News Recap (Impax Laboratories Inc, Sandridge Mississippian Trust, Affymax, Zagg Inc)

Lakeway, TX -- (SBWIRE) -- 03/06/2013 -- Bestdamnpennystocks, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-

Impax Laboratories Inc. (NASDAQ:IPXL) plunged 26% and closed at $14.80 on a traded volume of 11.70 million shares. The Company announced that the FDA completed its re-inspection of the company's Hayward manufacturing facility in connection with the Form 483 issued in March last year. At the conclusion of the inspection, the FDA issued a new Form 483 with twelve observations, three of which are designated as repeat observations from inspections that occurred prior to the warning letter.

How Should Investors Trade IPXL After The Recent Volatile Moves? Find Out Here

Sandridge Mississippian Trust I (NYSE:SDT) declined 11.49% and closed at $12.87 on a traded volume of 2.12 million shares. Wunderlich lowered the rating on Sandridge Mississippian Trust I to sell from hold. The target price is set at $13. SandRidge Mississippian Trust I is a statutory trust. The Trust was created to acquire and hold the Royalty Interests for the benefit of Trust unit holders. SandRidge conveyed to the Trust the Royalty Interests in specified oil and natural gas properties in the Mississippian formation in Alfalfa, Garfield, Grant, Major and Woods counties in Oklahoma.

Is SDT Showing Any Sign of Buy At The Current Market Price? Get Our Free Trend Analysis Here

Affymax, Inc. (NASDAQ:AFFY) went down 6.35% and closed at $2.36 on a traded volume of 4.80 million shares. The Shareholders Foundation, Inc. announced that a lawsuit was filed on behalf of purchasers of Affymax, Inc. common stock during the period between December 8, 2011 and February 22, 2013 over alleged violations of Federal Securities Laws by Affymax, Inc. in connection with certain allegedly false and misleading statements.

Can AFFY Rebound After The Recent Slump and Investors Can Make Money? Find Out Here

Zagg Inc. (NASDAQ:ZAGG) went down 5.50% and closed at $7.05 on a traded volume of 1.12 million shares. Recently, the Company released fourth quarter results. Net sales for the fourth quarter of 2012 increased 30% to $87.5 million. Gross profit for the fourth quarter was $38.6 million or 44.1% of net sales versus $31.4 million or 46.5% of net sales in the fourth quarter of the prior year. Operating income for the fourth quarter was $5.3 million. Net income attributable to stockholders for the fourth quarter of 2012 was $0.2 million or $0.01 per diluted share as compared to net income attributable to stockholders of $9.9 million or $0.32 per diluted share in the fourth quarter of 2011.

Is ZAGG Ready To Move Back To New Highs This Year? Find Out Here

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