Among the companies with shares expected to actively trade in
Friday's shortened session are KIT digital Inc. (KITD), Research In
Motion Ltd. (RIMM) and OCZ Technology Group Inc. (OCZ).
The former chief executive of KIT digital Inc. has accused the
company of seeking to "scapegoat prior management" for its current
problems and said he is prepared to lead a group to buy KIT for
$193 million, an offer that comes two days after the software
company said it would restate financial results due to accounting
errors. KIT's shares fell 53% to 94 cents in recent premarket
trading.
National Bank sees good things ahead for BlackBerry-maker
Research In Motion when it launches its much-anticipated BlackBerry
10 line of smartphones. National, which bumped up its target price
to $15 from $12, suggests buying RIM stock ahead of the launch,
when it expects shipment estimates to climb. The firm upped its
fiscal 2014 shipment view to 35.5M units from 31.6M, helped by an
extra month of BB10 product availability. National says RIM
management seems to be preparing for February availability, which
it says is a month earlier than most analysts expected. Research In
Motion's shares climbed 12% to $11.53 in recent premarket
trading.
MAP Pharmaceuticals Inc. (MAPP) said its New Drug Application
resubmission for its orally inhaled migraine drug, Levadex, for the
potential acute treatment of migraine in adults has been accepted
for filing by the U.S. Food and Drug Administration. Shares climbed
8.4% to $13.89 in recent premarket trading.
Data-storage provider OCZ Technology disclosed it is under
investigation by the Securities and Exchange Commission, after the
company recently reported that it is reviewing its financial
statements. Shares fell 8.4% to $1.09 in recent premarket
trading.
CNH Global NV (CNH) investors took heart after Fiat Industrial
SpA (FNDSF, FI.MI) confirmed Thursday that a committee of directors
for CNH reacted favorably to its sweetened offer to buy out the
company's minority shareholders, adding that a final merger
agreement may be reached within days. Shares popped 5.5% to $50.11
in recent premarket trading.
Pluristem Therapeutics Inc. (PSTI) shares climbed after the U.S.
Food and Drug Administration acknowledged Wednesday that aplastic
anemia is a rare disease, confirming that potential treatments for
the condition are eligible for orphan drug status. Israel-based
Pluristem--which develops placenta-based cell therapies--in August
applied to the FDA for orphan drug status for its placental
expanded cells treatment for aplastic anemia. Shares rose 5.4% to
$3.50 in recent premarket trading after climbing 4.7% during
Wednesday's regular session.
Watch list:
BGC Partners Inc. (BGCP) is offering up to 20 million shares to
raise funds for general corporate purposes including possible
acquisitions and broker hires.
Citigroup Inc. (C) unveiled offers to purchase up to $18.44
billion principal amount of 12 series of outstanding notes, a move
the bank said reflects its continued robust liquidity position.
General Motors Co. (GM) clinched a $4.2 billion deal Wednesday
to purchase Ally Financial Inc.'s European, Latin American and
China operations, doubling the size of the auto maker's lending
arm.
Consumer-products maker Reckitt Benckiser Group PLC (RBGPY,
RB.LN) signed a $1.4 billion deal to acquire Schiff Nutrition
International Inc. (SHF) on Wednesday, outbidding drug and chemical
firm Bayer AG (BAYRY, BAYN.XE).
-Write to Saabira Chaudhuri at
saabira.chaudhuri@dowjones.com
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