Morning Market Movers (UCBI, MAXY, SWS, FTK)

United Community Banks Inc UCBI shares surged 30.72% to $2.00 at 9:52 am. UCBI announced its plans to raise $380 million in capital and offload $435 million in bad assets.

Maxygen Inc MAXY shares advanced 26.76% to $5.21. Astellas Pharma Inc announced its plans to purchase MAXY's stake in autoimmune therapy joint venture Perseid for $76 million.

SWS Group Inc SWS jumped 21.50% to $5.99. SWS shares have dipped 59.22% over the past 452 weeks, while the S&P 500 index has gained 7.77% in the same period.

Flotek Industries Inc FTK climbed 17.46% to $6.19. FTK reported a 30.6% y/y surge in 2010 revenue.

Read more from Benzinga's Markets.