Small Cap News Movers for 6/16/09

Alexza Pharmaceuticals, Inc. (NASDAQ: ALXA) announced that it has exercised its option to purchase all of the equity of Symphony Allegro. The purchase of Symphony Allegro, which is subject to Alexza stockholder approval, is anticipated to close in Q3 2009. Once closed, Symphony Capital will own approximately 23% of the total Alexza Common Stock outstanding. The company will also have the right to nominate one director to the Alexza Board of Directors, as long as its ownership exceeds more than 10% of the total outstanding Common Stock. The stock closed at $2.60, up 51.16%, on 3,443,973 traded shares.

 

EMCORE Corporation (NASDAQ: EMKR) announced that it has been awarded a contract to manufacture, test, and deliver solar panels for NASA's Global Precipitation Measurement spacecraft. The contract, valued at approximately $5 million, will be managed by MEI Technologies, Inc. for the NASA Goddard Space Flight Center (GSFC). Christopher Larocca, Chief Operating Officer of EMCORE, stated, "This award reaffirms EMCORE's position as the leading solar panel supplier for space missions.” The stock closed at $1.43, up 16.26%, on 13,188,013 traded shares.

 

STEC, Inc. (NASDAQ: STEC) today raised its guidance for the second quarter of 2009. The Company expects to report Non-GAAP diluted earnings per share in the range of $0.32 to $0.36, versus the previous guidance of $0.20 to $0.22 per diluted share announced on May 11, 2009. The increased Non-GAAP diluted earnings per share and revenue guidance are primarily the result of increases in the Company's ZeusIOPS sales which now are estimated to exceed $55 million during the second quarter of 2009. The stock closed at $22.88, up 26.97%, on 10,411,202 traded shares.