Lakeway, TX -- (SBWIRE) -- 02/21/2013 -- 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:-
Harvest Natural Resources, Inc. (NYSE:HNR) shares plunged 40.50% to $5.45. The company yesterday announced the Share Purchase Agreement (SPA) between PT Pertamina (Persero) and HNR Energia B.V., a wholly owned subsidiary of Harvest, for the purchase of Harvest's interests in Venezuela for $725 million has been terminated as a result of the Government of Indonesia, in capacity as sole shareholder of PT Pertamina (Persero), voting not to approve the transaction. The SPA, announced on June 21, 2012, the approval of the Government of the Bolivarian Republic of Venezuela and a majority of Harvest's stockholders.
How Should Investors Trade HNR After The Latest Report? Find Out Here
Millennial Media, Inc. (NYSE:MM) shares declined 37.54% to $8.95 after the company announced that it has signed a definitive agreement to acquire San Francisco-based Metaresolver, a privately held mobile media buying and targeting platform, in an all-cash transaction. The closing of the acquisition is subject to the satisfaction of various customary closing conditions.
Additionally, the company yesterday reported a fourth quarter profit of $2.6 million compared with a year-earlier loss of $1.2 million. On a per-share basis, earnings were 3 cents compared with a loss of 7 cents the year prior. The number of shares outstanding in the latest period more than quadrupled from the year-earlier period. Analysts had projected a per-share profit of a penny. Revenue jumped 68% to $58 million. In November, the company had projected revenue between $61.5 million and $63 million.
Is MM a Buy After The Recent News? Get Free Trend Analysis Here
Seven Arts Entertainment Inc (PINK:SAPX) shares decreased 27.42% to $0.0090 in the last trading session. The company, on Jan. 29, announced that its affiliate, Seven Arts Filmed Entertainment Louisiana LLC ("SAFELA"), in conjunction with its previously announced joint venture partner Sixteen19, has entered into an agreement with CBS Sports for space at 807 Esplanade ("Property") to provide production support for this year's big game to be held on February 4th in New Orleans. This follows on the heels of the recently wrapped Weinstein Company picture "Ransom" which was also housed at the Property throughout December and January.
How Should Investors Trade SAPX After The Recent Movement? Find Out Here
Office Depot Inc (NYSE:ODP) shares fell 16.73% to $4.18. The company will acquire smaller rival OfficeMax Inc in a $976 million all-stock deal, the companies said yesterday, confirming an agreement inadvertently announced earlier in the day, before it was completed. The combined entity's name, headquarters and CEO are all undetermined, an unusual level of major decisions yet to be made that points to the integration challenge the companies face.
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