New York, NY – March 28, 2012 – www.InvestorIdeas.com, a global investor research portal for independent investors, reports on top percentage gainers on the NASDAQ for Tuesday March 27th. The Nasdaq Composite fell 2.22 (0.07%) to close at 3,120.35.
pSivida Corp. (NASDAQ: PSDV) continued to move higher and added another 36.45% to close at $2.50 after gaining over 12% in the previous trading session. The stock has been moving on expectations that Alimera Sciences’ (Nasdaq: ALIM) ILLUVIEN would be approved in about seven European countries by the end of the quarter. pSivida would receive royalties on ILLUVIEN, about 20% of net profits which will be determined on a country-by-country basis.
Southern Community Financial Corp. (NASDAQ: SCMF) spiked 35.07% to close at $2.65 . Capital Bank Financial Corp. has agreed to acquire 100% of the stock of Southern Community Financial Corporation for $2.875 per share. SCMF is the parent of Southern Community Bank and Trust, a bank with $1.5 billion in assets.
ZHONGPIN INC. (NASDAQ: HOGS) Board of Directors received a proposal from its Chairman and Chief Executive Officer, Mr. Xianfu Zhu, who owns approximately 17.5% of the Company’s common stock. According to the proposal, Mr. Zhu wish to acquire all of the outstanding shares of the company’s common stock not owned by him in a going private transaction at a proposed price of $13.50 per share in cash. As a result, shares of the company soared 21.82% to $11.22 on an unusual volume of 3.91 million shares in the previous trading session.
ISTA Pharmaceuticals, Inc. (NASDAQ: ISTA) shares closed at $9.04, climbing 7.88% . Bausch + Lomb have signed an agreement to acquire ISTA for $9.10 per share in cash, or a total of approximately $500 million. The transaction is expected to close in the second quarter of 2012. The companies will continue to operate independently until completion of the transaction.
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