Benzinga's Small Cap Movers for Tuesday November 27, 2012
Below are highlights from Benzinga's daily coverage of small cap securities making big moves:
Shares of Coffee Holding (NASDAQ: JVA), the Staten Island, NY manufacturer, roaster, packager, marketer, and distributor of roasted and blended coffees, rose 1.5% Tuesday on average volume and then rose 9% after-hours.
Coffee Holdings shares moved in sympathy with Green Mountain Coffee Roasters (NASDAQ: GMCR), whose shares rose 25% after-hours on a solid earnings beat and raised guidance.
Coffee Holding reports earnings on January 21, 2013.
Coffee Holding closed at $7.01 on Tuesday and traded at $7.64 after-hours.
Shares of Immersion Corporation (NASDAQ: IMMR), the San Jose, CA provider of haptics technology, rose 34% Tuesday on 12 times average volume.
Immersion Corporation announced Tuesday it entered into a settlement and license agreement with Google, Inc. and Motorola Mobility LLC, resolving the patent infringement litigation brought by Immersion against Motorola. The litigation was initiated based on Motorola's various uses of a simple form of haptic effects in its mobile devices, sometimes referred to as Basic Haptics.
Under the settlement and license agreement, Immersion is receiving compensation for prior shipments of Motorola devices containing Basic Haptics technology, the parties have agreed to a license relating to future shipments of Motorola devices with Basic Haptics, and have resolved certain issues with respect to Google-branded smartphones containing Basic Haptics. The agreement does not extend to other manufacturers' handsets that use the Android operating system. As a result of the settlement, Immersion will dismiss all pending litigation between it and Motorola.
Immersion Corporation closed at $6.32 on Tuesday.
Shares of Zalicus (NASDAQ: ZLCS), the Cambridge, MA biopharmaceutical company, rose 19% Tuesday on twice average volume.
Zalicus announced Tuesday that Z160, its first-in-class, oral, state-dependent, selective N-type calcium channel (Cav 2.2) blocker in Phase 2 clinical development for chronic neuropathic pain, has been chosen by Windhover as one of the Top 10 Neuroscience Projects to Watch. Mark Corrigan, MD, CEO of Zalicus, will provide a summary of Z160 during his presentation at the Windhover 2012 Therapeutic Area Partnership meeting being held at the Westin Copley Place Boston at 1:30 p.m. ET on Thursday, November 29, 2012 during the Top 10 Neuroscience Projects to Watch session.
Zalicus closed at $0.71 on Tuesday.
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