The company saw a number of investors rush to its micro cap stock following the announcement by the FDA, and this approval was applauded by a number of groups within the medical community.

"Over-the-counter testing has the potential to reach a far greater number of people who want to know their HIV status on their own terms," Tom Donohue, founder of HIV awareness group Who's Positive, told the news outlet.

Following a surge in trading on May 15, the company's stock still rose in value in morning trading on Wednesday. Orasure was trading at $11.19 at 10:41 a.m., up $2.03 or 22.31 percent per share.

A company press release noted that Orasure was working closely with the FDA to secure approval, which was granted after the Blood Products Advisory Committee gave the agency the final go-ahead.

According to a company release, the year-end results outlined how company sales grew 25.9 percent during 2011 and operating income rose by roughly $35 million. This news pushed VOXX to the top of small cap companies in terms of an increase in the value of shares.

The stock price for the publicly-traded company rose $1.57 to $13.28 at 12:27 p.m. eastern time on May 15, marking an increase of 13.4 percent per share.

The company's president and chief executive officer noted that developments at the end of 2011 put VOXX into a position for growth in 2012.

"Many of our core product lines are expected to grow organically this year and we see increased potential in the 2nd half of the year backed by new product introductions and new OEM programs," said Pat Lavelle.

RTTNews reported that the company has projected sales of approximately $900 million in the coming year. 

According to a release from the company, the first quarter report showed a loss applicable to common shareholders of $25.7 million, or roughly $1.35 per share.

Shares for Geokinetics dropped $0.320 to $0.930, marking a decrease of 25.59 percent for the company's stock on May 15.

The firm's chief executive noted that the first quarter losses were attributable to a growing backlog and the financial instability of global markets.

"Despite these positive developments, job awards are being delayed in the Far East and we anticipate that the U.S. and particularly Canada operations will slow down during the second quarter of 2012 compared to the activity during the first quarter," said Richard F. Miles. "Improving liquidity continues to be our primary focus and remaining at the top of our priority list are increased asset utilization, cost reductions and sales of non-core assets."

On April 18, the Securities and Exchange Commission approved an alternative to the $4 initial listing bid price requirement for the NasdaqCM. The rule change is meant to level the playing field between the NASDAQ Stock Market and its main competitor, the NYSE Amex. Prior to the rule change, the NYSE Amex required companies to have a minimum stock price of $2 to $3, while the NasdaqCM required a price of $4. As a result, numerous small-cap stocks trading between $2 and $4 were shut out of the NasdaqCM. According to the NASDAQ Stock Market’s proposal, filed in January, “A number of companies have indicated a preference to initially list on the Capital Market instead of NYSE Amex and have expressed frustration at their inability to do so without reverse splitting their stock.”

Under the new NasdaqCM requirements, a stock can qualify for listing if it closes at $3 or above for at least five consecutive business days prior to approval. The five-day requirement is in place to reduce the risk of price manipulation aimed at allowing a security to qualify for listing. In addition to the $3 share price requirement, the company must meet the following requirements:

• Stockholders’ equity of at least $5 million
• Market value of publicly held shares of at least $15 million
• Two years of operating history

Or:

• Net income from continuing operations of $750,000 in the most recently completed fiscal year or in two of the three most recently completed fiscal years
• Stockholders’ equity of at least $4 million
• Market value of publicly held shares of at least $5 million.

Securities with a $2 minimum closing price for five consecutive business days prior to the approval can also qualify for listing on the NasdaqCM if they meet the Market Value of Listed Securities Standard, which requires a market value of listed securities of at least $50 million, stockholders’ equity of at least $4 million, and a market value of publicly held shares of at least $15 million

In addition, companies must demonstrate that they have more than $2 million in net tangible assets if they have been in continuous operation for at least three years, or more than $5 million if they’ve been in continuous operation for less than three years. A company must also have average revenue of at least $6 million for the past three years. All other requirements for listing on the Capital Market are the same or higher than those of the NYSE Amex. A copy of the NASDAQ Stock Market’s original proposal is available on the SEC website.

With the new requirements, the NASDAQ Stock Market becomes more competitive with the NYSE Amex, and emerging growth companies now have another avenue to benefit from the increased exposure, liquidity, and access to capital that comes with uplisting to a senior exchange. As would be expected, two companies that RedChip helped uplist, L & L Energy (NASDAQ: LLEN) and Longwei Petroleum (NYSE Amex: LPH), both saw substantial valuation gains after moving to senior exchanges. If you are an executive or board member of an over-the-counter company and would like to learn how RedChip can help your company, contact us today.

Disclosure: The subject securities are clients of RedChip Companies, Inc. RedChip Companies, Inc., employees and affiliates may have positions and affect transactions in the securities or options of the issuers mentioned herein. For full financial disclosures for all RedChip clients, please visit http://www.redchip.com/disclosures.asp?src=rcv.

A release from the company noted that the payment was in connection with Bayer's continued development of a recombinant factor VIIa product candidate that could potentially be used for the treatment of hemophilia.

The $30 million represents an additional contingent payment based on the development of the product and the satisfaction of certain patent-related conditions.

"The receipt of the full payment from Bayer represents a significant milestone in our continuing efforts to maximize returns for our stockholders," said James Sulat, chief executive officer of Maxygen. "We congratulate our colleagues at Bayer for this achievement and are pleased to see a program originally developed by Maxygen continue in clinical development."

The Silicon Valley Business Journal reported that this $30 million followed an upfront payment of $90 million from Bayer. Shares of Maxygen rose $0.40 to $6.01, representing an increase of 7.13 percent on May 14.

Reuters reported that the company's shares fell after NBC decided not to renew "Who Do You Think You Are," a show based on the tracing of celebrities' family history through Ancestry.com's databases. Because it featured appearances from high-profile people such as Steve Buscemi, Martin Sheen, Marisa Tomei and Lionel Richie, the program was seen as a major influence for the gains in subscriptions for the website.

According to the news outlet, the company, which had roughly 1.7 million subscribers at the end of 2011, saw its small cap stock lose value following an announcement by NBC saying it will not pursue a fourth season for the show.

The company's stock dropped $3.38 to $22.78 at midday trading on May 14, a decline of 12.92 percent. Though this immediate drop occurred following the announcement, the firm's chief executive noted that they are exploring other avenues of distribution to increase subscriptions, according to a company release.

JP Morgan Chase, the biggest bank in the US, has revealed a shock trading loss of $2 billion (£1.2 billion) on complex investments made by some of its traders.

Accounting for all other gains made from investments, the firm's chief investment office (CIO) expects to lose around $800 million in the second quarter.

However, the loss could be as big as $1 billion, according to chief executive Jamie Dimon, who said this in an unscheduled conference call.

As a result of this, JP Morgan shares fell six per cent after-hours.

Mr Dimon claimed the strategy undertaken by its CIO had been "riskier, more volatile and less effective" than had been hoped.

The trading loss is something of an embarrassment for the company after it emerged from the 2008 financial crisis in much better health than some banks by avoiding risky investments.

Professor Mark Williams from Boston University told the BBC World Service: "How could a bank that's supposed to be the premier bank in setting the leadership role allow such risk taking?"

Sony shares have fallen dramatically to a 31-year low a day after the company reported a record annual loss of 456.7 billion yen (£3.5 billion).

Its stock dropped by as much as 6.7 per cent to 1,132 yen on the Tokyo Stock Exchange.

The firm has now been making a loss for each of the past four years.

However, it claims it is well positioned to return a profit in this current financial year.

Analysts remain unconvinced whether the firm would be able to do this in such a short turnaround.

Earlier this year the company's chief executive and newly elected president Kazuo Kirai announced it would cut 10,000 jobs globally as part of a major reorganisation.

Yuuki Sakurai of Fukoku Capital Management told BBC News investors are particularly unimpressed with the results.

"Sony is facing a lot of difficulties and the new president has not been able to produce a clear plan as to how he will turn around the company," he added.

Ailing Spanish lender Bankia is set to be partially nationalised, the central bank has confirmed.

Bankia will have a €4.47 billion (£3.59 billion) loan from the Spanish bailout fund converted into shares.

The state fund will have a 45 per cent stake in the bank.

Earlier on Wednesday (May 9th), Spanish stocks fell by three per cent, while government bond yields rose above six per cent.

Bankia has the industry's largest exposure to the property market, which collapsed and heaped its lenders with bad debt.

The country's fourth-largest bank was only created in 2010 in a merger of seven other struggling savings institutions.

BBC's business editor Robert Peston said the move to part nationalisation will lead to huge losses for many Spanish investors who previously bought shares in the bank.

"The new management of Bankia will have to submit, as soon as possible, a fortified clean-up plan that will place it in a position to address its future with every guarantee of success," the Spanish central bank said.

The UK-wide industrial action is as a result of changes that union chiefs believe will essentially leave its members paying more and working longer.

However, the government has suggested the current pension schemes are unfair and unaffordable as people are now living longer.

At the same time, around 20,000 off-duty police officers are expected at a protest rally in London to voice their concerns over cuts.

The Public and Commercial Services union has said early signs from picket lines across the country show there is solid support for the strikes.

Gail Cartmail from the Unite union, which represents NHS workers, told BBC News members had rejected proposals from the government "by a very large majority".

"What the proposals mean is they will have to pay more, work longer and get less and they have said, by this very large majority, enough is enough," she added.