MGM Resorts Shares Climb Higher as Billionaire Kerkorian may Boost his Stake. Market Trades Flat on Good Economic Data

Fri Mar 15, 2013 9:40am EDT

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MGM Resorts Shares Climb Higher as Billionaire Kerkorian may Boost his Stake. Market
Trades Flat on Good Economic Data

NEW YORK, March 15, 2013 /PRNewswire/ --

    A new SEC filing revealed that Billionaire Kirk Kerkorian, 95 years old, could boost
his position in MGM through his investment company Tracinda. His position would move
from 18.6% to 25%. Tracinda made the disclosure with the Federal Trade Commission to
comply with antitrust regulations, according to a securities filing earlier this week.
Shares of MGM have already gained over 6.5% this year. The stock closed up 6.65% at
$13.24 on Thursday.  

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    Orbitz Worldwide, Inc. (NYSE : OWW) - Shares of Orbitz Worldwide hit a new 52-week
high on Thursday. In intra-day trading the stock hit as high as $5.99. The Company's
Partner Network, a leading provider of private label travel technology, has launched a
new partnership with the Finnish airline Finnair to power dynamic package search and
booking capabilities on the co's U.S. website. The new agreement enables travelers to
leverage Orbitz Worldwide proprietary technology for booking vacation packages that
combine flights with hotel rooms. On March 1st and March 5th, an insider in the Company
sold a combined 28,106 shares. OWW closed at $5.94 yesterday, up 9.19%.  

    ARCA biopharma, Inc. (NASDAQ : ABIO) - ARCA biopharma was one of the biggest gainers
on the Nasdaq composite on Thursday, climbing as high as $3.92 in intra-day trading. The
unusual price soar was also accompanied by heavy trading volume. The stock traded
1,606,726 shares, significantly higher than the stock's average of 83,185 shares. ARCA
biopharma, Inc. is a biopharmaceutical company that focuses on developing
genetically-targeted therapies for cardiovascular diseases. The stock closed at $3.19
yesterday, up 38.70%.  

    The Men's Wearhouse, Inc. (NYSE : MW) - MW was one of the most actively traded
stocks on the NYSE. The stock rose as high as $35.29 in intra-day trading. The Company
reported revenues yesterday, announcing that overall revenue in the quarter, which ended
Feb. 2, rose 8.2% to $608.4 million. For the quarter, the Company met expectations on
revenues but missed expectations on earnings per share. The Men's Wearhouse posted a
7-cent per-share loss vs. a 5-cent loss a year earlier, two cents below the low end of
management's guidance. Shares of MW closed at $34.64, up 19.16% yesterday.  

    Sigma Designs, Inc. (NASDAQ : SIGM) - Sigma Designs, Inc. shares closed up 17.65% on
Thursday, at $5.20. The Company reported financial results and business highlights for
its fourth fiscal quarter and fiscal year ended February 2, 2013. Net revenue for fiscal
year 2013 was $216.6 million, an increase of $34.0 million from $182.6 million in the
previous year. Net revenue for the fourth quarter of fiscal 2013 was $44.2 million, down
$19.7 million, from $63.9 million reported in the previous quarter and up $8.6 million,
from $35.6 million reported for the same period last year. On March 4th, the Interim CFO
bought 10,000 shares. Research firm Needham upgraded the stock from "hold" to "buy".  

    Quicksilver Resources Inc. (NYSE : KWK) - Shares of KWK experienced an unusual
volume and price per share boost on Thursday. The stock closed with gains over 26%
yesterday at $2.74. Trading volume was over nine million shares, more than three times
higher than the stock's average of 2,780,830 shares. The independent oil and gas company
engages in the acquisition, exploration, development, and production of onshore oil and
gas in North America. The stock has a 52-week trading range of 1.62 - 5.97.  

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