Stocks stay steady
April 17 (SmallCapInvestor.com) –Stocks have consolidated their positions in midday trading today. In small cap action, shares of Wegener Corporation (Nasdaq: WGNR) are down due news of a quarterly loss, while biotechnology company Oncolytics Biotech Inc. (Nasdaq: ONCY) is up on news of an effective treatment for colon cancer.
At 1:43 PM the Russell 2000 had lost 3.90 points, or 0.47 percent, to 827.54. The Dow Jones Industrial Average was up 43.15 points, or 0.34 percent, to 12,763.61.
Shares of Natural Health Trends Corp. (Nasdaq: BHIP) are down $0.32, or 13.85%, to $1.99 on news the direct selling organization intends to conduct a private placement financing. The financing will consist of the sale of up to 1,631,000 shares of the Company's Series A Convertible Preferred Stock, par value $0.001 per share, at an expected price of $1.70 per share, the Dallas-based company said after Monday’s close. Natural Health Trends said it expects gross proceeds of about $2.8 million, which it will use as additional working capital.
Canadian biotechnology company Oncolytics Biotech is up following news its drug REOLYSIN is effective against colon cancer. According to data presented today to the annual meeting of the American Association of Cancer Research, tumors treated with a combination of the drugs REOLYSIN and gemcitabi were significantly smaller than tumors treated with just one of the drugs, Oncolytics said before the opening bell. Shares have added $0.42, or 21.54%, to $2.37.
Shares of digital solutions provider Wegener Corporation are sagging on news the Duluth, Ga.-based company reported a quarterly loss. Net loss for the quarter ended March 2 was $0.18 million, or $0.01 per share, compared with $1.1 million, or $0.09 per share during the same period a year earlier, Wegener said after Monday’s close. Analyst estimates were unavailable. Shares are down $0.04, or 3.07%, to $1.14.
In economic news, the price of oil is holding steady in the mid-$63 a barrel range
