09:30 QXM (play on XING): I bought some this AM at $4.35 based on simple math and assuming XING buyout of QXM goes thru.
The strength in QXM (+7.6%) following XING's +21% increase in price is most likely related to the prior takeover offer by XING to QXM, in which XING proposed to issue 1.9 shares of its common stock plus US$0.80 in cash per share to shareholders of QXM. XING noted on 12/10 that the Special Committee of QXM has not yet indicated whether it will recommend that the minority shareholders accept the proposed offer. In addition, QXM is seeking a new financial advisor in connection with the Special Committee's evaluation of the proposed acquisition. On 12/21, QXM's board approved the removal of David Li as QXM's CEO.
Focus Focus Focus Focus !!!!
