The system is the next generation of Cardica's C-Port system, and it automates the creation of anastomoses, or attachments of blood vessels and grafts, such as those in coronary artery bypass graft surgeries. Shares were up $3.61 to $8.86.
Alanco Technologies (ALAN) surged more than 29% after the company said its first-quarter revenue more than tripled year-over-year to $5.1 million. The company also narrowed its loss to $1.2 million, or 8 cents a share, from a loss of $1.3 million and 12 cents a share a year ago. Shares of Alanco were gaining 37 cents to $1.63.
Coffee Holding (JVA - Get Report) was up 24% after saying it had fiscal 2006 revenue of $50.4 million, up from $41.5 million last year, an increase of 21%. Coffee Holding was higher by 97 cents at $4.95.Jennifer Convertibles (JEN) slumped as its fourth-quarter profits dropped to $1.6 million, or 18 cents a share, from $2.6 million, or 35 cents a share, in the year-ago period. Revenue from continuing operations increased by 2.2% to $36.2 million. The company also said it has recently seen a softening of demand, which may have an impact on its first-quarter results, but it's "confident that the results for fiscal 2007 will continue to show solid revenues and operating results." Shares were losing 21% to $5.75. America Service Group (ASGR) was falling after the Florida Department of Corrections decided to reject all bids to provide comprehensive health care services in one of its regions. Previously, America Service had disclosed that the Florida DOC had agreed to award the contract to the company's primary operating subsidiary, Prison Health Services. However, that arrangement was subject to the negotiation of final contract terms and the resolution of an intent to protest the proposed award to PHS. A formal protest was filed by a competing bidder, thereby staying the award process and any potential negotiations between the America Service unit and the Florida DOC. Shares of America Service slid 10% to $14.12.