Benzinga's Microcap Movers for Monday April 2, 2012
Below are highlights from Benzinga's daily coverage of microcap securities making big moves:
Shares of Vringo (NYSE: VRNG), the New York City provider of software platforms for mobile social and mobile video services, rose 88% Monday on 16 times the average daily volume.
On March 14, Vringo, and Innovate/Protect, a company that maximizes the economic benefits of intellectual property assets and owner of patent assets acquired from Lycos, announced that they had entered into an agreement to merge.
The patents in the lawsuit involve sorting ads based on click-throughs.
Vringo closed at $3.10 on Monday.
Transcontinental Realty Investors
Shares of Transcontinental Realty Investors (NYSE: TCI), the Dallas-based real estate investment company, rose 28% Monday on light volume.
Transcontinental Realty Investors reported results of operations for the fourth quarter ended December 31, 2011 on Monday. During the three months ended December 31, 2011, the Company reported net loss applicable to common shares of $21.3 million or $2.54 per diluted earnings per share, as compared to a net loss applicable to common shares of $27.9 million or $3.43 per diluted earnings per share for the same period ended 2010.
Transcontinental Realty Investors closed at $3.10 on Monday.
Shares of Pinnacle Airlines (NASDAQ: PNCL), the Memphis-based regional airline, fell 49% Monday on 18 times the average daily volume. Pinnacle Airlines announced Monday that the Company and its subsidiaries have filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York. Pinnacle intends to use the Chapter 11 process to continue implementing a comprehensive turnaround plan aimed at addressing its operational and financial challenges in a rapidly evolving regional airline industry. During this process, the company will remain focused on providing passengers with safe, reliable and timely service in collaboration with its network partners, Delta Connection, United Express and US Airways Express.
Pinnacle Airlines closed at $0.69 on Monday.
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