Approach Resources Inc. (NASDAQ:AREX) surged 7.58% to $17.81 on an unusual
volume of 1.80 million shares. The company announced that it has upsized and
priced its previously-announced underwritten public offering of common stock.
The size of the offering has been increased from the previously-announced
5,000,000 shares of common stock to 5,750,000 shares of common stock at a price
to the public of $16.25 per share. The Company has granted the underwriters a
30-day option to purchase up to an additional 862,500 shares of common stock to
cover over-allotments. The stock today also touched a new 52-week high at
$18.59. iStar Financial Inc. (NYSE:SFI) jumped 5.59% to $5.48 on a volume of
1.14 million shares seeking to avert a bankruptcy filing next year, is in talks
with creditors about exchanging debt and lining up as much as $2 billion in new
financing, three people with direct knowledge of the matter said. The stock has
been moving within a range of $2.29-$7.82 over the past 52-weeks. So far in this
year the stock has soared 114.06%. Brigham Exploration Company (NASDAQ:BEXP)
spurted 4.43% to $25.20 on 2.31 million shares after analyst at Jefferies
upgraded the stock with Buy rating and raised the price target from $20 to $32.
The stock today also touched a new 52-week high at $25.63. So far in this year
the stock went up 86.05%. Flotek Industries, Inc. (NYSE:FTK) also surged 9.22%
to $2.37 on a volume of 1.25 million shares after it reported financial and
operating results for the three and nine months ending September 30, 2010. In
the third quarter of 2010 Flotek revenue totaled $40.0 million, an increase from
$31.2 million in the second quarter of 2010 and $23.8 million in the third
quarter of 2009. The Company posted a net loss attributable to common
shareholders of $2.4 million in the third quarter of 2010, an improvement
compared to a loss of $7.4 million in the second quarter of 2010 and $23.9
million in the third quarter of 2009.
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