Every public company loves to put out good news and see the reflection in its stock price. The following four companies released positive news of some kind today or late yesterday and then watched as their stock prices closed very strong.Shares of Terax Energy Inc. (OTCBB: TEXG) were up $1.01, or 68 percent, to $2.50 on volume of 675,920 Friday morning after the company announced Westar Oil Inc. will acquire Terax Energy with a share exchange agreement. Westar shares are valued at $24.50 per share, Terax shares are valued at $6.75 per share. The exchange will be effective June 21, 2007.
Moving on volume of 32,630, shares of Chang-On International Inc. (OTCBB: CAON) were up 31 cents, or 45 percent, to $1.00 early Friday morning. Chang-On’s subsidiary Harbin Hongbo Environment Protection Material LTd. announced the release its Investor Fact sheet, detailing its management team, company overview as well as recent developments.
Shares of Viewpoint (Nasdaq: VWPT) climbed 13 percent yesterday, settling at its current $1.20 as of this morning. The company announced yesterday it has regained compliance with the Nasdaq as its stock has remained over $1.00 for at least 10 consecutive business days. The company said the notification form the The Nasdaq Stock Market gives the company “tremendous opportunity” as it carries on with business plans.
Inovio Biomedical Corp. (AMEX: INO) shares rose 17 cents, or 6 percent, to $2.98 on volume of 215,710 this morning. Today the company announced its partner, Vical Inc., reported positive interim safety and tolerability data on 18 subjects for its ongoing Phase I clinical trials. The trials revolve around Inovio’s electroportation technology treating tumors of plasmid DNA. The data was presented at the annual meeting for the American Society of Clinical Oncology.