Shares of YRC Worldwide (NASDAQ: YRCW) plunged more than 22% Thursday after the troubled trucking company disclosed in a regulatory filing that it could lose its listing on the Nasdaq if it carries out an exchange offer as part of its restructuring deal designed to keep it from filing bankruptcy. The company said that it plans to ask for a waiver under a financial viability exception, but it may not get that waiver.
Molycorp, Inc. (NYSE: MCP) rallied more than 4% after China's Ministry of Commerce announced that it will impose new export quotas for rare earths to include iron alloys containing more than 10% rare earths. Previously the export quota were only on pure rare earths metals. China said the move would "more effectively protect the exhaustible materials and the environment". Separately, China said it will consolidated 80 percent of its rare earth production over the next few years among the three biggest companies.
Shares of Big Lots Inc. (NYSE: BIG) plunged more than 10% after the Wall Street Journal reported that the company decided against selling itself after bids from private equity firm came in below expectations.
PURE Bioscience, Inc. (NASDAQ: PURE) soared more than 25% after the creator of the patented silver dihydrogen citrate (SDC) antimicrobial, today announced preliminary in vitro laboratory results demonstrating SDC’s effectiveness against biofilm in tests conducted by the University of Medicine & Dentistry of New Jersey.
Thermo Fisher Scientific Inc. (NYSE: TMO) rose more than 3% company agreed to buy Swedish diagnostics company Phadia AB for 2.47 billion euros ($3.5 billion) to grow in testing for allergies and autoimmune diseases. Thermo said the accord will add immediately to adjusted profit and contribute as much as 30 cents a share next year.
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