Morning Market Movers

MediciNova MNOV rose 87.86% to $4.04 after the company reported positive results for MN-001. Ocean Power Technologies OPTT jumped 43.44% to $3.17 after the company announced a funding agreement with Australian government for A$66.5 million grant. Echelon ELON moved up 30.84% to $2.97 after Google GOOG announced its plans to acquire Nest Labs for $3.2 billion. Control4 CTRL shares jumped 17.65% to $21.80. Control4's PEG ratio is 2.99.