Benzinga's Microcap Movers for Friday April 13, 2012
Below are highlights from Benzinga's daily coverage of microcap securities making big moves:
Good Times Restaurants
Shares of Good Times Restaurants (NASDAQ: GTIM), the Golden, CO operator of drtive-through burger restaurants, rose 88% Friday on 54 times the average daily volume.
Good Times Restaurants shares rose as much as 200% Friday. There was no specific news. A company spokesperson told Benzinga they were notified by the NASDAQ that the volatility was caused by day traders. The float is 792,000 shares.
Good Times Restaurants closed at $2.07 on Friday.
ARC Wireless Solutions
Shares of ARC Wireless Solutions (NASDAQ: ARCW), the Denver, CO manufacturer of antennas and related wireless communication systems, rose 15% Friday on light volume.
The board of directors of ARC Wireless Solutions announced Thursday the signing of definitive agreements to purchase Advanced Forming Technology and Quadrant Metals Technologies. ARC will be renamed ARC Group Worldwide and will be a diversified manufacturing holding company with operations in Colorado, Florida, Pennsylvania, Texas, Minnesota, China and Hungary. ARC intends to continue to trade on the NASDAQ Capital Market with the ticker symbol "ARCW".
ARC Wireless Solutions closed at $3.40 on Friday.
Shares of Network Engines (NASDAQ: NEI), the Canton, MA provider of server-based application platforms, deployment solutions and lifecycle support services for software technology developers and OEMs, fell 25% Friday on 5 times the average daily volume. NEI announced Thursday that it has been notified by EMC that, as part of a strategic initiative, the integration of certain EMC standard platform products will be transitioned away from system integrators. The Company expects these products to begin to be transitioned from NEI during the December 2012 or March 2013 quarters, and at this time, the duration of the transition is unknown.
During the March 2012 quarter, these products represented approximately $21 million in quarterly revenues for NEI. NEI will continue to integrate EMC's Centera product line, which the Company has been integrating since 2002.
Network Engines closed at $1.07 on Friday.
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