Falling Stocks: OccuLogix, SigmaTron and HyperDynamics (TEAR, SGMA, HDY)

Today's biggest decliners falling 17%+ are shares of OccuLogix, Inc. (NASDAQ:TEAR), SigmaTron International (NASDAQ:SGMA), and Hyperdynamics Corp. (AMEX:HDY).

OccuLogix, Inc. (NASDAQ:TEAR) is down 28% or $1.14 heading into the last hour of trading now just under $3 a share.  Volume is screaming today at more than 1 million shares traded versus the daily average of just 34,000. The in-vitro diagnostic company said that at a special meeting on March 3, shareholders approved the sale an issuance of an aggregate of 586,217 shares of common stock, the sale and issuance of an aggregate of 772,258 shares of common stock to certain directors and officers of OccuLogix, and the issuance of 386,798 shares of common stock upon the conversion of convertible notes due 2011.

SigmaTron International (NASDAQ:SGMA) shares are down 18% today and trading at $6.  The Street was not pleased after the company posted third-quarter net income of $415 thousand or $0.11 per share compared with a net loss of $265 thousand or $0.07 per share in the same quarter last year. Net sales for the quarter increased to $30.59 million from $26.97 million in the prior year period. Net income for nine months declined to $530 thousand or $0.13 per share from $1.8 million or $0.47 per share in the year-ago period.
 

Hyperdynamics Corp. (AMEX:HDY) fell 16% to just over $1 per share on heavy volume of over 2.3 million shares.  Trading has been out-of-control on HDY shares on what appears to be traders cashing in gains after enjoying a 34% run over the past 30 days.

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