Tuesday, April 26, 2011

Hot Stocks Of The Day: VRTX, GFRE, REDF, WTI, SMOD

Shares of the following companies are having unusual moves in U.S. trading.

Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) surged more than 5% after the Food and Drug Administration said that a highly anticipated hepatitis C drug from Vertex Pharmaceuticals successfully treats the majority of patients with the virus in less time than older medicines that have been used for 20 years.

Gulf Resources, Inc. (NASDAQ: GFRE) after a Seeking Alpha article by Glaucus Research alleged that a rival, privately-held Chinese conglomerate owned by GFRE’s chairman and founder is actually the legal owner of GFRE’s factories and operating assets. 

Rediff.com India Ltd. (NASDAQ: REDF) soared more than 23% after the company unveiled its group deals service, named Rediff Deal Ho Jaye!, offering consumer an opportunity to discover new local services at discounted prices.

W&T Offshore Inc. (NYSE: WTI) jumped more than 16% after the company announced that it has acquired West Texas Permian Basin oil acreage from private sellers for $366 million. Included in the purchase are about 21,900 gross leasehold acres with proved reserves of about 27 million barrel equivalents, the Houston-based oil and gas company said in a press release.

SMART Modular Technologies Inc. (NASDAQ: SMOD) rallied more than 12% after the company agreed to be taken private by buyout firm Silver Lake Partners in a cash deal that values the memory chipmaker at about $645 million.

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