NEW YORK, January 28, 2013 – Powerwave Technologies Inc (NASDAQ: PWAV) among the losers and the stock declined 76.32% to $0.0734 on a traded volume of 2.65 million shares. The Company filed for bankruptcy protection after losing money in four of the past five years. The Company listed debt of $396 million and assets of $213 million in a Chapter 11 petition filed in Wilmington, Delaware.
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School Specialty Inc (NASDAQ: SCHS) declined 75.73% to $0.145 on a traded volume of 5.42 million shares. The Company filed for bankruptcy protection and said it will sell its assets to investment firm Bayside Capital Inc, an affiliate of HIG Capital. School Specialty listed assets of $494.5 million and liabilities of $394.5 million as of October 27. The Company engaged Perella Weinberg Partners in October as its financial adviser to explore its options. School Specialty is a wholesaler of school equipments and supplies. It offers educational resources such as classroom supplies, office products, supplemental learning materials, teaching resources and art supplies.
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LodgeNet Interactive Corp (OTCQB: LNET) moved down 3.93% to $0.0269 on a traded volume of 2.27 million shares. The Company filed for bankruptcy protection and said private equity firm Colony Capital LLC will invest $60 million in exchange for full ownership of the reorganized company. LodgeNet said it would enter into an agreement with DirecTV, which will assume the cost of installing its systems. The Company listed assets of about $291.7 million and liabilities of $448.7 million as of September 30.
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Keryx Biopharmaceuticals (NASDAQ: KERX) augmented 40.82% to $4.83 on a traded volume of 13.55 million shares. The Company said that Zerenex performed much better than a placebo in a late-stage clinical trial. Zerenex is the potential kidney disease drug. The Company said it plans to submit an application for approval of the drug to both the U.S. Food and Drug Administration and European regulators in this year's second quarter.
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OCZ Technology Group Inc (NASDAQ: OCZ) soared 11.72% to $2.67 on a traded volume of 4.40 million shares. The Company has added 750W and 850W power supply unit models to the award-winning Silencer Mk III Power Supply Series from PC Power & Cooling. With these new high-wattage options, the Silencer Mk III provides a professional-grade power solution rated for industrial usage and provides the performance and stability required for demanding computing environments.
The Company appointed Wayne B. Eisenberg as Senior Vice President of Global Sales.
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