Posted March 16, 2013 by Viraj Shah in Featured

Decrease in net loss helps Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) to rise- AMBO, AXX, HGSH, & FBN


Northern, WI 03/16/2013 (avauncer) -Ambow Education Holing Ltd (ADR) (NYSE:AMBO) surged by 53.47% to close at $1.55 in Friday’s trading session after the company received a buyout proposal from Baring LP (which already owns 10.0% of the outstanding shares of AMBO) to purchase all of the company’s outstanding ADSs and Class A shares (2 Class A Shares = 1ADS) at a purchase price of $1.46 per ADS and $0.73 per ordinary share. The proposed purchase price offers a premium of 44.5% over the closing price on March 15, 2013, which was the primary reason for the stock to move up.

Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) moved northwards by 28.99% to close at $4.36 in Friday’s trading session after the company announced its fourth quarter and year end 2012 results. It recorded a decline of 97.2% YoY in net loss to $0.3 million in the fourth quarter of 2012 compared to a net loss of $10.7 million in the year-ago period giving its stockholders a reason to celebrate. This was a result of two strategic alliances which the company got into in recent times.

Alderon Iron Ore Corp. Ordinary Shares (Canada)  (NYSEAMEX:AXX) surged 18.71% to close at $1.65 in Friday’s trading session after its on-time delivery on its strategic partnership with  Hebei Iron & Steel Group Co., Ltd (SHE:000709). With the conclusion of the strategic partnership investment, management can focus on the next significant catalysts for the stock, which we believe to be securing funding for the remainder of the project construction through a likely combination of additional off-take partners, debt financings (including through Chinese banks), and equity markets. Market lapped up the commitment of AXX’s management with enthusiasm, sending the stock high up.

China HGS Real Estate Inc (NASDAQ:HGSH) surged 22.65% to close at $6.9 in Friday’s trading session. Shares surged after the company signed an Indemnification Agreement with each of its directors as a positive event in the calendar of the company. This move signifies yet another move towards the organized approach of its management.

Furniture Brands International (NYSE:FBN) was another stock which went buzzing up by 21.62% to $1.35 on Friday exhibiting the fundamental strength of some of the brands owned by this company.

Viraj Shah

Viraj Shah has done M.Com (Finance) and currently pursuing CFP. He is a technical analyst who tracks US markets along with other global markets like India very closely. He is very passionate about stocks and believes that money can always be made in market.