Pre-market: NeoPharm streamlines
Shares of Waukegan, Ill.-based biopharmaceutical firm NeoPharm, Inc. (Nasdaq: NEOL) are in positive territory after news the company will reduce its workforce by 42% and make management changes. The stock is up $0.03, or 1.82%, to $1.68.
North Billerica, Mass.-based Internet infrastructure equipment manufacturer Avici Systems Inc. (Nasdaq: AVCI) is in negative territory after announcing after Wednesday’s close that it will discontinue developing its currently profitable core router so that it can focus on a new growth area. Shares are down $0.01, or 0.07%, to $13.54.
Aliso Viejo, Calif.-based Smith Micro Software, Inc. (Nasdaq: SMSI), a wireless communication software developer, is down despite news this morning that it has begun shipment of its digital media software tool MediaRECOVER. Shares are down $0.92, or 4.46%, to $19.73.
Shares of real estate investment trust Ashford Hospitality Trust, Inc. (NYSE: AHT) are flat despite news the Dallas-based company’s follow-on public offering of 42.5 million common shares was priced at $11.75 a share, below Wednesday’s closing price of nearly $12. Shares are trading at $12.
Mississauga, Ore.-based energy solutions developer Hydrogenics Corporation (Nasdaq: HYGS) is among the winners following news it has received nine new orders for a total value of approximately $1 million. Shares are up $0.01, or 0.32%, to $0.93.
Shares of Taiwanese holding company Silicon Motion Technology Corporation (Nasdaq: SIMO) are trading higher following news it has signed a definitive agreement to acquire Future Communications IC Inc., a South Korean radio frequency integrated circuits designer, for $90 million. Shares are up $0.13, or 0.62%, to $21.20.
