Coke’s Diller Gets Fined, Sarepta Slides on Equity Offering and 3 More Hot Stocks
Coca-Cola Company (NYSE:KO): Despite landing in hot water with the SEC by accumulating too many shares of the company’s stock without disclosing his thirst for shares to regulators, Coca-Cola says that board member Barry Diller isn’t going anywhere. Diller will pay a $480,000 fine as settlement. Antitrust rules mandate that large purchases of stock that could affect commerce must be preceded by notifying the Federal Trade Commission or the Department of Justice.
Sarepta Therapeutics (NASDAQ:SRPT): Sarepta has recovered somewhat from a pre-market slide, after the company announcement regarding an at-the-market equity offering agreement with Further Lane Securities. Under the terms, Sarepta might sell off shares worth up to $125 million in order to fund general corporate purposes.
Toyota Motor Corp (NYSE:TM): Given that anti-Japan sentiment hasn’t receded as fast as anticipated. Toyota is looking to seriously shift its strategy in China, and instead focus its sales efforts in regions in China where there is less resentment against the company. ”Our feeling is why spend money to overcome the bias against Japanese products in northern China?” a Toyota executive said.
Restoration Hardware (RH): Shares of Restoration are sliding over 2 percent, after the home furnishing company filed a registration statement with the SEC related to an offering of 10 million shares by existing shareholders.
Pandora Media (NYSE:P): Pandora has signed a short term royalties agreement with Universal Music, rumored to feature the highest publishing royalties Pandora has ever paid. Currently, Pandora is waiting on a rate court for trade association ASCAP as it prepares to rule on a Pandora motion claiming direct deals are illegal, and that publishers should accepts the rates the court assigns for ASCAP.