Afternoon Market Movers
Ligand Pharmaceuticals (NASDAQ: LGND) soared 14.10 percent to $36.90 after the company announced ownership limit for BVF to 25% of outstanding shares.
Finisar (NASDAQ: FNSR) shot up 11.78 percent to $16.23 after the company reported upbeat fiscal four-quarter earnings and issued strong forecast for the first quarter.
ChinaEdu (NASDAQ: CEDU) gained 7.70 percent to $6.29 after the company announced receipt of "Going Private" proposal at $7.00 per ADS.
Medical Group (NASDAQ: WMGI) traded up 5.82 percent to $26.40 after the company announced its plans to sell its implants business to a unit of MicroPort Scientific for $290 million in cash.
Rio Alto Mining (NYSE: RIOM) dropped 15.90 percent to $2.01 after the company's RSI reading landed at 28.8.
FuelCell Energy (NASDAQ: FCEL) dipped 12.61 percent to $1.18 after the company priced senior unsecured convertible notes offering.
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