Highway products maker Quixote Corporation (QUIX) agreed to be acquired by Trinity Industries (NYSE:TRN) for 6 dollars and 38 cents per share in cash, or 61 million dollars in total. BofA Merrill Lynch (NYSE:BAC) is acting as financial advisor to Trinity, while Morgan Keegan is acting as financial advisor to Quixote for the transaction. Quixote shares jumped 115% in early trading Thursday.
Shares of Intellicheck Mobilisa (NASDAQ:IDN) rallied more than 70% after the company's CEO was interviewed on TheStreet.com and highlighted a homeland security scanning technology that could potentially play a role in airports. Airport security stocks have been on a tear this week following the Christmas terrorism scare, including IDN shares which closed at just a dollar 32 before the holiday and on Thursday are trading above the 4 dollar mark.
And shares of Biodel (BIOD) advanced more than 13% after the company announced it has submitted a new drug application to the FDA for clearance to market the company's diabetes treatment. The company said its proprietary formulation of recombinant human insulin is absorbed into the blood faster than current insulin products on the market.
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