NASDAQ Top Percentage Gainers; (FMFC), (VSAT), (TRLG), (ARKR)
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New York, New York - February 7, 2013 (www.investorideas.com newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector research for independent investors reports on the top percentage gainers on the NASDAQ for February 7th, 2013.
First M & F Corporation (NASDAQ:FMFC) trading at $11.75 gained $3.30 or 39.05% on a volume of 118,448 shares.
Renasant Corporation and First M&F Corporation jointly announced earlier today the signing of a definitive merger agreement pursuant to which Renasant Corporation will acquire First M&F Corporation, a bank holding company headquartered in Kosciusko, Mississippi, and the parent of Merchants & Farmers Bank, a Mississippi banking corporation.
Upon completion of the transaction, the combined company will have approximately $5.8 billion in total assets and will rank as the 4th largest bank by deposits in Mississippi. The transaction will add $1.6 billion in assets, $1.4 billion in deposits and 36 full-service locations throughout Renasant's Mississippi, Alabama and Tennessee banking franchises. This merger will also strengthen the Company's overall business lines by doubling its insurance operations and complementing its mortgage and wealth management divisions.
ViaSat Inc., (NASDAQ:VSAT) trading at $48 moved up $8.26 or 20.79% on a volume of 698,130 shares.
Just yesterday Needham research group gave ViaSat an upgrade from "Hold" to "Buy".
True Religion Apparel Inc., (NASDAQ:TRLG) trading at $28.57 rose by $4.82 or 20.29% on a volume of 1,402,407 shares.
True Religion Apparel Inc., stocks were on the rise after the company delivered a profit and beat Wall Street's expectations as well as the revenue expectation. The revenue gain is a positive sign to shareholders seeking high growth out of the company.
The company's revenue rose 14.73% to $137 million from the year-earlier quarter and their adjusted net income of 55 cents per share beat the mean analyst estimate of $0.53 as well as the average revenue estimate of $130.02 million.
Ark Restaurants Corp., (NASDAQ:ARKR) trading at $21.30 gained $3.26 or 18.04% on a volume of 41,792 shares.
U.S. restaurant chain Landry's Inc has announced interest to buy Ark Restaurants Corp for $22 per share and is willing to meet with the company's board of directors to negotiate a deal.
Based on 3.24 million shares outstanding, as per Thomson Reuters data, the offer would value Ark Restaurants at about $71.3 million.
Landry's per share offer is a 22 percent premium to Ark's closing price of $18.04 Wednesday on the Nasdaq.
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