Today’s Early Gainers: LipoScience Inc (LPDX), Chinanet Online (CNET), Radiant Logistics Inc (RLGT)

Posted In Business, Technology - By Matt Schrock On Thursday, September 25th, 2014 With 0 Comments

Dallas, Texas 09/25/2014 (ustradevoice) – LipoScience Inc (NASDAQ:LPDX) has agreed to be purchased by Laboratory Corp (LabCorp) for $85 million. The deal values the company at $5.25 per share, which is 65% premium of the closing price Wednesday. Shares of LipoScience have not traded above $5.25 per share mark in more than a year, Factset revealed. LipoScience went public at $9 per share in January last year. The acquisition is expected to help LabCorp to expand its presence in the personalized diagnostic tests, which is the domain of LipoScience. The Board of LipoScience Inc (NASDAQ:LPDX) has already approved the acquisition offer and have recommended to their shareholders to do the same. If all goes well, the acquisition should conclude in 4Q.

Chinanet Online Holdings Inc (NASDAQ:CNET) continues to ride high on the back of a press release that it issued last week just when Alibaba Group (BABA) was about to go public. The news release provided information about CNET is trying to expand its digital advertising business through collaboration with big names like Alibaba. The mention of Alibaba and its successful IPO this week appear to have brought fresh excitement in Chinanet Online (CNET). However, it has been mentioned in some quarters that Chinanet Online Holdings Inc (CNET) may not sustain its latest gains. That means that the stock could go back to the $1 region that it was in previously once the impact of the news release subsides.

Radiant Logistics Inc (NYSEMKT:RLGT) reported 4Q2014 results that surpassed the estimates. Shares of the $118 million freight forwarding company jumped to a new 12-month high of $3.92 early Thursday. The company reported revenue of $102.3 million, yet analysts on the average expected revenue of $86.3 million for the quarter. As if that was not enough, the company announced net income of $1.6 million, or $0.04 per share, which was better than the consensus estimate of $0.02 per share for the quarter. The positive 4Q is responsible for the direction of the stock in today’s session.

About the Author

- Matt Schrock received Bachelor of Arts in Mass Media Communications from Penn State University.

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