Boston, MA -- (SBWIRE) -- 09/09/2013 -- 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: (Forest Oil Corporation (NYSE:FST), Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), Tellabs, Inc. (NASDAQ:TLAB), Spirit Realty Capital Inc (NYSE:SRC)
Forest Oil Corporation (NYSE:FST) shares increased 3.44% to $5.71. 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 approx. $35 million. The transaction includes approximately 58,200 gross acres 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 plans 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 1.69% to $6.39. 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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Tellabs, Inc. (NASDAQ:TLAB) shares gained 2.16% to $2.37. A new study sponsored by Tellabs on August 29 defines the value of Software Defined Networking (SDN) in mobile backhaul networks. New research by Strategy Analytics finds that SDN can save mobile operators more than $4 billion in capital expenses by 2017.
Additionally, the company on August 1 announced its second-quarter 2013 results. The company said second-quarter loss widened to $7.8 million or $0.02 per share from $4.7 million or $0.01 per share in the same period last year. Adjusted earnings per share were breakeven. Analysts expected the company to report a loss of $0.02 per share for the quarter. Revenues decreased to $212.1 million from $288.1 million last year. Analysts expected revenues of $210.34 million.
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Spirit Realty Capital Inc (NYSE:SRC) shares climbed 1.02% to $8.91. The company on Sept. 5 announced that its Board of Directors has declared a $0.001783 per share daily cash dividend for the period from July 17, 2013, the effective date of Spirit Realty Capital's merger with Cole Credit Property Trust II, Inc. ("Cole II"), through September 30, 2013. This dividend equates to an annualized rate of $0.65625 per share.
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