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Corporate Summary

•    Bio technology company ArQule Inc.’s (NASDAQ:ARQL) share prices gained 11.91% to close at $6.67 after the company's experimental treatment for liver cancer reported a positive outcome in its Phase II trial

•    Share prices of discount carrier Sprint Airlines Inc. (NASDAQ:SAVE) declined 5.53% after the company announced plans to sell 11 million shares in a secondary offering

•    Global provider of software Blackbaud Inc. (NASDAQ:BLKB) will buy fund raising software maker Convio Inc. (NASDAQ:CNVO) for $16 per share. Following the news, shares of Convio rocketed up 48% to close at $15.89 a share

•    ISTA Pharmaceuticals Inc.’s shares (NASDAQ:ISTA) gained 13.07% after Valeant Pharmaceuticals International Inc. (NYSE:VRX) increased its hostile-takeover bid for ISTA to $7.50 a share

•    Shares of natural gas firm Venoco Inc. (NYSE:VQ) surged 29.91% to close at $9.99 a share after it said its CEO would purchase the firm for $12.50 a share

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