Cereplast Inc (PINK:CERP) up by 57.21% after its revenue increases- NBG

Cereplast Inc (PINK:CERP) shares trading at $0.0338, trading up sharply 57.21%. Cereplast develops and sells bio-based resins through two products that include Cereplast Compostable Resins and Cereplast Sustainable resins. Cereplast Compos tables are compostable and environmentally sound alternatives for petroleum-based plastics, while Cereplast Sustainable resins replaces up to 90% of the traditional plastics’ petroleum-based content with renewable materials. Cereplast recently joined a not-for-profit Algae Biomass Organization to promote the development of commercial markets for renewable commodities derived from algae. The company also announced the formation of a new subsidiary, Algaeplast Inc. The company appointed Michael Okada as its new chief financial officer. Cereplast received purchase orders from customers in India, and the company anticipates their investments in this market will turn into additional orders and will reflect in future revenue in 2013. Cereplast net revenue for the year ended December 31, 2012 was $0.9 million, compared to $20.3 million last year.  It expects its revenue in the first quarter of 2013 to $1 million, exceeding total sales for the full year of 2012.

National Bank of Greece (ADR) (NYSE:NBG) shares trading at $0.731, trading down 3.18%. National Bank of Greece is a Greece-based bank that offers integrated financial services. The Bank’s branch and ATM network consists of 570 banking units and 1,472 ATMs, throughout Greece. After acquisitions in SE Europe and Eastern Mediterranean, NBG’s network includes 1,189 units overseas. In February, the bank announced the acquisition of 84.35% stake in Eurobank Ergasias SA. However, the NBG-Eurobank merger deal drew lot of criticism in the country. As a result, the deal has been halted as of now, as the banks failed to raise to raise the private capital. The deal raised concerns among the associations in the country, which believed that the merger would create a much bigger bank compared to Greece’s economy and thus, it would be difficult to sell the bank in future. Further to this incident, National Bank said it will issue new shares, with an aim to have recapitalization plan approved by stockholders by April 29, 2013.

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