Star Scientific (Nasdaq:STSI) makes tobacco products and tobacco curing processes that reduce the amount of carcinogens in the final product. The company recently announced that it had received a letter regarding its ongoing patent infringement case with R.J. Reynolds (Nasdaq:RAI). Shares of Star rose over 27% today most likely due to the letter potentially having news that favors Star Scientific in the case.
Genta (Nasdaq:GNTA) is a biopharmaceutical company which researches DNA and RNA medicines with the goal of finding new ways to treat cancer and similar diseases. The company recently announced that it will sell an additional 20 million shares on top of the 134 million shares that are currently outstanding. Investors where not happy to hear this and Genta’s share price dropped over 27%.
Intergraph (Nasdaq: INGR) specializes in producing software which is excellent for various construction and geography projects. On Friday the company recieved a buyout offer to buy the company at an 18% premium. The offer came from a few investment groups, the biggest being Hellman & Friedman LLC and Texas Pacific Group. The offer also calls for current stockholders to recieve $44/share.