Barnes & Noble, Sunoco, Gen-Probe Among Big Stock Price Percentage Winners April 30th
Barnes & Noble, Inc. (NYSE:BKS): After Microsoft (NASDAQ:MSFT) agreed to invest $300M for a 17.6% stake in Barnes & Noble’s (NYSE:BKS) nook and college business, Gabelli thinks that a spin-off of that business is more likely. Gabelli’s private market value estimate for Barnes & Noble is $31 per share. The shares closed at $20.75, up $7.07, or 51.68%. They have traded in a 52-week range of $9.35 to $18.73.
Sunoco, Inc. (NYSE:SUN): Citigroup said Sunoco could receive a higher bid from companies that would have greater synergies with SUnoco (NYSE:SUN) such as Enbridge Energy (NYSE:EEP)/Enbridge (NYSE:ENB), Marathon Petroleum (MPC), Plains All American (NYSE:PAA), and TransCanada (NYSE:TRP). The firm raised its price target to $55 from $51 and reiterates its Buy rating. The shares closed at $49.29, up $8.38, or 20.48%. They have traded in a 52-week range of $27.76 to $43.43.
Gen-Probe Incorporated (NASDAQ:GPRO): Piper Jaffray views Hologic’s acquisition price for Gen-Probe as fair and expects no competitive bids to emerge. The shares closed at $81.55, up $12.84, or 18.69%. They have traded in a 52-week range of $53.92 to $86.96.
Warner Chilcott Plc (NASDAQ:WCRX): In connection with the announcement of the Court’s non-infringement determinations, the company expects to record an impairment charge in the range of $90M-$108M related to its DORYX intangible asset, which had a book value of $111M as of December 31, 2011. This charge is expected to materially reduce the company’s 2012 GAAP net income. In addition, the company is reviewing Mylan’s claims for damages resulting from the issuance of the temporary restraining order. An estimate of the range of potential loss, if any, resulting from such claims is not possible at this time. The company expects to include the impact of the DORYX impairment charge and update its revenue, adjusted cash net income and other items included in its full 2012 financial guidance when it reports its first quarter financial results on Friday, May 4. The shares closed at $21.81, up $3.02, or 16.07%. They have traded in a 52-week range of $12.90 to $25.92.
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