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www.PicksThatMove.com: "Picks that move" Alerts, November 23, 2009: ABIO, IBAS, FNET, DDRX, FIF and EEE
(M2 PressWIRE Via Acquire Media NewsEdge) Picksthatmove.com Alerts include ARCA biopharma, Inc. (Nasdaq:ABIO); iBasis, Inc. (NASDAQ: IBAS); FortuNet, Inc. (Nasdaq:FNET); Diedrich Coffee, Inc. (Nasdaq: DDRX); Financial Federal Corporation (NYSE: FIF) and Evergreen Energy Inc. (NYSE Arca: EEE)
-- November 23, 2009 ARCA biopharma, Inc. (Nasdaq:ABIO) trading at $3.08 on a volume of 527,896 shares
In a press release on November 23, ARCA Receives FDA Fast Track Designation for Gencaro(TM) Development in Genotype-Defined Heart Failure Population
BROOMFIELD, Colo., Nov 23, 2009 ARCA biopharma, Inc. (Nasdaq:ABIO) today announced that the U.S. Food and Drug Administration (FDA) has designated as a Fast Track development program the investigation of Gencaro(TM), the Company's investigational, pharmacologically unique beta-blocker and mild vasodilator, for the reduction of cardiovascular mortality and cardiovascular hospitalizations in a genotype-defined heart failure population. The Company intends to submit a study protocol for review under the FDA's Special Protocol Assessment (SPA) process for the design of a clinical trial to assess the safety and efficacy of Gencaro in approximately 3,000 patients with chronic heart failure who have the genotype that appears to respond most favorably to Gencaro.
According to the FDA's Fast Track Guidance document, Fast Track programs are designed to facilitate the development and expedite the review of new drugs that are intended to treat serious or life-threatening conditions and that demonstrate the potential to address unmet medical needs.
About ARCA biopharma
ARCA biopharma is dedicated to developing genetically targeted therapies for heart failure and other cardiovascular disease. The Company's lead product candidate, Gencaro(TM) (bucindolol hydrochloride), is an investigational, pharmacologically unique beta-blocker and mild vasodilator being developed for heart failure. ARCA has identified common genetic variations that it believes predict individual patient response to Gencaro, giving it the potential to be the first genetically-targeted heart failure treatment. ARCA is collaborating with Laboratory Corporation of America to develop the companion genetic test for Gencaro. For more information please visit www.arcabiopharma.com.
-- November 23, 2009 iBasis, Inc. (NASDAQ: IBAS) trading at $2.98 on a volume of 2.08M shares
In a press release on November 23, KPN and iBasis Reach Agreement on Tender Offer
iBasis's Special Committee Recommends that iBasis Stockholders Accept KPN's Last and Final Offer of $3.00 per share in Cash
THE HAGUE, Netherlands & BURLINGTON, Mass., Nov 23, 2009 KPN and iBasis Agree to Dismiss All Claims in Delaware and New York Litigation KPN B.V. ("KPN") and iBasis, Inc. (NASDAQ: IBAS) ("iBasis") today announced that they have entered into a settlement agreement under which KPN will make a last and final increase of its offer for the outstanding shares in iBasis not otherwise held by KPN to $3.00 per share in cash. The Special Committee of iBasis's Board of Directors has unanimously approved the agreement and recommends that iBasis stockholders tender their shares in KPN's tender offer.
About KPN
KPN is the leading telecommunications and ICT service provider in The Netherlands, offering wireline and wireless telephony, internet and TV to consumers, end-to-end telecommunications and ICT services to business customers. KPN's subsidiary Getronics operates a global ICT services company with a market-leading position in the Benelux, offering end-to-end solutions in infrastructure and network-related IT. In Germany and Belgium, KPN pursues a multi-brand strategy in its mobile operations and holds number three market positions through E-Plus and BASE. KPN provides wholesale network services to third parties and operates an efficient IP-based infrastructure with global scale in international wholesale through iBasis.
About iBasis
Founded in 1996, iBasis (NASDAQ: IBAS) is a leading wholesale carrier of international long distance telephone calls and a provider of retail prepaid calling services and enhanced services for mobile operators. iBasis customers include KPN, KPN Mobile, E-Plus, BASE, TDC and many other large telecommunications carriers such as Verizon, Vodafone, China Mobile, China Unicom, IDT, Qwest, Skype, Telecom Italia, and Telefonica. In October 2007, iBasis acquired KPN Global Carrier Services to create one of the three largest carriers of international voice traffic in the world, and KPN became a majority stockholder of iBasis. The company carried approximately 24 billion minutes of international voice traffic in 2008(1). The Company can be reached at its worldwide headquarters in Burlington, Mass., USA at +1 781-505-7500 or on the Internet at www.ibasis.com.
-- November 23, 2009 FortuNet, Inc. (Nasdaq:FNET) trading at $1.68 on a volume of 342,063 shares.
In a press release out on November 23, Yuri Itkis Gaming Trust Proposes to Acquire Remaining Public Stake in FortuNet
Proposed Price of $1.70 Cash Per Share
LAS VEGAS, Nov 23, 2009 The Yuri Itkis Gaming Trust of 1993 (the "Trust") announced today that it intends to make a tender offer for all of the outstanding shares of Common Stock of FortuNet, Inc. (Nasdaq:FNET) not already owned by the Trust for $1.70 per share in cash. The offer price represents a premium of approximately 34% over the closing price of the shares on November 20, 2009, and a premium of approximately 28% above the average closing price of the shares for the 20 trading days immediately preceding November 20, 2009. Assuming the successful completion of the tender offer, the Trust intends to acquire the remaining shares not already owned by it through a "short form" cash merger at the same per share cash price paid in the tender offer.
ABOUT FORTUNET, INC.
According to its website, FortuNet, together with its wholly owned subsidiaries, Millennium Games, Star Bingo Holdings, LLC, and Star Bingo Supply, LLC, is engaged primarily in the business of designing, manufacturing, field maintenance of, and leasing electronic gaming and entertainment systems throughout North America. FortuNet derives substantially all of its revenues from the gaming industry in the United States and Canada.
-- November 23, 2009 Diedrich Coffee, Inc. (Nasdaq: DDRX) last at $33.00 a volume of 600,867 shares
In a press release out on November 23,Diedrich Coffee Evaluating Revised Offer From Peet's Coffee & Tea
Green Mountain Coffee Roasters Also Submits Bid
IRVINE, Calif., Nov 23, 2009 Diedrich Coffee, Inc. (Nasdaq: DDRX) today announced that, on the evening of Sunday, November 22, 2009, it received a revised offer from Peet's Coffee & Tea, Inc. (Nasdaq: PEET) offering to pay to Diedrich Coffee's stockholders a combination of $19.80 in cash and 0.321 of a share of Peet's common stock for each share of Diedrich common stock tendered and accepted in its exchange offer, representing total consideration of $32.00 per share based on Peet's closing price on November 20, 2009 of $38.00 per share. The stock component of the revised purchase price is based on a fixed exchange ratio, so the value of that component will increase or decrease with changes in the market price of Peet's common stock.
About Diedrich Coffee
Diedrich Coffee specializes in sourcing, roasting and selling the world's highest quality coffees. The company markets its three leading brands of specialty coffees, Diedrich Coffee, Coffee People and Gloria Jean's Coffees, through office coffee service distributors, restaurants and specialty retailers, and via the company's web stores. Diedrich Coffee is one of only four roasters under license to produce K-Cups for Keurig Incorporated's top-selling single-cup brewing system. For more information about Diedrich Coffee, call 800-354-5282, or go to www.diedrich.com, www.coffeepeople.com or www.coffeeteastore.com.
-- November 23, 2009 Financial Federal Corporation (NYSE: FIF) last at $27.16 on a volume of 2.72M shares
In a press release out on November 23, People's United Financial, Inc. to Acquire Financial Federal Corporation
Transaction Significantly Expands People's United's Equipment Finance Business
BRIDGEPORT, Conn. & NEW YORK, Nov 23, 2009 People's United Financial, Inc. (Nasdaq: PBCT), the holding company for People's United Bank, announced today a definitive agreement to acquire Financial Federal Corporation (NYSE: FIF) in a stock and cash transaction valued at approximately $738 million. Completion of the transaction is subject to customary closing conditions, including the approval of the shareholders of Financial Federal.
About Financial Federal Corporation
Financial Federal (financialfederal.com) is a financial services company providing collateralized lending, financing and leasing services nationwide to small and medium sized businesses in the general construction, road and infrastructure construction and repair, road transportation and refuse industries.
About People's United Financial, Inc.
People's United Financial, Inc. is the holding company of People's United Bank (peoples.com), the largest bank headquartered in New England. People's United Financial has assets of $21 billion, more than 440 ATMs and 300 branches. A diversified financial services company founded in 1842, People's United provides consumer, commercial, insurance, retail investment and wealth management and trust services to personal and business banking customers.
-- November 23, 2009 Evergreen Energy Inc. (NYSE Arca: EEE) trading at $0.36 on a volume of 3.05M shares
In a press release out on November 23, Evergreen Energy Engages Raymond James to Remarket Buckeye Industrial Mining Co.
DENVER, Nov 23, 2009 Evergreen Energy Inc. (NYSE Arca: EEE), a green energy technology solutions company, announced today that it has terminated further negotiations with a potential purchaser of its Buckeye Industrial Mining Co. subsidiary. The company has engaged the Investment Banking group of Raymond James & Associates, Inc. to remarket Buckeye and seek more advantageous terms for the company given improved market conditions in the coal industry and specific conditions at its Buckeye subsidiary. Raymond James was also retained to assist the company in pursuing certain financing options in connection with a potential Buckeye transaction.
About Evergreen Energy Inc.
Evergreen Energy Inc. (NYSE Arca: EEE) has developed two proven, proprietary, patented, and transformative green technologies: the GreenCert(TM) suite of software and services and K-Fuel(R). GreenCert, which is owned exclusively by Evergreen, is a scientifically accurate, scalable environment intelligence solution that measures greenhouse gases and generates verifiable emissions credits. K-Fuel technology significantly improves the performance of low-rank coals yielding higher efficiency and lowering emissions. Visit www.evgenergy.com for more information.
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