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NASDAQ Morning Movers; (NEWL), (KSWS), (PACB), (CALI)(January 17, 2013)
NASDAQ Morning Movers; (NEWL), (KSWS), (PACB), (CALI)
Visit: NewLead Holdings Ltd.
New York, New York - January 17, 2013 (www.investorideas.com newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector research for independent investors reports on the top percentage gainers on the NASDAQ for January 17th, 2013.
NewLead Holdings Ltd., (NASDAQ:NEWL) trading at $2.09 jumped up $0.81 or 63.28% on a volume of 3,112,922 shares.
Stocks rose after NewLead Holdings made the announcement that the company has entered into an agreement to acquire title and excavation rights in properties containing 18.6M tons of estimated coal reserves for $11M as well as acquire ownership and leasehold interests in properties containing approximately 143.1M tons of coal for $55M. These agreements are expected to generate $873.5M of revenue over a three-year period.
K-Swiss Inc., (NASDAQ:KSWS) trading at $4.72 gained $1.53 or 47.96% on a volume of 7,624,030 shares.
E.Land World Ltd., a South Korean apparel distributor, has agreed to pay about $170 million for K- Swiss Inc. (KSWS) to add U.S.-based athletic shoemaker's brands to its portfolio.
With this offer K-Swiss stockholders will receive $4.75 in cash per share, 49 percent more than yesterday's closing price on the Nasdaq Stock Market; however as of later this morning former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of K-Swiss, Inc. (KSWS) to E.Land World Ltd. The sale investigation centers on whether K-Swiss' shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues K-Swiss' stock, and whether K-Swiss' board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. The merger is expected to close in the second quarter of 2013.
Pacific Biosciences of California Inc., (NASDAQ:PACB) trading at $3.21 moved up $0.38 or 13.43% on a volume of 341,594 shares.
China Auto Logistics Inc., (NASDAQ:CALI) trading at $2.848 gained $0.28 or 10.82% on a volume of 31,950 shares.
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