NASDAQ price falls: (SONS, JOEZ, OREX, HERO, PWAV)
Sonus Networks, Inc. (NASDAQ: SONS) decreased by 1.01% and closed at $2.95 with traded volume of 1.001 million shares. Sonus Networks, Inc. (Sonus Networks) is a provider of voice, video and data infrastructure solutions for wireline and wireless telephone service providers. The Company’s products include infrastructure equipment and software that enable voice services to be delivered over Internet protocol (IP) networks. Its products also interoperate with network operators’ existing telephone infrastructure. Sonus Networks sells its products principally through a direct sales force in the United States, Europe, the Middle East, Africa, Japan and Asia-Pacific. The Company’s target customers consists of both traditional and emerging communications service providers, including long-distance carriers, local exchange carriers, Internet service providers, wireless operators, cable operators, international telephone companies and carriers that provide services to other carriers.
Joe’s Jeans Inc. (NASDAQ: JOEZ) closed at $1.95 after moving down by 4.41% whereas overall traded volume stood at 979,506 shares for the day. Joe’s Jeans Inc. (Joe’s) is engaged in designing, developing and marketing of its Joe’s products, which include denim jeans, related casual wear and accessories. The Company designs, develops and markets, and relies on third parties to manufacture its apparel products. The Company sells its products to numerous retailers, which include department stores, specialty stores and distributors worldwide, and through its retail stores. Joe’s primary operating subsidiary is Joe’s Jeans Subsidiary Inc. In October 2008, the Company opened its first retail store in Chicago, Illinois and operates one additional retail store in San Francisco, California and four outlet stores in outlet centers around the country. During the fiscal year ended November 30, 2009 (fiscal 2009), the Company launched a line of unisex woven shirts in different fits and fabrications called The Shirt and branded it with the Joe’s logo. During fiscal 2009, the Company also launched a line of denim leggings for women.
Orexigen Therapeutics, Inc. (NASDAQ: OREX) plunged by 2.51% and closed at $4.67 with total traded volume of 961,234 shares in the last trading session. Orexigen Therapeutics, Inc. (Orexigen) is a biopharmaceutical company focused on the development of pharmaceutical product candidates for the treatment of obesity. Its combination product candidates targeted for obesity are Contrave which has completed Phase III clinical trials, and Empatic, which has completed Phase II clinical trials. Contrave is a combination of two drugs, bupropion and naltrexone, in a sustained release (SR) formulation. Bupropion is a prescribed antidepressant and smoking cessation medication; naltrexone is a treatment for alcohol and opioid addiction. Empatic is a combination of bupropion SR and zonisamide SR. Zonisamide, in a release formulation, was approved in the United States for the adjunctive treatment of partial seizures, a form of epilepsy. These product candidates regulate appetite and energy expenditure through the central nervous system (CNS)
Hercules Offshore, Inc. (NASDAQ: HERO) closed at $2.53 after reporting the fall of 4.17% whereas overall traded volume stood at 952,354 shares for the day. Hercules Offshore, Inc. (Hercules Offshore) provides shallow-water drilling and marine services to the oil and natural gas exploration and production industry globally. It provides these services to national oil and gas companies, major integrated energy companies, and independent oil and natural gas operators. As of February 24, 2010, the Company owned a fleet of 30 jackup rigs, 17 barge rigs, three submersible rigs, one platform rig, a fleet of marine support vessels and 60 liftboat vessels. In addition, Hercules Offshore operates five liftboat vessels owned by a third party. The Company owns four retired jackup rigs and eight retired inland barges, all located in the United States Gulf of Mexico, which are not expected to re-enter active service.
Powerwave Technologies, Inc. (NASDAQ: PWAV) witnessed the correction of 2.08% to close at $1.88 with total traded volume of 944,609 shares in the last trading day. Powerwave Technologies, Inc. (Powerwave) is a global supplier of end-to-end wireless solutions for wireless communications networks. The Company’s business consists of the design, manufacture, marketing and sale of products to improve coverage, capacity and data speed in wireless communications networks, including antennas, boosters, combiners, cabinets, shelters, filters, radio frequency power amplifiers, remote radio head transceivers, repeaters, tower-mounted amplifiers and advanced coverage solutions. The products are utilized in wireless networks globally, which support voice and data communications by use of cell phones and other wireless communication devices. Powerwave sell the products to both original equipment manufacturers, which incorporate the products into their base stations.
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