Boston, MA -- (SBWIRE) -- 09/06/2013 -- 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: (NII Holdings, Inc.(NASDAQ:NIHD), Dendreon Corporation(NASDAQ:DNDN), Forest Oil Corporation (NYSE:FST), Arena Pharmaceuticals, Inc. (NASDAQ:ARNA)
NII Holdings, Inc.(NASDAQ:NIHD) shares increased 2.06% to $6.45. The company on Aug. 19 announced it has completed the previously announced sale of its Peruvian operations to Empresa Nacional de Telecomunicaciones S.A. (Bolsa de Comercio de Santiago: ENTEL) for an aggregate value of $410.6 million, which reflects estimated adjustments for cash, debt and working capital balances as of the closing date. The transaction, which was structured as a purchase of the shares of NII's indirect subsidiary, Nextel del Peru S.A. ("Nextel Peru"), was completed as part of NII's previously announced strategy to focus its capital and other resources primarily in Mexico and Brazil, its two largest markets.
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Dendreon Corporation(NASDAQ:DNDN) shares declined 2.73% to $2.85. The company on August 8 reported results for the second quarter ended June 30, 2013. Net product revenue for the quarter was $73.3 million compared to $80.0 million for the quarter ended June 30, 2012, down 8.4% year over year and up 8.4% on a sequential basis. Net loss in the second quarter of 2013 was $68.8 million, or $0.45 per share, compared to a net loss of $96.1 million, or $0.65 per share for the same period in 2012.
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Forest Oil Corporation (NYSE:FST) shares increased 1.28% to $5.52. The company on Sept. 3 announced that it has entered into a definitive agreement with an undisclosed buyer to sell a portion of its largely undeveloped acreage position located in the Permian Basin of West Texas for proceeds of approximately $35 million. The transaction includes approximately 58,200 gross acres (52,350 net) located in Crockett County, Texas. The sale is expected to close on or before September 10, 2013 and is subject to customary purchase price adjustments and closing conditions. The Company intends to use the proceeds from this divestiture to reduce outstanding borrowings under its bank credit facility.
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Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) stock fell 0.76% to $6.50. The company on August 28 announced the completion of a Phase 1b clinical trial for APD811, an investigational oral prostacyclin (IP) receptor agonist intended for the treatment of pulmonary arterial hypertension (PAH). The company plans to initiate a Phase 2 clinical trial for APD811 in the first quarter of 2014. This randomized, double-blind and placebo-controlled Phase 1b clinical trial evaluated the safety, tolerability and pharmacokinetics of multiple-ascending doses of APD811. Arena previously evaluated single-ascending doses of APD811 in a Phase 1a clinical trial.
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