Benzinga's Microcap Movers for Friday September 28, 2012
Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves:
Shares of Broadway Financial (NASDAQ: BYFC), the Los Angeles, CA community-oriented savings bank, rose 123% Friday on 61 times average volume.
Broadway Financial reported much better than expected earnings for Q2 after the close Thursday. The company reported net earnings of $1.7 million, or $0.81 per diluted common share, for the second quarter of 2012, compared to a net loss of ($1.7) million, or ($1.15) per diluted common share, for the second quarter of 2011.
Broadway Financial closed at $2.35 on Friday.
Shares of LodgeNet Interactive (NASDAQ: LNET), the Sioux Falls, SD provider of provider of interactive media and connectivity services to the hospitality and healthcare industries, rose 31.96% Friday on 10 times average volume.
On September 21, 2012, LodgeNet received a letter from The NASDAQ notifying the company that it failed to comply with NASDAQ Listing Rule 5450(b)(3)(C) because the market value of publicly held shares of the Company's common stock has fallen below the minimum $15,000,000 requirement for continued listing for a period of at least 30 consecutive business days. The NASDAQ letter has no immediate effect on the listing of the Company's common stock.
LodgeNet has 180 calendar days, or until March 20, 2013, to regain compliance with the minimum market value of publicly held shares rule. If at any time before March 20, 2013, the market value of publicly held shares of the Company's common stock is $15,000,000 for a minimum of 10 consecutive business days, the Company will regain compliance with the market value of publicly held shares rule, subject to NASDAQ's discretion to increase this time period.
LodgeNet Interactive closed at $0.64 on Friday.
Warrants of Penson Worldwide (NASDAQ: PNSN), the Dallas, TX provider of clearing and clearing related operational and technology services, rose 32.96% Friday on 5 times average volume.
Penson announced in an 8-K filing on Wednesday that it intends to voluntarily terminate the listing of its common stock on The NASDAQ Global Market by filing a From 25 with the Securities and Exchange Commission on or about October 8, 2012. As previously announced, the Company is not in compliance with NASDAQ's continuing listing requirements due to inability to maintain a minimum bid price of $1.00, a minimum market value of publicly held shares of $5 million, and a minimum stockholders' equity of $10 million.
Penson Worldwide closed at $0.05 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.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.