Trubion, ShoreTel: Volume Movers
BOSTON (TheStreet) -- Trubion Pharmaceuticals (TRBN) was one of several stocks trading below $5 and poised to move on above-average volume Friday after the company agreed to be acquired in a $135.5 million deal.
Trubion Pharmaceuticals said it will be acquired by Emergent BioSolutions (EBS) for up to $135.5 million in cash and stock, including upfront consideration of $96.8 million and up to $38.7 million of success-based milestones.
Under the terms of the agreement, each share of Trubion Pharmaceuticals common stock will be converted into the right to receive an upfront payment of $1.365 per share in cash and 0.1641 shares of Emergent BioSolutions common stock. The upfront payment represents a value of $4.55 per share, based on the trading average of Emergent BioSolutions common stock for the five days prior to the deal being signed.
Shares of Trubion surged by $1.48, or 49.3%, to $4.48 in Thursday's late trading session. The average daily share volume for Trubion is 12,000.Elsewhere, ShoreTel (SHOR) was poised to rally after the communications systems company said it had a fiscal fourth-quarter adjusted loss of $1 million, or 2 cents a share, which excludes stock-based compensation expenses. That was narrower than the average analyst consensus for a loss of 5 cents a share. Revenue was up 30% from a year ago to $42.2 million, also exceeding forecasts. Looking ahead to its fiscal first quarter, ShoreTel expects revenue to fall in a range of $41 million to $45 million, which compares to the Thomson Reuters average estimate for revenue of $41.27 million. The average daily share volume for ShoreTel is 172,000. The stock closed Thursday at $4.41. Oxigene (OXGN) jumped by 5 cents, or 13.5%, to 42 cents in Thursday's after-market session after the company reported second-quarter net income of $2.5 million, or 4 cents a share, swinging from a year-ago loss of $5.3 million, or 11 cents a share, mostly due to an increase in the non-cash gain resulting from a change in fair value of warrants and other financial instruments. The average daily share volume for is 89,000. Appliance Recycling Centers of America (ARCI) climbed by 11 cents, or 5%, to $2.30 in Thursday's late trading session after the company said it swung to a second-quarter profit of 13 cents a share from a year-ago loss of 9 cents a share. Revenue rose to $28.2 million in the second quarter from $25.4 million a year earlier. The average daily share volume for Appliance Recycling is 6,000. On the downside, Energy Focus (EFOI) fell by 17 cents, or 7.8%, to $2 in Thursday's after-hours session, retracing some of Thursday's 24% rally, after the lighting products company posted a second-quarter loss of 8 cents a share, compared with a single analyst estimate for a loss of 19 cents a share in the quarter. Energy Focus said sales rose to $9 million in the quarter from $3.3 million in the year-ago quarter, and the company expects third-quarter sales to exceed $9 million.. The average daily share volume for Energy Focus is 128,000. -- Written by Robert Holmes in Boston. Check out all of Friday's high-volume, under-$5 stocks at the Dollar Store. View the Dollar Store portfolio on StockPickr. Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV