Benzinga's Microcap Movers for Friday May 18, 2012
Below are highlights from Benzinga's daily coverage of microcap securities making big moves:
TeleCommunication Systems Inc.
Shares of TeleCommunication Systems Inc. (NASDAQ: TSYS), the Annapolis, MD wireless communications company, rose 10.85% Friday on slightly more than the average daily volume.
TeleCommunication Systems Inc. announced Thursday that it will present at the Stephens Spring Investment Conference on Wednesday, June 6 at 2:00 p.m. Eastern time, with one-on-one meetings held throughout the day. Management will discuss the company's progress, as well as its financial outlook for 2012.
TeleCommunication Systems Inc. closed at $1.43 on Friday.
Shares of BIDZ.com (NASDAQ: BIDZ), the Culver City, CA online retailer, rose 54% Friday on 21 times the average daily volume.
BIDZ.com announced late Thursday that it had entered into a definitive merger agreement with Glendon Group to be acquired for $0.78 per share in cash. This per share price represents a premium of 59.2% over the Company's closing price of $0.49 per share, on May 16, 2012, the last trading day prior to the execution of the merger agreement, and a premium of 37.7% over the Company's volume-weighted average of the closing prices over the 30 consecutive trading days including and immediately preceding May 16, 2012.
Under the Merger Agreement, the Company is entitled to actively solicit alternative transaction proposals until 11:59 p.m. New York City time on June 25, 2012. After that time and until 11:59 p.m. New York City time on July 9, 2012, the Company may continue negotiations with any person who has submitted a written alternative acquisition proposal by 11:59 p.m. New York City time on June 25, 2012 or with any group in which at least 50% of the equity or other financing of such group includes members of any group that submitted a bona fide written alternative acquisition proposal by 11:59 p.m. New York City time on June 25, 2012.
BIDZ.com closed at $.76 on Friday.
Frederick's of Hollywood
Shares of Frederick's of Hollywood (NYSE: FOH), the Hollywood, CA women's intimate apparel retailer, fell 22.48% Friday on 6.5 times the average daily volume.
Frederick's of Hollywood announced Friday that in view of the unusual market activity in the Company's common stock, the NYSE had contacted the Company in accordance with its usual practice. However, it is the Company's policy not to comment on unusual market activity, as was being experienced in Friday's trading.
Frederick's of Hollywood closed at $0.24 on Friday.
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.
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