Investor Ideas Snapshot; NASDAQ Top Percentage Gainers; (IMMR), (HOTT), (AFFY), (CIEN)
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New York, New York - March 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 March 7th, 2013.
Immersion Corporation (NASDAQ:IMMR) trading at $8.72 rose by $2.45 or 39.07% on a volume of 1,128,482 shares, making it today's top percentage gainer on the NASDAQ.
Immersion Corporation, the leader in touch feedback technology development and licensing, today announced it has entered into a multi-year license agreement with Samsung Electronics Co., Ltd. In addition to providing a license to Immersion's TouchSense® and Integrator solutions, the agreement includes a patent license covering Samsung's prior and future use of simple forms of haptic effects, sometimes referred to as Basic Haptics, in its smartphones and other mobile devices.
Having entered into this important customer agreement, the company is now in a position to raise its 2013 guidance with expected revenues for the year to be in the range of $44 million to $48 million.
Hot Topic Inc., (NASDAQ:HOTT) trading at $13.88 gained $3.13 or 29.07% on a volume of 13,638,842 shares.
Hot Topic Inc., the operator of more than 800 stores selling clothing, accessories, music and gifts to teens, agreed to be bought by private-equity firm Sycamore Partners for about $600 million.
The agreement was unanimously approved by Hot Topic's board and will require shareholder and regulatory approval. The offer of $14 a share is 30 percent higher than Hot Topic's closing price yesterday.
Lisa Harper, a Hot Topic board member since 2008, took over as chief executive officer two years ago amid declining sales. Shares of Hot Topic, which operates its namesake, Torrid and Blackheart chains, rose 46 percent last year as quarterly results exceeded analysts' estimates for four straight quarters, according to data compiled by Bloomberg.
Harper, a former CEO of children's clothing chain Gymboree Corp., has told investors she's working to return the brand to its "edgy, dark and sexy core." The teen retailer, which features a gothic sensibility, was a popular destination for fans of the Twilight book and film series featuring a teenage vampire.
Affymax Inc., (NASDAQ:AFFY) trading at $2.67 moved up $0.38 or 16.59% on a volume of 6,005,919 shares.
Ciena Corporation (NASDAQ:CIEN) trading at $17.39 gained $2.45 or 16.40% on a volume of 10,017,946 shares.
Ciena Corp., a maker of communications-network equipment, jumped 16 percent in New York trading after its first-quarter profit beat analysts' estimates.
Ciena posted earnings of 12 cents a share in the period, which ended Jan. 31, beating what analysts had predicted of a loss of 14 cents a share on average.
Ciena, based in Hanover, Maryland, supplies fiber-optic networking gear to phone carriers and other customers, including AT&T Inc. and China Mobile Ltd.
The company expects to outpace the broader industry this year, Chief Executive Officer Gary Smith said in a statement.
Ciena shares climbed to $17.36 at 9:30 a.m., New York time, the biggest intraday gain in 18 months.
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