Tag - Txco

Noble International (Nasdaq:NOBL), Susser Holdings Corp. (Nasdaq:SUSS) and TXCO Resources Inc. (Nasdaq:TXCO) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.         

Also included among the results: McCormick & Schmick's Seafood Restaurants Inc. (Nasdaq:MSSR), Medifast Inc. (Nasdaq:MED), ENGlobal Corp. (Nasdaq:ENG), Republic Airways Holdings Inc. (Nasdaq:RJET), Mediacom Communications Corp. (Nasdaq:MCCC) and 1-800-Flowers.com Inc. (Nasdaq:FLWS). 

Here are the biggest percentage gainers among small caps:     

TXCO Resources Inc. (Nasdaq: TXCO) has signed an agreement to drill in southwest Texas, the oil gas exploration company announced before the opening.

San Antonio-based TXCO has entered into a joint exploration agreement with EnCana Oil & Gas Inc. to drill selected locations in EnCana’s Maverick Basin block in Southwest Texas. EnCana Oil & Gas is an indirectly wholly owned subsidiary of Canadian natural gas producer EnCana.

According to the terms of the agreement, TXCO will have access to approximately 250,000 gross acres in the Maverick Basin and has agreed to drill three horizontal wells before July 31, 2008. EnCana will have a 50% working interest in the wells and in 1,280 acres around each well. Additionally, TXCO will have the option of drilling additional wells prior to July 31, 2009.

“This new joint exploration agreement enhances our continuing relationship with our partner, and provides TXCO the ability to earn a significant portion of the interests in the deeper horizons on 250,000 acres,” said James Sigmon, CEO, president and chairman, in a statement.

TXCO also has interest in western Texas, where it acquired drilling rights in the summer of 2006, as well as in Oklahoma and in the onshore Gulf Coast region.

At 3:41 p.m. ET, TXCO Resources (TXCO) shares had gained $0.95, or 10%, to $10.41. The 52-week high is $14.62, established on Dec. 14, 2006. The 52-week low of $8.46 was touched on Sept. 26.

Allos Therapeutics, Inc. (Nasdaq: ALTH) reported its clinical trial for Efaproxyn failed to show that the drug improved survival in women with breast cancer that spread to the brain.

EPIX Pharmaceuticals, Inc. (Nasdaq: EPIX) announced that it has received a negative response from the FDA regarding the company's appeal for immediate approval of Vasovist, a treatment used to diagnose vascular disease.

Syntax-Brillian Corp. (Nasdaq: BRLC) is launching its new 65” LCD high-definition television today.

Vical Inc. (Nasdaq: VICL) reported that preliminary late-stage trial results showed a drug candidate successfully treated the blood flow disease ischemia by increasing the size of blood vessels.

Analyst William Ho raised his rating on Acorda Therapeutics Inc. (Nasdaq: ACOR) to “buy” from “neutral.”

The following are the most actively traded companies in Tuesday pre-market trading among those with market capitalizations under $500 million:

Shares in Bioenvision, Inc. (Nasdaq: BIVN) are trading heavily in pre-market activity on news the New York City-based biopharmaceutical company agreed to be acquired by Genzyme Corp. (Nasdaq: GENZ). Genzyme Corp. announced Tuesday morning it agreed to buy Bioenvision for $5.60 per share, or approximately $345 million in cash. The offer is 6.7% above Friday’s closing price, but only $0.01 above Tuesday’s closing price. By purchasing Bioenvision, Genzyme will gain exclusive rights to the leukemia drug clofarabine. Genzyme said in a statement it is looking to broaden the use of clofarabine, which is used to treat children with acute lymphoblastic leukemia who have had relapses or failed other treatment.

In pre-market trading, shares in Stratagene Corp. (Nasdaq: STGN) are down $0.01 to $10.84 on Tuesday evening news the company received a notice of a writ of summons filed by Applera Corp. (Nasdaq: ABI). Applera, the Norwalk, Conn.-based biotechnology company, alleges Stratagene, the La Jolla-Calif.-based biotechnology company, infringed upon Applera’s patents in The Netherlands, France and other European countries, according to StreetInsider.com.

Cell Therapeutics, Inc. (Nasdaq: CTIC) shares are down $0.10 to $4.92 in pre-market trading. The Seattle-based developer of cancer-fighting drugs announced after the close of trading on Tuesday it will be making a presentation about the lung cancer drug Xyotax at the 43rd American Society of Clinical Oncology Annual Meeting, being held June 1-5 in Chicago.

The following are the most actively traded companies in pre-market trading among those with market capitalizations under $500 million: