This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Microtune, JA Solar: Volume Movers

Stocks in this article: TUNE JASO

BOSTON ( TheStreet) -- Microtune (TUNE) was one of several stocks trading below $5 that traded on above-average volume Wednesday after a $166 million bid for the cable and digital television receivers company was announced.

Microtune rallied by nearly 20% after chipmaker Zoran (ZRAN) said it will pay $2.92 in cash for each share of Microtune's common stock in a transaction price of approximately $166 million, or $84 million net of cash acquired.

Zoran said it expects the acquisition to be accretive immediately following the close of the deal, which is expected to be in the fourth quarter of 2010.

Shares of MicroTune jumped by 37 cents, or 19.4%, to close the day at $2.95. Volume topped 13.6 million shares, compared to the average daily share volume of 144,000.

Elsewhere, JA Solar (JASO - Get Report) climbed by 76 cents, or 11.7%, to $7.24 after the company said it has signed multiple supply agreements with several customers to provide over 500MW of mono-crystalline and multi-crystalline solar cells for 2011 delivery. Volume topped 32.4 million shares, compared to the average daily share volume of 6.1 million.

Skilled Healthcare Group (SKH - Get Report) rallied by 88 cents, or 25.1%, to finish at $4.38 after the nursing home operator said it had settled a lawsuit brought against the company for having inadequate staffing levels.

Skilled Healthcare will pay $50 million through its revolving credit line to cover settlement payments, below the $677 million verdict originally handed down by a jury in July. As part of the settlement, the company admits no wrongdoing. Volume topped 3 million shares, compared to the average daily share volume of 636,000.

Qiao Xing Mobile (QXM) surged by 97 cents, or 37.6%, to $3.55 after Qiao Xing Universal Resources (XING) proposed to acquire all outstanding shares of Qiao Xing Mobile for 1.9 shares of its common stock plus 80 cents in cash per share.

Qiao Xing Universal currently owns approximately 61.1% of the outstanding shares of Qiao Xing Mobile. Volume topped 1.9 million shares, compared to the average daily share volume of 30,000.

EDAP TMS (EDAP - Get Report) rose by 23 cents, or 10.3%, to finish the trading session at $2.65 after the ultrasound treatment company announced favorable clinical outcomes for patients treated with its Ablatherm-HIFU; an ultra-sound based technology for treating prostate cancer. Volume topped 1.4 million shares, compared to the average daily share volume of 18,000.

-- Written by Robert Holmes in Boston.



>To contact the writer of this article, click here: Robert Holmes.

>To follow Robert Holmes on Twitter, go to http://twitter.com/RobTheStreet.

>To submit a news tip, send an email to: tips@thestreet.com.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,191.37 -195.84 -1.13%
S&P 500 2,002.16 -27.39 -1.35%
NASDAQ 4,637.9940 -43.5030 -0.93%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs