Small Cap Movers (JAZZ, BKS, MNKD, SPRD)
Published on Friday, 06 January 2012 13:03 Written by Paul Oldrini
New York, January 6th (TradersHuddle.com) – Jazz Pharmaceuticals (NASDAQ: JAZZ) climbed 9.41% to $45.36 in the morning trading after the company provided full year financial guidance for 2012 reflecting the planned business combination with Azur Pharma Public Limited Company, which the companies are targeting to close during the week of January 16, 2012. The company also announced that the Hart-Scott-Rodino waiting period has expired.
Barnes & Noble (NYSE: BKS) gained 4.54% to $11.75 in the morning trading, rebounding from its sharp plunge in the prior session. The company said it is looking at options to spin off the popular e-book reader Nook as a separate business unit. By fiscal 2012 year-end, based upon forecasted device sales, the company expects annualized U.S. digital content sales will achieve a run-rate of approximately $700 to $750 million. The company's CEO was on CNBC defending its digital investment strategy and saying that brick and mortar sales for books and other items are profitable.
MannKind Corporation (NASDAQ: MNKD) climbed 9.62% to $2.62 in earlier trading after the company announced that it would present at the 30th Annual J.P. Morgan Healthcare Conference on Thursday, January 12, 2012 at 8:00 am (PT) at the Westin St. Francis Hotel in San Francisco, California.
Spreadtrum Communications (NASDAQ: SPRD) plunged 11.99% to $16.95 in the morning trading. On January 4th, the company introduced 1GHz Android smartphone platforms for TD-SCDMA (SC8810) and EDGE/WiFi (SC6820) and announced that both products are now sampling with customers. With these two new solutions, Spreadtrum is redefining the performance standard for low-cost smartphones, enabling OEMs to deliver 1GHz performance at US$100 retail prices.