Boston, MA -- (SBWIRE) -- 08/26/2013 -- At winstonsmallcap.com we focus on undervalued companies trading under $5. Right now the markets are surging and we are seeing an opportunity in micro-cap companies like we have never seen before. Let have a Look on: (ARMOUR Residential REIT, Inc.(NYSE:ARR), Standard Pacific Corp. (NYSE:SPF), ChemoCentryx Inc (NASDAQ:CCXI), Arena Pharmaceuticals, Inc. (NASDAQ:ARNA)
ARMOUR Residential REIT, Inc.(NYSE:ARR) shares gained 3.11% to $3.98 in the last trading session. The company on August 7 announced that, on August 5, 2013, the Company received a letter from the New York Stock Exchange ("NYSE") notifying the Company that it is deficient in meeting Section 303A.01 of the NYSE Listed Company Manual, which requires a majority of independent directors on the board of directors. The Company is deficient in meeting this standard as a result of Jordan Zimmerman's resignation as a director of the Company, effective August 2, 2013.
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Standard Pacific Corp. (NYSE:SPF) shares declined 3.82% to $7.55. The company on August 1 announced the pricing of its previously announced public offering of senior notes and the increase in the amount of the offering to $300 million aggregate principal amount of notes. Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC acted as joint book-running managers for the notes offering.
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ChemoCentryx Inc (NASDAQ:CCXI) stock plunged 28.83% to $8.32 in the previous trading session. The company on August 23 reports that GlaxoSmithKline (GSK) announced today that the first of four Phase III studies, the SHIELD-1 study, investigating vercirnon, an inhibitor of the chemokine receptor known as CCR9, in patients with moderate-to-severe Crohn's disease did not achieve the primary endpoint of improvement in clinical response and the key secondary endpoint of clinical remission. The rates of serious adverse events and withdrawals due to adverse events were similar among all treatment groups including the placebo group, with a trend in dose-dependent increases in overall adverse event rates.
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Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) stock declined 1.83% to $6.96. ARNA’s stock was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on August 5. The firm currently has a $7.40 price objective on the stock.
Additionally, the company on Aug. 1 provided a corporate update and reported financial results for the second quarter ended June 30, 2013. Second quarter revenues totaled $68.9 million, including $1.3 million in net product sales and $65.5 million in milestone payments. Net income allocable to common stockholders was $40.1 million, or $0.18 per share.
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