Cedar Fair Reports Record Results and 4 Stocks Reaching 52-Week Highs

Cedar Fair L.P. (NYSE:FUN): Cedar Fair Entertainment reported record financial results for its Q3, which ended on September 30, and it announced that the company’s board has approved an increase to its 2013 annual distribution rate from $1.60 per limited partner, or LP, unit in 2012 to $2.50 per LP unit in 2013. The shares closed at $36.99, up $1.19 or 3.32 percent on the day. They have traded in a 52-week range of $21.21 to $36.48.

Great Lakes Dredge (NASDAQ:GLDD): The company stated, “We entered the Q4 with scheduled revenues and margin to achieve our previously stated annual goals. Since then the epic Hurricane Sandy has had a significant impact on our expected results for the Q4 as we will have lost a total of 25 working days over seven projects because we were forced to move our dredges and support equipment to protected waters. Our operations team and crews did a wonderful job of executing our emergency plans safely and efficiently. We were able to ride out Sandy with minimal damage to our operating equipment and have gotten the projects back up and running quickly. We currently estimate approximately $6 million of revenue and $3 million of gross margin has been pushed into next year, and we will incur $3 million of additional one time expenditures in the Q4 due to the storm. We have therefore modified our projected full-year adjusted EBITDA range to $85 to $90 million.” The shares closed at $8.22, up $0.05 or 0.61 percent on the day. They have traded in a 52-week range of $5.05 to $7.90.

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Internationa Flavors (NYSE:IFF): The company claimed, “IFF’s operations were impacted by Hurricane Sandy, resulting in short-term disruptions in power, manufacturing and information technology systems. Most of these disruptions have been resolved, due to the rapid response of our employees in implementing our disaster recovery plan. As a result, orders are being processed and shipped from all of our sites, and all our critical business systems are operational. We are currently assessing the costs and other impacts resulting from the hurricane, and we do not expect them to have a material financial impact on our Q4 results. Excluding these costs and other potential financial impacts, we expect our adjusted EPS to be in-line with consensus for the Q4.” The consensus estimate is 83c. The shares closed at $64.33, down $0.99 or 1.52 percent on the day. They have traded in a 52-week range of $51.20 to $63.23.

Liberty Media Corp. (NASDAQ:LINTA) has reported an adjusted OIBDA for Q3 that saw a 5 percent increase bringing it to $397 million, and operating income dropped 14 percent to $193 million. The increase in adjusted OIBDA for the quarter resulted from favorable results at QVC, offset by unfavorable results at the eCommerce companies. The operating income drop for the quarter mainly resulted from unfavorable results at the eCommerce companies along with the impairment of goodwill of one of the eCommerce companies during the quarter, the company stated. The shares closed at $20.49, up $0.03 or 0.15 percent on the day. They have traded in a 52-week range of $15.01 to $20.94.

L-3 Communications’ (NYSE:LLL) Security and Detection Systems division was given an award from the Transportation Security Administration to supply the second generation of Advanced Imaging Technology systems. The indefinite-delivery, indefinite-quantity contract is valued up to $245 million. Beneath this contract, L-3 is to supply its new Provision 2 system to TSA. Provision 2 is a reduced-size personnel screening system giving the same image-free threat detection capabilities and safe millimeter wave technology as ProVision ATD system. The shares closed at $77.46, up $1.61 or 2.12 percent on the day. They have traded in a 52-week range of $62.42 to $76.19.

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