. to expand its display material business. "In recent years, Sumitomo Chemical has positioned its display materials business as one of its strategically important business areas and an area of focus for our business resources. P-OLEDs are expected to see considerable market…

TuesdayJul 31, 2007 8:01 pm

Novavax Begins Test on New Vaccine Technology

Share prices for biotech vaccine developer Novavax Inc. (NASDAQ: NVAX) climbed a respectable 8 percent over the course of the day today, thanks to the news that the company has started the first human clinical trial of its vaccine for the pandemic flu virus. According to the latest statement from the company, Novavax has begun vaccinating 230 healthy human volunteers for the trial of its Virus-Like Particle (VLP)-based H5N1 clade 2 pandemic influenza vaccine to determine both the safety and immunogenicity - that is, the ability of any particular substance in a biological system to provoke an immune response -…

TuesdayJul 31, 2007 8:00 pm

IFT Shares up 22 Percent on News of Product Sales

Shares of International Fuel Technology Inc. (ITF) (OTCBB: IFUE) are up 9 cents, nearly 22 percent, to 51 cents this morning, moving on volume of 1.5 million. The flux comes after this morning's announcement Schnuck Markets Inc. has bought IFT's fuel additive, DiesoLIFT 10, for use in its distribution fleet. As a fuel performance enhancement company, IFT developed DiesoLIFT 10 as part its focus of providing its technology to industrial facilities using liquid hydrocarbon-based fuels. DiesoLIFT 10 is applicable to over-the-road, rail, marine and stationary power generations. According to the statement released today, the sale to Schnuck comes after a…

TuesdayJul 31, 2007 7:55 pm

SEC to Crack Down on Fraud

It looks like the Securities and Exchange Commission (SEC) is going to crack down even harder on individuals looking to manipulate the market for their own needs this year, according to this morning's statement from SEC Chairman Christopher Cox to the Banking, Housing and Urban Affairs Committee of the U.S. Senate. "The initiatives underway at the Commission have a common theme: they are aimed at benefiting investors whose returns are dependent on healthy, well-functioning markets," Cox said. "Back in Joseph Kennedy's day, our first SEC Chairman was amazed that ‘one person in every 10' owned stocks. But today, more than…

TuesdayJul 31, 2007 7:53 pm

Valley Forge’s Agreement with NASA Sends Shares up 15 Percent

Valley Forge Technologies Inc. (OTCBB: VLYF) shares are up $1.05, nearly 14 percent, to $8.80, rolling off this morning's news. Today the developer and manufacture of next generation detection and aerospace systems announced it has signed an agreement with NASA in which Valley Forge will provide Attitude Control Instruments to fit NASA specifications. According to the statement, the company's experience with satellite momentum wheels and bearing fields allowed it to produce a composite rotor that is lighter, more stable, and less expensive than currently used metal rotors. "Our aerospace section is rapidly evolving and this venture represents a fantastic opportunity.…

TuesdayJul 31, 2007 7:50 pm

Economic Numbers Have Positive Feelings for Investors

The stock market witnessed a strong morning start, and positive economic data released early this morning could be a driving force leading the stock market's rally this morning. Consumer Confidence Index for July rose this morning by 7.3 compared to June's revised index of 105.3 to 112.6. The level has reached a six-year high as conditions in the job market and business have improved. As the confidence level increased, the Commerce Department reported that consumer spending rose by 0.1 percent in June. The minimal change in June might signal a potential cooling off in spending, as the change in personal…

TuesdayJul 31, 2007 7:44 pm

EMFP, APNN to Merge

Share prices for Emergency Filtration Products (Pink Sheets: EMFP) jumped 23 percent to 32 cents a share today, thanks to the news that the company recently signed a letter of intent to merge with Applied Nanoscience Inc. (Pink Sheets: APNN). According to the deal, Applied Nanoscience will issue around 34 million shares of its common stock and 17 million warrants in exchange for the $45 million outstanding shares of Emergency Filtration. At this point, Applied Nanosciences reportedly has $21 million common shares outstanding, and both companies have warrants or options to acquire additional shares outstanding. As a result of the…

TuesdayJul 31, 2007 7:35 pm

YTB Int’l Announces New Ticker

Shares for YTB International Inc. (Pink Sheets: YTBL) gradually climbed 28.39 percent over the course of the day to $8.05 a share by mid-morning, soaring on the news of its new ticker symbol and the subsequent update of its stock split. According to the announcement, YTB International's Class A common shares will begin trading under the new ticker symbol YTBLA on August 1, 2007, in accordance with the company's recently announced stock reclassification. As a result, each share of Class B common stock will automatically convert into a share of Class A common stock; shareholders will receive two shares of…

TuesdayJul 31, 2007 7:29 pm

Everything’s Bigger in Texas for ERF Wireless

Shares of ERF Wireless Inc. (OTCBB: ERFW) jumped up in mid-day trading after announcing the opening of its first US-BankNet in Texas. Shares of ERFW were up 9 cents (10 percent) to 97 cents per share on volume of just over 382,000 shares. ERFW announced in a press release that its ERF Enterprise Network Services subsidiary has completed certification of the first segment of its US-BankNet system in the State of Texas. The encrypted, enterprise-class wireless and fiber network of US-BankNet will provide contracting financial institutions and large commercial customers in the state with high-speed connectivity to key service providers,…

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