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Los Angelas, CA -- (SBWIRE) -- 09/25/2012 -- LML Payment Syste (NCM:LMLP) is very active today and traded between $3.32 - 3.41 with total traded volume of 9549657 shares. At a current price of 3.40, LMLP is +1.53 - +81.82% from the previous close of $1.87. Moreover, At Current Market Price, LMLP is in distance of +59.95% from its 50-day Moving Average price of $2.1257 and +70.44% from its 200-day Moving Average price of $1.9949. LML Payment Syste (NCM:LMLP) was acquired by Digital River Inc. (DRIV, $16.90, +$0.10, +0.60%) agreed to acquire electronic-payment processor LML Payment Systems Inc. (LMLP, $3.40, +$1.53, + 81.82%) for about $102.8 million in cash as it looks to expand its processing of mobile payments. Digital River, a provider of e-commerce outsourcing, said it will pay $3.45 a share, an 84% premium to LML's Friday close. The transaction is subject to satisfaction of other customary terms and conditions and is expected to close during the fourth quarter in 2012 or the first quarter in 2013. The acquisition is expected to be accretive to Digital River's earnings in its 2013 fiscal year. For the three months ended June 30, LML posted flat earnings of 2 cents on revenue drop of 5 percent.
RBC Capital Markets served as financial advisor to Digital River and William Blair & Company L.L.C. served as financial advisor to LML Payment Systems for this transaction
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Longwei Petroleum (AMEX:LPH) is +0.26 - +21.49% from the previous close of $1.21. It traded between $1.4301 - 1.65 with total traded volume of 1194807 shares. Keep a close eye on LPH, as the stock has been showing unusual moves over the past weeks. At Current market price, LPH has recovered +79.27% from its 52-week Low of 0.82 and has Pulled back -19.67% from its 52-week high of 1.83. Longwei Petroleum today announced that it will complete the purchase of the assets of Huajie Petroleum Co., Ltd. ("Huajie"), a fuel storage depot in northern Shanxi Province with a 100,000-metric-ton storage capacity, by the end of this month. Longwei will acquire the assets of Huajie for a total purchase price of RMB 700 million (approximately US $110.6 million). The Company has agreed with the seller that the final payment of RMB 150 million (approximately US $23.7 million) will be paid on or before September 30, 2012. The Company currently has paid RMB 550 million (approximately US $86.9 million) on deposit for the purchase.
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Rambus, Inc. (NasdaqNM:RMBS) is very active today and traded between $5.10 - 6.10 with total traded volume of 5323206 shares. At a current price of 5.80, RMBS is +0.87 - +17.65% from the previous close of $4.93. Moreover, At Current Market Price, RMBS is in distance of +22.02% from its 50-day Moving Average price of $4.7531 and +12.89% from its 200-day Moving Average price of $5.1379. A federal judge found that Rambus Inc. (RMBS, $5.80, +$0.87, +17.65%) "willfully" destroyed documents related to a long-running patent dispute with SK Hynix Inc. (HXSCF), which said it expects to pay lower royalties in the case as a result. Rambus stressed, however, that the judge also found that its patents in this case are valid and infringed by SK Hynix and that Rambus is entitled to receive royalty payments for past infringement. "This is a positive result as it is consistent with what we've been seeking all along reasonable compensation for the use of our patented inventions," said Thomas Lavelle, senior vice president and general counsel at Rambus, in a prepared statement.
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Savient Pharmaceu (NGM:SVNT) is +0.42 - +16.80% from the previous close of $2.50. It traded between $2.35 - 2.95 with total traded volume of 7190557 shares. At Current Market Price, SVNTis in distance of +114.30% from its 50-day Moving Average price of $1.3626 and +123.93% from its 200-day Moving Average price of $1.304. Savient Pharmaceuticals, Inc.(NASDAQ:SVNT) shares gained 8.80% to $2.72 after the company announced that the appointment of John P. Hamill as Senior Vice President & Chief Financial Officer (CFO )effective from September 24, 2012.The company announced that several abstracts related to KRYSTEXXA (pegloticase) in the treatment of patients with Refractory Chronic Gout (RCG) will be presented at the 2012 ACR/ARHP Annual Meeting taking place in Washington D.C., from November 9-14, 2012.
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