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Latest Activist Situations: A report in the Chicago Sun-Times said Sears Holdings (SHLD - Get Report) could be a target for activist investor William Ackman, who runs Pershing Square Capital. An earlier report in the New York Post speculated that Anheusier-Busch (BUD) would be his target. Wednesday, Sears was down 0.5%, closing at $177.58.
Biggest % Gainers: San Diego's Inovio Biomedical (INO) added 24%, recovering some of Tuesday's losses. Shares increased 53 cents to $2.73, after the company reported positive preclinical results for DNA vaccines using its electroporation technology, which improved immune responses against malaria, HIV and hepatitis C vs. traditional vaccine-delivery methods.
Biggest % Losers: TowerStream (TWER - Get Report), a commercial wireless Internet provider, plummeted 33% after reports it would sell $40 million in stock to investors at a below-market price of $4 per share. President and CEO Jeff Thompson said the company plans to use the offering's proceeds to build out its target markets. The stock ended trading down $1.92 to $3.95.52-Week Highs: The triple-digit drop in the Dow did not affect Johnson Controls (JCI - Get Report), which added 4% after several analysts reported a buy rating. The car component maker's shares increased $4.31, ending up at a new 52-week high of $112.76. 52-Week Lows: Jabil Circuit (JBL - Get Report) has been on a downward slide since last week, when the company announced lower-than-expected earnings and slashed full-year guidance. The St. Petersburg electronic manufacturer sunk 3% Wednesday, landing at a 52-week low of $21.00. Rising on Unusual Volume: Apparel retailers declined on Wednesday, but not Guess? (GES - Get Report). The company's shares gained 3.8%, based on impressive first-quarter earnings and inflated full-year guidance. Shares were trading at 449% of normal volume, finishing up $1.80 to $49.22. Stocks with Unusual Option Activity: Eastman Kodak (EK) was experiencing unusual option activity. Shares of the photographic services company traded down 2.29%, or 61 cents, to $25.97.