Boston, MA 02/18/2014 (wallstreetpr) – Allied Nevada Gold Corp. (NYSEMKT:ANV)’s shares gained after prices of gold firmed up. Gold prices climbed up on federal worries and weak data about the economy. The other news that the company will be divesting from two mining operations for a total of $30 million also enthused investors. Gold had a very bad run in 2013 even though the traditional catalysts for gold demand remained in force. Demand for gold picks up during very weak macro economic conditions as investors park their funds in this safe haven.
Cereplast Inc (OTCMKTS:CERP), the troubled bioplastic maker filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code. The company is still continuing operations though one creditor has petitioned a court in New Albany to convert the case to Chapter 7 liquidation. The company has seen several setbacks as countries are yet to enact legislation favoring bioplastic. The demand in the U.S. has not yet picked up and Europe is yet to enact suitable regulation. The company had reported revenues of $2.1 million and a loss of $34 million for the last nine months ending September 30, 2013. The company is yet to file results after that.
Ciena Corporation (NYSE:CIEN) has entered into a strategic alliance with Ericsson (ADR) (NASDAQ:ERIC) according to an announcement by the company. The global agreement will cover packet-optical distribution, SDN collaboration framework as well as converged IP/Optical joimt development and distribution. The shares gained more than 7% on this news to close at $25 while trading in the range $24.34-$25.28. Several analysts have reaffirmed their positive rating on the company as this deal is expected to be very beneficial to Ciena Corporation (NYSE:CIEN). In other news, Ciena Corps’ SVP, Francois Locoh-Donou has reported to the SEC that he has sold 23,143 shares of the company in the first week of February, 2014. The SVP still holds 223,713 shares in the company valued at $5.05 million.
