Allos Therapeutics Inc. (NASDAQ: ALTH) shares traded as much as 28% higher amid news that rival Spectrum Pharmaceuticals (NASDAQ: SPPI) has agreed to buy the company for $206 million, or $1.82 a share. The deal is expected to give Spectrum access to Allos’s anti-cancer drug Folotyn. Spectrum’s move followed news that its experimental drug to treat a common form of bladder cancer failed to significantly reduce the recurrence of tumors in late-stage trials.
ALTH added $0.39 to close at $1.83 on strong volume of 82.73 million shares. The stock has advanced 23.47% over the last five days. SPPI dropped 9.42% to $11.06 on volume of 9.27 million shares.
Allos Therapeutics is a biopharmaceutical company committed to the development and commercialization of innovative anti-cancer therapeutics. Allos is currently focused on the development and commercialization of Folotyn (pralatrexate injection), a folate analogue metabolic inhibitor. Folotyn is approved in the U.S. for the treatment of patients with relapsed or refractory PTCL.
NF Energy Saving Corp. (NASDAQ: NFEC) last week announced its financial results for the year ended December 31, 2011, posting total revenues of $14.93 million and net income of $2.05 million. “The 2011 fiscal year was marked by a profitable year and continued construction of its new manufacturing facilities, phase one of which was completed during the year,” commented Gang Li, chairman of NFEC.
NFEC soared 95.83% to $2.35 on volume of over 3.54 million shares. The stock has a 52-week range of $0.46 – $4.82. NFEC has advanced 170.08% in the last five days and 191.93% in the last month. Year-to-date, the stock is down 27.91%.
NF Energy Saving is a China-based provider of integrated energy conservation solutions utilizing energy-saving equipment, technical services and energy management re-engineering project operations to provide energy saving services to clients. The company’s customers are mainly concentrated in the electrical generation (large-scale thermal power generation, hydroelectric power, and nuclear power), water supply, and heat supply industries. The majority of revenues are from energy efficient flow control solutions including equipment and energy efficiency project services.
Bed Bath & Beyond Inc. (NASDAQ: BBBY) rocketed 9.84% to $72.75 today, setting a new 52-week high, after the housewares retailer on Wednesday announced strong results for its fourth quarter, which ended February 25. The company posted earnings of $1.48 a share on revenue of $2.73 billion, both topping analysts’ expectations of $1.33 a share and sales of $2.66 billion, according to a poll by FactSet Research.
BBBY added $5.62, or 8.49%, to close at $71.85 on volume of over 10.64 million shares. The stock has risen 7.69% in the last five days; 16.39% in the last month; and 46.93% year-to-date.
Bed Bath & Beyond, together with its subsidiaries, is a chain of retail stores, operating under the names of Bed Bath & Beyond, Christmas Tree Shops, Harmon, Harmon Face Values and buybuy BABY. In addition, the company is a partner in a joint venture which operates retail stores in Mexico under the name Home & More. The company sells a wide assortment of domestics merchandise and home furnishings. Domestics merchandise includes categories such as bed linens and related items, bath items and kitchen textiles. Home furnishings include categories such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables and certain juvenile products.
China Recycling Energy Corp. (NASDAQ: CREG) hit a new high of $3.30 before closing the session at $2.05, up 36.55% from the prior day’s closing price. Over 2.04 million shares exchanged hands today, dwarfing the 30-day average of just 19K. In the last five trading sessions, the stock has gained 70.83%.
The company late last month announced its results for the full year 2011, highlighting a 34% to $21.45 million increase in net income.
China Recycling Energy, based in Xi’an, China, provides environmentally friendly waste-to-energy technologies to recycle industrial byproducts for steel mills, cement factories and coke plants in China. Byproducts include heat, steam, pressure, and exhaust to generate large amounts of lower-cost electricity and reduce the need for outside electrical sources. The company’s management and engineering teams have over 20 years of experience in industrial energy recovery in China.
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