Shengkai Innovations (OTC:VALV) Stock, Quote.Headers.trade-ideas

Shengkai Innovations Inc is a ceramic valve manufacturer with operations in the People's Republic of China.

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SHENGKAI INNOVATIONS INC by Shengkai Innovations, Inc.

Shengkai Innovations Inc

Valvoline Inc

Breitburn Energy Partners LP (NASDAQ: <a class="ticker" href="/stock/bbep#NASDAQ">BBEP</a>) shares fell 5.99% to touch a new 52-week low of $15.23. Breitburn Energy's trailing-twelve-month ROE is -1.68%.

Shengkai Innovations (NASDAQ: <a class="ticker" href="/stock/valv#NASDAQ">VALV</a>) shares fell 5.95% to reach a new 52-week low of $0.34. Shengkai Innovations' trailing-twelve-month operating margin is -23.07%.

Double Eagle Petroleum Co (NASDAQ: <a class="ticker" href="/stock/dble#NASDAQ">DBLE</a>) declined 2.36% to touch a new 52-week low of $3.73. Double Eagle Petroleum's PEG ratio is 2.03.

Golar LNG (NASDAQ: <a class="ticker" href="/stock/glng#NASDAQ">GLNG</a>) shares dropped 2.77% to reach a new 52-week low of $30.58. Golar LNG shares have dropped 15.71% over the past 52 weeks, while the S&amp;P 500 index has gained 18.02% in the same period.

Shengkai Innovations, Inc. (Nasdaq: <a class="ticker" href="/stock/valv#Nasdaq">VALV</a>) today announced that while it ordinarily does not comment on market activity or market rumors, in view of the recent unusual market activity in its common stock, the Company states that it is not aware of any material corporate developments that could account for the unusual trading activity.

Shengkai Innovations Comments on Unusual Market Activity 

Shengkai Innovations Trading 49.1% Higher on Heavy Volume; Currently at $1.7

Shengkai Innovations Trading 10% Higher on Heavy Volume; Currently at $1.10

Shengkai Innovations, Inc. (Nasdaq: <a class="ticker" href="/stock/valv#Nasdaq">VALV</a>) today announced the results of the Company's 2012 Annual Meeting of Stockholders, which was held on December 22, 2011 in Tianjin, PRC.

At the Annual Meeting, stockholders elected Wang Chen, Guo Wei, Michael Marks, Jun Leng and Ruizhu Mu to serve as directors of the Company until the close of the next annual meeting of stockholders.

At the Annual Meeting, stockholders also approved the following proposals:

a one-for-two reverse stock split of the Company's issued and outstanding common stock; and 
the appointment of Albert Wong &amp; Co. as the Company's independent registered public accounting firm for the fiscal year ending June 30, 2012.

Stock Split

Shengkai Innovations Announces 1-for-2 Reverse Stock Split 

Shengkai Innovations, Inc. (Nasdaq: <a class="ticker" href="/stock/valv#Nasdaq">VALV</a>) today announced the company received a notice from NASDAQ's Listing Qualifications Department indicating that for the last 30 consecutive business days the bid price for the Company's common stock had closed below the minimum $1.00 per share required for continued listing on The NASDAQ Global Market under NASDAQ Listing Rule 5450(a)(1). The notification letter states that the Company will have 180 calendar days, or until May 8, 2012, to regain compliance with the minimum bid price requirement. In order to regain compliance, shares of the Company's common stock must maintain a minimum closing bid price of $1.00 per share for a minimum of ten consecutive business days. The notification letter has no effect at this time on the listing of the Company's common stock on The NASDAQ Global Market. Shengkai's common stock will continue to trade on The NASDAQ Global Market under the symbol "VALV".

Legal

Shengkai Innovations Receives Notice From NASDAQ Regarding Minimum Market Value of Listed Securities 

Zion Oil &amp; Gas Inc (NASDAQ: <a class="ticker" href="/stock/zn#NASDAQ">ZN</a>) shares lost 5.40% to create a new 52-week low of $1.91. ZN shares have dropped 64.93% over the past 52 weeks, while the S&amp;P 500 index has gained 8.03% in the same period.

Shengkai Innovations Inc (NASDAQ: <a class="ticker" href="/stock/valv#NASDAQ">VALV</a>) shares fell 43.65% to touch a new 52-week low of $1.11. VALV shares have dropped 74.08% over the past 52 weeks, while the S&amp;P 500 index has gained 8.03% in the same period.

Sonic Foundry Inc (NASDAQ: <a class="ticker" href="/stock/sofo#NASDAQ">SOFO</a>) shares dropped 9.75% to create a new 52-week low of $9.07. SOFO's trailing-twelve-month profit margin is 1.21%.

Sims Metal Management Ltd (NYSE: <a class="ticker" href="/stock/sms#NYSE">SMS</a>) shares declined 4.09% to create a new 52-week low of $13.60. SMS' trailing-twelve-month ROA is 3.46%.

SOFO

Shengkai Innovations Inc (NASDAQ: <a class="ticker" href="/stock/valv#NASDAQ">VALV</a>) shares dipped 43.65% to $1.11 at 9:50 am. VALV shares have dropped 74.08% over the past 52 weeks, while the S&amp;P 500 index has gained 8.03% in the same period.

JinkoSolar Holding Company Limited (NYSE: <a class="ticker" href="/stock/jks#NYSE">JKS</a>) fell 21.02% to $7.14. JKS shares have declined 68.77% over the past 52 weeks, while the S&amp;P 500 index has gained 8.03% in the same period.

Village Bank &amp; Trust Financial Corp (NASDAQ: <a class="ticker" href="/stock/vbfc#NASDAQ">VBFC</a>) shares lost 14.21% to $1.63. VBFC's trailing-twelve-month ROA is 0.14%. 

Southern Community Financial Corp (NASDAQ: <a class="ticker" href="/stock/scmf#NASDAQ">SCMF</a>) dropped 13.79% to $1.25. SCMF's trailing-twelve-month profit margin is -52.19%.

SCMF

VBFC

Morning Market Losers

Motorola Mobility Holdings Inc (NYSE: <a class="ticker" href="/stock/mmi#NYSE">MMI</a>) shares gained 56.68% to $38.34 at 9:45 am. Google Inc (NASDAQ: <a class="ticker" href="/stock/goog#NASDAQ">GOOG</a>) announced its plans to buy Motorola Mobility for $12.5 billion in cash.

China XD Plastics Company Limited (NASDAQ: <a class="ticker" href="/stock/cxdc#NASDAQ">CXDC</a>) climbed 41.57% to $4.70. CXDC swung to a profit in the second quarter.

Wowjoint Holdings Limited (NASDAQ: <a class="ticker" href="/stock/bwow#NASDAQ">BWOW</a>) shares surged 28.21% to $2.50. BWOW reported a 228% y/y surge in its Q2 revenue.

Shengkai Innovations Inc (NASDAQ: <a class="ticker" href="/stock/valv#NASDAQ">VALV</a>) jumped 21.60% to $1.97. VALV named Albert Wong &amp; Co as its new independent registered public accounting firm.

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Morning Market Movers

Shengkai Innovations, Inc. (Nasdaq: <a class="ticker" href="/stock/valv#Nasdaq">VALV</a>) today announced that its auditor BDO China Li Xin Da Hua CPA Co., Ltd. resigned on August 4, 2011 because parties were unable to agree to BDO's proposed increase in their fee for conducting its 2011 audit.

BDO had proposed to increase its 2011 audit fee from $200,000 to $610,000, which management felt was too sizeable and unjustifiable.

The Audit Committee of the Company then appointed Albert Wong &amp; Co. as its new independent registered public accounting firm on August 4, 2011. AW was previously engaged as the independent registered public accounting firm for the Company for the years ended June 30, 2008 and 2009, and resigned on June 28, 2010.

Shengkai Innovations Appoints Albert Wong & Co. as New Auditor; Former Auditor Resigns   

Shengkai Innovations Trading Over 20% Higher on Heavy Volume

Shengkai Innovations Inc (NASDAQ: <a class="ticker" href="/stock/valv#NASDAQ">VALV</a>) climbed 26.34% to $2.59 at 9:46 am. VALV's trailing-twelve-month ROE is 172.33%.

NB&amp;T Financial Group Inc (NASDAQ: <a class="ticker" href="/stock/nbtf#NASDAQ">NBTF</a>) shares gained 19.79% to $23.00. NBTF's trailing-twelve-month operating margin is 24.01%.

Frequency Electronics Inc (NASDAQ: <a class="ticker" href="/stock/feim#NASDAQ">FEIM</a>) jumped 14.78% to $11.03. FEIM reported an 8% year-over-year increase in its FY11 revenue.

Universal Forest Products Inc (NASDAQ: <a class="ticker" href="/stock/ufpi#NASDAQ">UFPI</a>) shares surged 12.88% to $27.17. UFPI reported Q2 profit of $4.3 million.

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Shengkai Innovations Spiking Higher on Heavy Volume

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Top Misc. Fabricated Products Stocks to watch on 5/23/11- INS, LAWS, OFLX, PLPC, CVR, VALV, FSIN, HIHO, CR, SSD, KAMN, CAS< CIR, ATU, MLI, MASC…

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Shengkai Innovations (OTC:VALV) Stock, Quote.Headers.trade-ideas