News / Business
Small Cap Stock Movers (PLA, ICON, ADES, TIBB, ETRM)
Small Cap Stocks
Playboy Enterprises, Inc. (NYSE:PLA) rose 3.455 to $4.22 on over 104K shares after the company said it is downsizing its organizational structure and expects to record a restructuring charge of approximately $3 million in the second quarter as a result. The company did not disclose how many jobs were being cut.
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Iconix Brand Group, Inc. (NASDAQ:ICON) jumped 1% to $14.56 after it was reportedly set to buy Playboy before talks between the two dissolved.
Iconix Brand Group, Inc., (Iconix) is a brand management company engaged in licensing, marketing and providing trend direction for a portfolio of owned consumer brands.
ADA-ES, Inc. (NASDAQ:ADES) gained 2.88% to $5.35 after the company said it has reached an exclusive development and licensing agreement with Arch Coal (ACI). ADA-ES will receive an upfront payment of $2 million and royalty payments that could amount to as much as $1 per ton of coal sold by Arch.
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TIB Financial Corp. (NASDAQ:TIBB) plunged 23.31% to $0.53 after North American Financial Holdings agreed to invest approximately $175 million in TIB through the purchase of newly issued shares of TIB common stock and convertible preferred stock.
EnteroMedics Inc. (NASDAQ:ETRM) shares are getting hammered down by 25% to $0.361 after the company announced a 1-for-6 reverse split of its common stock, to be effective upon the close of trading on July 9, in order to meet the Nasdaq's minimum bid price listing requirement.
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