American Capital Sees Flurry After Sale (ACAS, GLW)
Posted in pre-marketAmerican Capital Ltd. (NASDAQ: ACAS) is surging forward and onward this morning after Corning Incorporated (NYSE: GLW) announced that it has acquired all the shares of Axygen BioScience, Inc. and its subsidiaries from American Capital for approximately $400 million in cash. This is after ACAS already announced some portfolio sales this week, but this is a new release from Corning this morning. At 8:50 AM EST we have ACAS trading up sharply by 19% at $3.05 on over 545,000 shares of stock. Average volume here is just over 5 million shares, but this will be one to watch for big price-volume alerts as it is a low-priced financial stock that has been battered and tattered during the private equity bubble popping. The 52-week high here is $28.49 just for an example. -JON OGG
VS Investor RSS Feed