NetSol Technologies Inc. (NASDAQ:NTWK) soared 12.25% to $1.10 on very high volume after the company swung to profit in the fourth-quarter.
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The company said that it earned 4 cents a share from a year-earlier loss of 3 cents a share.
It now expects fiscal 2011 non-GAAP earnings of $0.15 - $0.20 a share on revenue of $40.0 - $44.0 million. The current consensus earnings estimate is $0.19 a share on revenue of $46.2 million for the year ending June 30, 2011.
NetSol Technologies, Inc. (NetSol) is a provider of global business services and enterprise application solutions. NetSol uses its BestShoring practices and resources in analysis, development, quality assurance, and implementation to deliver solutions.
Skilled Healthcare Group, Inc. (NYSE:SKH) soared 23.50% after the company reached a settlement in a lawsuit, subject to court approval. Under terms of the settlement, the health-care-services company will deposit $50 million into escrow accounts to cover settlement payments to class members, notice and claims administration costs and other payments. The settlement contains no admission or concession of wrongdoing.
Skilled Healthcare Group, Inc. is a holding company, which owns subsidiaries, that operate skilled nursing facilities, assisted living facilities, hospices and a rehabilitation therapy business. It operates in two segments: long-term care (LTC), which includes the operation of skilled nursing and assisted living facilities, and ancillary services, which includes its integrated and third-party rehabilitation therapy and hospice businesses.
YM BioSciences Inc. (USA) (AMEX:YMI) Wednesday announced the publication of Phase I results demonstrating that CYT997, a novel vascular disrupting agent, was well tolerated at doses that were associated with pharmacodynamic evidence of vascular disruption in tumors. The article entitled "Phase I trial of CYT997, a novel cytotoxic and vascular-disrupting agent," was published in the premier cancer journal, the British Journal of Cancer.
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CYT997 is an orally bioavailable agent with dual mechanisms of vascular disruption and cytotoxicity and has the potential to be broadly active against a range of tumor types. CYT997 is currently in a Phase II clinical trial for glioblastoma multiforme, a brain cancer with poor prognosis, with data expected in Q2 2011.
Microtune, Inc. (NASDAQ:TUNE) climbed 18.22% to $2.92 after Zoran (ZRAN) reached an agreement with the company to acquire Microtune for $2.92 a share in cash, for a total price of $166 million, or $84 million net of cash acquired, represent a premium of about 19% over the closing price of $2.47 on Tuesday.
Zoran expects the deal to be accretive immediately on closing, which is expected in the fourth quarter.
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