Benzinga's Small Cap Movers for Wednesday December 5, 2012
Below are highlights from Benzinga's daily coverage of small cap securities making big moves:
Net 1 UEPS Technologies
Shares of Net 1 UEPS Technologies (NASDAQ: UEPS), the Johannesburg, South Africa provider of payment solutions and transaction processing services, rose 25% Wednesday on 16 times average volume.
Net 1 UEPS Technologies issued a statement on Wednesday saying on December 4, 2012, the company made public disclosure through a filing with the Securities and Exchange Commission that they had received letters from the U.S. Department of Justice, Criminal Division ("DOJ") and the SEC informing them that they are conducting investigations concerning our company. The announcement of these investigations raises questions and concerns about the company and the SASSA contract.
The company noted that these investigations are investigations and not findings of wrongdoing on the part of any person and that they are fully cooperating with the investigations.
Net 1 UEPS Technologies closed at $4.05 on Wednesday.
Shares of TranSwitch (NASDAQ: TXCC), the Shelton, CT provider of semiconductor solutions in the consumer electronics and telecommunications markets, rose 15% Wednesday on 2.5 times average volume.
TranSwitch announced Wednesday the recent completion of two licensing agreements with major network equipment OEMs for a combined amount of approximately $4 million. The agreements provide for the licensing of proprietary software enabling critical voice-over-IP gateway (VoIP gateway) functionality. The two contracts include software licenses, consulting, and training. Most of the proceeds from the announced IP contracts are expected to be collected in the current (fourth) quarter.
TranSwitch closed at $0.77 on Wednesday.
OCZ Technology Group
Shares of OCZ Technology Group (NASDAQ: OCZ), the San Jose, CA designer, manufacturer, and distributor of high-performance solid-state storage solutions and premium computer components, rose 12% Wednesday on twice average volume.
OCZ announced Wednesday that SED International is now authorized to distribute OCZ's complete line of consumer-based SSDs in Latin America and the Caribbean. This includes OCZ's popular SATA-based Vertex and Agility SSD Series, the PCIe-based RevoDrive SSD Series, and the recently announced Vector SSD Series featuring OCZ's new Barefoot 3 controller that delivers advanced I/O performance and enhanced endurance for personal computing environments.
OCZ Technology Group closed at $2.20 on Wednesday.
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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