Apple Inc, Calpine, Par Pharma, Great Wolf Achieve 52-Week Stock Price Highs

Apple Inc. (NASDAQ:AAPL): Jefferies raised its 2013 earnings estimate for Apple to $53.98 from $49.20, above the consensus estimate of $49.38, citing increased confidence in the iTV launch. Jefferies expects Apple to sell 2M televisions in Q4 and 10M in 2013. The firm upped its price target for shares to $800 and reiterates a Buy rating on Apple. The shares closed at $633.68, up $9.37 or 1.5% on the day. They have traded in a 52-week range of $310.50 to $634.66.

American Realty Capital (ARCT): American Realty Capital Trust announced it has been upgraded to a Ba2′ credit rating with a stable outlook by Moody’s Investor Service. The shares closed at $10.86, up $0.37 or 3.53% on the day. They have traded in a 52-week range of $5.54 to $10.99.

Calpine Corp. (NYSE:CPN): Wisconsin Power and Light Company, a subsidiary of Alliant Energy (NYSE:LNT), has received approval from the Public Service Commission of Wisconsin to purchase the Riverside Energy Center from Riverside Energy Center, a subsidiary of Calpine (NYSE:CPN), for approximately $392M. The shares closed at $17.51, up $0.03 or 0.17% on the day. They have traded in a 52-week range of $12.70 to $17.63.

Par Pharmaceutical (NYSE:PRX): Par Pharmaceutical announced that it began shipping all strengths of modafinil tablets, a generic version of Teva’s (NASDAQ:TEVA) Provigil brand. Par’s initial shipments will comprise generically-labeled presentations of the Provigil product. Par acquired the U.S. marketing rights to modafinil from Teva in connection with Teva’s acquisition of Cephalon in 2011. According to IMS Health data, annual sales in the U.S. for Provigil are approximately $1.1B. The shares closed at $40.92, up $1.6 or 4.07% on the day. They have traded in a 52-week range of $24.85 to $41.98.

Great Wolf Resorts (NASDAQ:WOLF): HG Vora Capital, owners of 12.34% of Great Wolf’s outstanding shares, said in a letter to the company, “We have carefully analyzed Great Wolf’s assets, liabilities, free cash flow profile, opportunities for growth and prospective valuation across a range of scenarios and have expressed our view to the Company and its advisors that the current Apollo offer of $5 per share is inadequate. We have yet to receive a satisfactory explanation from the Company for why it found the Apollo offer compelling and we are concerned that the Company may have a materially different view on a wide range of issues, including corporate valuation, recapitalization opportunities and the potential appeal of a hotel business that is well positioned to distribute large, recurring future dividends once the capital structure is optimized…The unsolicited offer recently announced by KSL Capital Partners to acquire the Company at $6.25 per share provides further validation of our analysis and is a step in the right direction.” The shares closed at $6.58, up $0.88 or 15.44% on the day. They have traded in a 52-week range of $2.04 to $6.65.

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com