Benzinga's Small Cap Movers for Monday November 26, 2012
Below are highlights from Benzinga's daily coverage of small cap securities making big moves:
Shares of Oclaro (NASDAQ: OCLR), the San Jose, CA provider of lasers and optical components, rose 25% Monday on 2.5 times average volume.
Oclaro announced Monday that it has signed a definitive agreement to sell the assets of its Santa Rosa thin film filter business to Photop Technologies, a wholly-owned subsidiary of II-VI Incorporated (OTC: IIVI). Pursuant to the agreement, Oclaro will also sell its interleaver product line to Photop Koncent. Both transactions are expected to close December 3, 2012.
Total consideration to Oclaro for these transactions will be in the form of cash proceeds of $27 million, with $23 million to be paid upon closing, $3 million payable on or before December 28, 2012 and $1 million to be held in escrow until December 31, 2013.
Oclaro closed at $2.09 on Monday.
Shares of EntreMed (NASDAQ: ENMD), the Rockville, MD clinical-stage pharmaceutical company, rose 24% Monday on 32 times average volume.
EntreMed announced Monday the publication of favorable results of a preclinical study in breast cancer of its oral Aurora A/angiogenic kinase inhibitor, ENMD-2076.
EntreMed closed at $1.73 on Monday.
Shares of Anadigics (NASDAQ: ANAD), the Warren, NJ provider of integrated RF solutions to optimize wireless, broadband and cable performance across all major networks, rose 20% Monday on 3.5 times average volume.
Anadigics was upgraded to Buy from Hold at Needham, with a $2.50 price target.
Anadigics closed at $1.56 on Monday.
The information in this article is taken from public sources, press releases, and websites that cannot always be verified. Please note that investing in microcap stocks is highly speculative. The companies mentioned here are for information purposes only. Benzinga makes no claim as to the suitability of these stocks as an investment. Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.</banadigics>
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