AOL and US Airways Among Stocks Achieving 52-Week Highs
AOL Inc. (NYSE:AOL): Not everybody’s happy with AOL’s management, especially not Starboard Value LP, one of the largest shareholders of AOL with ownership of approximately 5.3% of the outstanding shares. The company announced that it delivered a letter to shareholders in connection with the 2012 Annual Meeting scheduled for June 14. In it, Starboard urged shareholders to vote the GOLD proxy card to elect its three nominees Dennis A. Miller, Jeffrey C. Smith and James A. Warner in place of its incumbent directors Alberto Ibarguen, Patricia Mitchell and James Stengel. AOL shares went up 0.47% on Friday day to $27.48, and they have traded in a 52-week range of $10.06 to $27.79.
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US Airways Group Inc (NYSE:LCC): US Airways could soon be taken under the wing of AMR Corp, American Air’s parent, Reuters said, citing people familiar with the situation. However, a group of AMR Corp bondholders, including York Capital Management, King Street Capital, Marathon Capital and Pentwater Capital Management, have yet to pledge support for the proposal. Apart from the news, US Airways expects an over 50% rise in net profits due to falling jet fuel prices and the sector’s growth potential, though JPMorgan says analysts continue to substantially undervalue airline stocks. US Airways shares were up 1.15% on Friday and closed at $12.30. They have traded in a 52-week range of $3.96 to $12.23.
Quest Software (NASDAQ:QSFT): It looks like Quest Software will have its fair share of buyers soon enough. According to reports from Bloomberg, Dell is in talks to buy the company, making it just one of several who made offers for Quest after it agreed to be bought for around $2B by Insight Venture Partners. Quest shares closed at $25.15, down 0.12% on Friday. They have traded in a 52-week range of $14.61 to $26.15.
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