US stocks were little changed on Wednesday as investors stayed on the sidelines amid a lack of trading cues.
Below we highlight few companies whose shares are actively trading in Wednesday's session.
Jazz Pharmaceuticals, Inc. (NASDAQ: JAZZ) rallied as much as 12% on Wednesday after US Food and Drug Administration said that its drug sodium oxybate, or JZP-6, effectively treated pain from fibromyalgia.
Shares of Grand Canyon Education, Inc. (NASDAQ: LOPE) jumped more than 9% on Wednesday after the for-profit education company announced today that, following the close of the markets on Tuesday, August 17, 2010, the United States District Court for the District of Arizona filed an order approving a settlement agreement between the company and the and an ex-employee in the False Claims Act case. Under the terms of the agreement, the company will pay an aggregate settlement amount of $5.2 million to the United States and the relator and, in return, the company will receive a release from all future False Claims Act claims and from all future US Department of Education administrative actions.
Shares of Microvision, Inc. (NASDAQ: MVIS) surged as much as 10% on Wednesday, a day after announced that it has secured a committed equity financing facility under which it may sell up to $60 million of its shares of common stock to Azimuth Opportunity, Ltd. over a 24-month period. Microvision is not obligated to use the facility and remains free to enter into and consummate other equity and debt financing transactions.
Hemispherx Biopharma, Inc. (AMEX: HEB) soared more than 15% after it announced that its six-year litigation battle with the South African investment conglomerate JCI Ltd., traded on the Johannesburg Stock Exchange, ended in victory August 11, 2010, with the entry of a $188 million judgement in Hemispherx's favor and against Johannesburg Consolidated Investments (JCI) and former JCI officers R.B. Kebble and H.C. Buitendag.
Disclosure: Author doesn't own any of the stocks discussed here.