Morning Market Movers (UCBI, MAXY, SWS, FTK)
United Community Banks Inc (NASDAQ: UCBI) shares surged 30.72% to $2.00 at 9:52 am. UCBI announced its plans to raise $380 million in capital and offload $435 million in bad assets.
Maxygen Inc (NASDAQ: MAXY) shares advanced 26.76% to $5.21. Astellas Pharma Inc announced its plans to purchase MAXY's stake in autoimmune therapy joint venture Perseid for $76 million.
SWS Group Inc (NYSE: SWS) jumped 21.50% to $5.99. SWS shares have dipped 59.22% over the past 452 weeks, while the S&P 500 index has gained 7.77% in the same period.
Flotek Industries Inc (NYSE: FTK) climbed 17.46% to $6.19. FTK reported a 30.6% y/y surge in 2010 revenue.
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