Big Losers (GMXR, SOMX, KITD, SWC, DLTR)
NEW YORK, October 12,2012 (MESHPRESS) –GMX Resources Inc (NYSE:GMXR) went down 13.57$% and closed at $0.58 on a traded volume of 2.86 million shares. The Company will hold a special meeting of the shareholders on November 29, 2012 to seek approval on the granting to the Board of Directors the discretionary authority to affect a reverse stock split in a range of not less than 1-for-5 shares and not more than 1-for-13 shares of the Company’s issued and outstanding common stock.
Will GMXR Continue To Move Lower or Is There Any Chance Of Rebound? Find out where GMXR is headed next with a FREE TREND ANALYSIS REPORT
Somaxon Pharmaceuticals Inc (NASDAQ:SOMX) decreased 13.14% and closed at $.228 on a traded volume of 1.41 million shares. The Board of Directors approved a 1-for-8 reverse stock split of its common stock and a decrease in the number of authorized shares of its common stock from 100,000,000 to 25,000,000 shares. The reverse stock split and the decrease in the number of authorized shares of common stock were authorized by Somaxon’s stockholders at a special meeting held on October 5, 2012.
Will Poor Earnings Continue To Put Pressure On SOMX Or It Find The Bottom? Find out EXACTLY where SOMX headed with a NEW TREND REPORT
KIT digital Inc (NASDAQ:KITD) moved down 10.17% and closed at $2.12 on a traded volume of 1.90 million shares. Last month, the Company said that it is working in tight collaboration with Liberty Global Inc for the launch of the Horizon TV Online service. KIT digital designed and developed the delivery platform and will be providing the managed services.
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Stillwater Mining Company (NYSE:SWC) plunged 9.08% and closed at $11.02 on a traded volume of 11.05 million shares. The Company plans to offer $300-million total principal amount of convertible senior notes due 2032. The Company expects to grant the underwriters of the notes a 30 day overallotment option to purchase up to an additional $45 million total principal amount of the notes.
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Dollar Tree Inc (NASDAQ:DLTR) slipped 7.74% and closed at $43.28. The stock was down after the Company said it will post third-quarter sales at the lower end of its earlier forecast because of cautious consumer spending and higher gas prices.
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