Hot Stocks Of The Day: NAL, BSDM, AXAS, VGZ
Thursday, August 19, 2021 1:02 PM

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US stocks slumped on Thursday as worse-than-expected jobless claims data rattled investors.

Below we highlight few companies whose shares are actively trading in Thursday's session.

Shares of NewAlliance Bancshares, Inc. (NYSE: NAL) surged more than 13% after it agreed to be acquired by First Niagara Financial Group (NASDAQ: FNFG) for $1.5 billion in cash and stock. 

BSD Medical Corporation (NASDAQ: BSDM) sank as much as 16% after it announced that it has entered into a securities purchase agreement with two existing institutional investors for the sale of 1,225,000 shares of its common stock in a registered direct offering at $2.25 per share. In addition, warrants to purchase 918,750 shares of common stock in the aggregate will be issued to the investors. 

Abraxas Petroleum Corporation (NASDAQ: AXAS) rallied more than 2% on Thursday, a day after the company signed a joint venture agreement with Blue Stone Oil & Gas, LLC to develop the Eagle Ford Shale play in South Texas. Abraxas will contribute 8,333 net acres in the Eagle Ford Shale play to Blue Eagle Energy, LLC and receive a $25 million equity interest in the JV and Blue Stone will initially contribute $25 million in cash to the JV for a $25 million equity interest in the JV. In addition, Blue Stone has committed an additional $50 million in cash to the JV, which combined with the initial $25 million, will be used to acquire additional acreage and 3-D seismic data, and to drill and complete wells targeting the Eagle Ford Shale formation. Upon full funding, Abraxas will own a 25% equity interest in the JV and Blue Stone will own a 75% equity interest in the JV.

Vista Gold Corp. (AMEX: VGZ) soared as much as 11% after announced estimated proven and probable mineral reserves of two million ounces and the positive results of a Preliminary Feasibility Study for the Batman deposit at the Company's wholly-owned Mt. Todd gold project in Northern Territory, Australia.

Disclosure: Author doesn't own any of the stocks discussed here.

 

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