Benzinga's Microcap Movers for Friday July 27, 2012
Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves:
Shares of Meru Networks, (NASDAQ: MERU), the Sunnyvale, CA wireless networking company, rose 56.80% Friday on 8.5 times average volume.
Meru Networks announced its financial results Thursday for the quarter ended June 30, 2012. Total revenues for the second quarter of 2012 were $24.5 million, up 5% from $23.2 million in the second quarter of 2011. Total product and service revenues (excluding ratable revenues) for the second quarter of 2012 were also $24.5 million, up 10% from $22.1 million in the second quarter of 2011.
Products revenues for the second quarter of 2012 were $20.3 million, up 7% from the $19.0 million reported in the second quarter of 2011.
Meru Networks closed at $2.65 on Friday.
TeleCommunication Systems (NASDAQ: TSYS), the Annapolis, MD wireless communications company, rose 17.24% Friday on 2.5 times average volume.
TeleCommunication Systems announced Friday that it has been selected by a global phone manufacturer to deliver an integrated maps, local search and navigation application featuring real-time traffic and other premium content, along with software components for use by third-party developers to enable location-based services. The agreement marks the first time that TCS' navigation platform will be a standard feature of a device manufacturer's offering.
The collaboration with the manufacturer underlines the importance of location and maps as a core feature for mobile devices, and will further enhance the customer experience.
TeleCommunication Systems closed at $1.36 on Friday.
Shares of pSivida Corp. (NASDAQ: PSDV), the Watertown, MA provider of miniaturized, sustained-release drug delivery products, rose 15.48% Friday on 6.5 times average volume.
pSivida Corp. announced Thursday the Federal Ministry of Health of Germany (Bundesministerium fur Gesundheit, BfArM) has granted marketing authorization to ILUVIEN for the treatment of vision impairment associated with chronic diabetic macular edema considered insufficiently responsive to available therapies.
This marketing authorization follows the completion of the Decentralized Regulatory Procedure in the European Union, in which the Medicines and Healthcare products Regulatory Agency in the United Kingdom, serving as the Reference Member State, delivered a positive outcome for ILUVIEN along with six Concerned Members States, specifically Austria, France, Germany, Italy, Portugal and Spain.
The German authorization is the fifth national approval in the EU, preceded by Austria, Portugal, the U.K. and France.
pSivida Corp. closed at $2.76 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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