Each morning, the exchanges come alive – and finding a company with news to back its movement allows MN1 to bring you updates each morning and afternoon to keep you on top of the small and micro-cap markets. The following companies released news late yesterday evening or early this morning:Shares of Bally Total Fitness (Pink Sheets: BFTH) were up 33 cents, or 75 percent, to 77 cents on volume of 1.7 million today, just minutes after the market’s open. The fitness center giant announced this morning its board of directors received a letter from current shareholders proposing an alternate Chapter 11 plan of reorganization. In the press release the company said it is engaging in discussions with the shareholders, and subject to confidentiality agreements, will provide due diligence access to those shareholders regarding the proposal.
Transmeta Corp. (Nasdaq: TMTA) shares jumped 23 cents, or 33 percent, to 93 cents on volume of 5.9 million in early morning trading following today’s news that Advanced Micro Devices (AMD) invested $7.5 million in Transmeta. In exchange, AMD will receive Transmeta preferred stock, though the number of shares was not released. In a statement, Transmeta said the investment will help its technology development efforts and AMD’s endeavors to leverage the company’s energy-efficient technologies.
Beacon Power Corp. (Nasdaq: BCON) shares climbed 15 cents, or 9 percent, to $1.78 on volume of 2.3 million this morning, responding to Thursday’s news. Yesterday Beacon announced that on July 3, 2007, it received a letter from the Nasdaq Stock Market that because the closing bid price of the company’s common stock remained at $1.00 per share or greater for at least 10 consecutive days, Beacon has regained compliance with the exchange.
