Small cap
stocks making big moves on Monday, February 23, 2015 (as of 4 pm EST), as
reported by Hassan Malik, SmallCapPower.com
Digital Ally Inc. (NASDAQ: DGLY)
shares gained 11% to $12.23 on Monday after the U.S. General Services
Administration awarded the “GSA Status” to the advanced video surveillance
manufacturer. The GSA establishes long-term, government-wide contracts with
commercial vendors in order to streamline and standardize the process of
procuring products and services for the entire federal government. Digital
Ally’s inclusion as a GSA Schedule 84 vendor enables all government agencies to
obtain hardware and software products, support, training, and warranty services
at approved pricing and with authorized license terms from a trusted vendor.
As well,
shares of Polypore International Inc.
(NYSE: PPO)
shot up 13% to $59.70 after the technology filtration company announced that it
has signed a definitive agreement with Japan-based Asahi Kasei Corp. regarding
the sale of the company. Accordingly, Asahi will acquire Polypore International
for $60.50 per share in cash through a U.S. subsidiary. “The per share
consideration represents and enterprise value for the company of approximately
$3.2 billion and a premium of approximately 24% over the volume weighted
average per share price for the 20 trading days up to and including February
20, 2015,” Polypore said in a statement.
Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI)
stock, meanwhile, sank more than 16% to $6.28 after a U.S. District Court ruled
Friday that patent claims of its Fusilev cancer drug are invalid. The U.S.
District Court for the District of Nevada stated that claims 1 and 2 of
Spectrum’s ‘829 patent that covers Fusilev are invalid. Spectrum had previously
sued generic drug-maker Sandoz for allegedly infringing on the claims.
