Uranium Resources, Inc. (NASDAQ: URRE) stock fell 0.38% to $3.97. The company, last week, announced that its Board of Directors has approved a 1-for-10 reverse stock split of its common stock. According to a release, on January 14, 2013, the Company announced shareholder approval to conduct a reverse stock split of its issued and outstanding common stock by a ratio of not less than 1-for-5 and not more than 1-for-15. The primary purpose of the reverse split was to bring URI into compliance with NASDAQ's $1.00 minimum bid price requirement.
Cirrus Logic, Inc. (NASDAQ: CRUS) shares decreased 9.05% to $27.23. On Jan. 18, the company said it is considering adding more office space to its downtown Austin presence, but plans for an expansion to the north of the company’s new headquarters have been tabled.
Additionally, CRUS stock was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report released on Jan. 18. They currently have a $34.00 target price on the stock.
Altera Corporation (NASDAQ: ALTR) shares dropped 4.53% to $33.56 in the early hour after the company reported a fourth quarter profit of $120.8 million, or 37 cents a share, down from $157.5 million, or 49 cents a share, a year earlier. Analysts were expecting a per-share profit of 39 cents a share. Revenue shrank 4% to $439.4 million, shy of Altera's downbeat December guidance of $445.5 million to $470.3 million.
Fusion-IO, Inc. (NYSE: FIO) shares declined 4.28% to $20.58 in the morning hour. FIO’s stock was upgraded by equities researchers at JPMorgan Chase from a “neutral” rating to an “overweight” rating in a report issued on Jan. 14. The firm currently has a $30.00 target price on the stock, up from their previous target price of $28.50.
Vringo, Inc. (NYSEAMEX:VRNG) stock decreased 4.01% to $3.11. The 52 week trading range for the company is $0.68 - $5.73. The shares of the company soared 275% in the last one year. The company is a development-stage company. The Company is engaged in developing software for mobile phones. It provides a platform, which allows users to create, download and share mobile entertainment content in the form of video ringtones for mobile phones.
Opko Health Inc. (NYSE:OPK) shares declined 5.06% to $6 after the company yesterday announced that it plans to sell approximately $150 million aggregate principal amount of convertible senior notes due 2033 (the "Notes") in a private offering. The Notes will be OPKO's senior unsecured obligations and will rank equally with all of OPKO's other existing and future senior unsecured debt. The interest rate, conversion rate and other terms of the Notes will be determined at the time of pricing of the offering. The planned offering of Notes is subject to market conditions and other factors and no assurance can be given that the offering will be completed.
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