What’s Moving These Hot Stocks: Tii’s Merger, Ventrus’ Good Results, BMC vs. Elliott, and Good & Bad Showings for Groupon & Ancestry.com
Tii Network Technologies, Inc (NASDAQ:TIII) is in a definitive merger agreement with Kelta, Tii announced. As part of this deal, Kelta will take on Tii for $2.15 per share, or total consideration of around $33.1M. This merger consideration is around a 48% premium above Tii’s common stock closing price according to the May 11 NASDAQ Stock Market website. Tii shares lately traded up $0.61 (42.07%) at $2.06.
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Ventrus Biosciences, Inc. (NASDAQ:VTUS)’s Phase 3, randomized, double-blind, placebo-controlled clinical trial of diltiazem hydrochloride cream, or VEN 307 in patients suffering from anal fissures has turned in positive results. The company’s development partner S.L.A. Pharma is finished with the majority of the outputs for the statistical analysis plan of the trial. Ventrus shares were trading up 20.16% ($2.21) recently at $13.17.
Groupon Inc (NASDAQ:GRPN) is having a strong day prior to its Q1 report this afternoon. With a short ratio of 5.8 as of April 30, short-covering is a likely role in this scenario. The company’s shares traded up $1.12 (11.31%) recently at $11.02.
BMC Software Inc. (NASDAQ:BMC): Elliott Associates, L.P and Elliott International, L.P. have notified BMC Software that it assumed beneficial ownership of over 5% of BMC’s common stock and will presently be filing a Schedule 13D with the Securities and Exchange Commission. BMC has also been notified by Elliott of the latter’s intention to nominate five nominees for election at the company’s coming annual stockholder meeting. This nomination slate is connected to Elliott’s proposition that the Board assemble a special committee to work toward selling the company. BMC said that it has considered this proposal, but the board unanimously decided that this is not in the stockholders’ or the company’s best interest at the time. BMC shares traded up 9.23% ($3.73) recently, at $44.13.
Ancestry.com Inc. (NASDAQ:ACOM): NBC’s cancellation of the celebrity genealogy show “Who Do You Think You Are?” after its third season has caused Ancestry.com’s stock to plummet. Piper Jaffray Analyst Gene Munster recommended purchasing Ancestry shares in a note to investors today based on this current weakness, holding that the company can effectively promote its web services through other means in the future. Also, Munster pointed out that the site’s subscription revenue growth is only marginally higher now after the program than before. Ancestry.com’s stock fell to $4.51 (17.24%) to $21.65 on early trading, and recently traded at $22.76 (down $3.4 or 13%).
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