Small
cap stocks making big moves on Tuesday, May 20, 2014 (as of 4 pm EST)
NewLead Holdings Ltd. (NASDAQ: NEWL)
shares powered 70% higher to $3.31 on volume of more than 53.7 million shares
Tuesday after the vertically integrated shipping, logistics and commodity
company announced that its eco-type handysize vessel, Newlead Albion, had
been delivered to the NewLead fleet. The vessel has capacity of 32,318
dwt. The company said the Newlead Albion is expected to generate $2
million EBITDA per year, assuming $1.73 million yearly OPEX.
As well,
shares of Tasman Metals Ltd. (NYSE MKT:
TAS) slipped 17% to $1.06 as the mineral development company focused on
critical metals said it and Flinders Resources have decided not to proceed with
the previously disclosed potential merger negotiations.
Aeroflex Holding Corp. (NYSE: ARX),
meanwhile, reported that it has agreed to be acquired by Cobham plc for $10.50
per share in cash, or a total consideration of approximately $1.46 billion,
including the assumption of Aeroflex’s net debt of $540 million. Aeroflex stock
popped 25% to $10.42.
Finally,
Ophthotech Corporation (NASDAQ: OPHT)
shares jumped 25% to $39.16 after the biopharmaceutical company announced that
it has entered into an ex-US licensing and commercialization agreement with
Novartis Pharmaceuticals to focus on the treatment of wet age-related macular
degeneration, or AMD. Potential payments to Ophthotech under the agreement
could total over $1 billion in upfront and milestone payments, not including
future royalties.
