Accretive Health, Goldcorp, Groupon, Ldk Solar, Panasonic Drop to 52-Week Lows Monday
Groupon Inc (NASDAQ:GRPN): Starbucks (NASDAQ:SBUX) Chairman and CEO Howard Schultz and Accel Partners’ Kevin Efrusy will be stepping down from the board of directors at Groupon (NASDAQ:GRPN), with the pair to be replaced by new directors with more fiscal oversight experience, according to AllThingsD, citing sources. The shares closed at $10.71, down $1.27 or 10.6% on the day. They have traded in a 52-week range of $11.02 to $31.14.
Accretive Health (NYSE:AH): Accretive Health filed a motion to dismiss the Minnesota Attorney General’s Complaint in federal district court in Minnesota. The motion denies the Attorney General’s claims and requests that the Court dismiss the complaint, in its entirety, with prejudice. As stated in the motion, the company believes the Attorney General’s First Amended Complaint includes allegations that are factually baseless and legally indefensible. Accretive said the motion includes the following grounds for dismissing the case: The core of this case involves the criminal theft of a password-protected laptop; On February 3, Accretive Health entered into a Consent Order with the Minnesota Department of Commerce to address its debt collection practices in Minnesota; and the Attorney General’s consumer fraud claims are baseless in fact and law, according to the company. The shares closed at $10.06, up $0.73 or 7.82% on the day. They have traded in a 52-week range of $9.29 to $32.82.
Goldcorp Inc. (NYSE:GG): Goldcorp announced that the Supreme Court of Chile issued a decision on April 27 suspending the approval of the environmental permit for the El Morro copper-gold project. The approval was issued on March 14. The ruling states that the permit is suspended until such time as certain deficiencies specifically identified in a paragraph of the Antofogasta Court of Appeals decision are corrected by the Chilean environmental permitting authority. Sociedad Contractual Minera El Morro, which is owned 70% by Goldcorp and 30% by New Gold Inc., immediately suspended all project field work being executed under the terms of the permit. Safety and security staff will continue to work to protect the public, project equipment and facilities under construction. Activities not related to site construction, such as detailed engineering, design work and architectural planning, will remain underway. El Morro will meet with SEA officials to confirm the scope of permitted activities pending SEA’s compliance with the court’s decision. The shares closed at $38.26, down $0.86 or 2.2% on the day. They have traded in a 52-week range of $38.17 to $56.31.
Ldk Solar Co. Ltd (NYSE:LDK): Sees FY12 which shipments to 3rd party customers between 6,000 MT and 8,000 MT, wafer production between 2.7 gigawatts, or GW, and 3.3 GW, of which shipments to 3rd party customers are expected to be between 1.5 GW and 2.0 GW, in-house cell production between 1.2 GW and 1.6 GW, and module production between 1.2 GW and 1.6 GW, with cell and module shipments to 3rd party customers between 1.0 GW and 1.3 GW and inverter shipments between 200 MW to 250 MW. LDK Solar expects PV system project construction to be in the range of 400 MW to 600 MW and to recognize between 270 MW and 360 MW through project sales and EPC services for 3rd party customers. The shares closed at $3.18, up $0.22 or 7.43% on the day. They have traded in a 52-week range of $2.55 to $11.63.
Panasonic Corp. (NYSE:PC): Astronics Corporation (NASDAQ:ATRO) announced that its wholly-owned subsidiary, Astronics Advanced Electronic Systems Corp., and Panasonic Avionics Corporation (NYSE:PC) have signed a multi-year Master Supply Agreement for Astronics’ world-leading EmPOWER In-Seat Power Systems that are installed with Panasonic’s In-Flight Entertainment and Connectivity Systems. The shares closed at $7.65, down $0.01 or 0.13% on the day. They have traded in a 52-week range of $7.59 to $12.67.
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