LiveDeal, Inc. (NASDAQ: LIVE) shares close up nearly 34% on Wednesday with almost 16 million shares traded. The stock was one of the most active stocks on the NASDAQ. The company announced that it will be added to Morgan Stanley Capital International's (MSCI) exclusive Global Index."In a rebalancing of MSCI's global indices, LiveDeal is being added to the MSCI US Micro Cap Index, and with it, investors should see greater liquidity, and price appreciation," the company wrote in a statement. "LiveDeal should benefit greatly from being added to the exclusive list of companies that will garner worldwide attention from large pension plans, hedge funds, asset managers, and banks."
LiveDeal, Inc., together with its subsidiaries, provides customer acquisition and online listing services for small and medium-sized local businesses in the United States. It offers online presence marketing products, including template and custom Website design for desktop or mobile devices; social media marketing; and content marketing, such as blog postings and commenting, updating clientÂ’s Websites, blog commenting, social bookmarking, social media directory listing, and profile submission to the search engines.
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PetroLogistics LP (NYSE: PDH) shares hit a new 52-week high of $14.31 during intra-day trading on Wednesday. Flint Hills Resources, a subsidiary of Koch Industries, ag has agreed to buy PetroLogistics for $2.1 billion in cash, expanding its chemicals business. Flint Hills will purchase PetroLogistics common units for $14 each.
PetroLogistics LP owns and operates propane dehydrogenation facility that produces polymer grade and chemical grade propylene from propane in North America. The company offers propylene, hydrogen, and C4 mix/C5+ streams to petrochemical industry. Its propylene is used in the production of paints, coatings, building materials, clothing, automotive parts, packaging, and various other consumer and industrial products.
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