Orlando, FL -- (SBWIRE) -- 09/25/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Kandi Technolgies Corp. (NASDAQ:KNDI), VIVUS, Inc.(NASDAQ:VVUS).
Kandi Technolgies Corp. (NASDAQ:KNDI) shares gained 18.47% to $8.34. The company on Sept. 23 announced that Zhejiang Kandi Vehicles Co. Ltd. ("Kandi Vehicles"), a wholly owned subsidiary of Kandi has completed the acquisition of certain assets for electric vehicle ("EV") production pursuant to an Assets Purchase Agreement (the "Agreement"), announced on March 4th between Kandi Vehicles and Zhejiang New Energy Vehicle System Co., Ltd. ("New Energy").
The purpose of acquisition is to satisfy the cooperation between Kandi and Geely Automobile Holdings Ltd. ("Geely") to establish a joint venture company of Zhejiang Kandi Electric Vehicles Co., Ltd. According to the JV Agreement, the registered capital for the JV Company is RMB1 billion (approximately $160 million) and each party will contribute 50% of the registered capital in cash and will each own 50% of the JV Company. The JV Company will acquire EV assets from Kandi and Geely in order to possess the necessary properties, assets and technologies to conduct its EV business.
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VIVUS, Inc.(NASDAQ:VVUS) shares declined 4.02% to $9.55. The company on Sept. 20 announced it has submitted to the European Medicines Agency (EMA) a request for scientific advice regarding use of a pre-specified interim analysis from the AQCLAIM cardiovascular outcomes trial (CVOT) to support the resubmission of the marketing authorization application (MAA) for approval in Europe of Qsiva™ for obesity under the centralized procedure. In order to accommodate advice from the European authorities, VIVUS anticipates that patient enrollment for the AQCLAIM study will commence in first quarter 2014.
Additionally, the company on Sept. 4 said new Chief Executive Officer Tony Zook has resigned because of health reasons. Seth H. Z. Fischer, formerly with Johnson & Johnson (JNJ), will replace Zook immediately, the Mountain View, California-based company said in a statement.
Is VVUS going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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