American Capital Sees Flurry After Sale (ACAS, GLW)

Posted in pre-market 
September 16th, 2009

American 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

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