Tuesday, July 3, 2012

Tuesday’s biggest gaining and declining stocks

Tuesday’s biggest gaining and declining stocksAtlanta, GA 7/3/12 (StreetBeat) -- The following companies made notable moves in U.S. trade on Tuesday:


Fortuna Silver Mines Inc. FSM rose 6.1% after the company said it discovered high-grade gold and silver mineralization at the Tlacolula project in Mexico. The company said the discovery marks a “significant benchmark” in its exploration program.

MModal Inc. MODL jumped 8.6% after it said it’s going private through a buyout deal with One Equity Partners valued at about $1.1 billion. Terms call for One Equity Partners, the private investment arm of J.P. Morgan Chase & Co. JPM +0.21% , to pay $14 a share cash for all outstanding shares of Franklin, Tenn.-based MModal, a provider of clinical documentation services for the health-care industry. The buyout price represents an 8.3% premium over the Monday closing price for MModal shares.

Nanosphere Inc. NSPH shares jumped 25% after Jefferies upgraded the biotech company to buy from hold. Analysts cited positive expectations for a blood stream infection test, which was recently approved by the U.S. Food and Drug Administration.


Microsoft Corp. MSFT dipped 1.5% after it said it’ll report a non-cash, non-tax-deductible goodwill asset impairment charge of $6.2 billion in connection with its 2007 acquisition of aQuantive Inc. Microsoft acquired aQuantive in August 2007 for $6.3 billion. The goodwill impairment charge will be reported in the company’s online services division.

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