Compuware Shareholders Approve Action Plan and 4 Stocks Hitting 52-Week Highs
Columbus McKinnon (NASDAQ:CMCO): Closing price $17.48
Columbus McKinnon has posted its third quarter earnings per share of 49 cents, against consensus of 29 cents. Shares closed up 7.77 percent on the day at$17.48, and have been traded in a 52-week range of $12.80 to $18.02.
Compuware Corporation (NASDAQ:CPWR): Closing price $11.57
Compuware’s board has completed its comprehensive review of the firm’s alternatives and okayed an action plan to obtain the inherent value of the company for its shareholders, as it unanimously decided that Elliott Management Corporation’s proposal to buy all outstanding shares of Compuware for $11 significantly undervalues the firm and is not in the best interest of shareholders. Actions include: Initiating a 3-year cost-cutting plan that will remove a minimum of $60 million in G&A and non-core operational expenses, with at least $20 million realized in fiscal year 2014. Shares closed up 7.53 percent on the day at $11.57, having been traded in a 52-week range of $7.50 to $11.33.
Cree (NASDAQ:CREE): Closing price $41.97
Cree LED lighting revenues are expected to comprise 38 percent of total revenues this year, after the firm’s lighting revenues accounted for 28.7 percent of its total revenues in 2012, says DigiTimes Research. Shares closed up 2.27 percent on the day at $41.97, and have been traded in a 52-week range of $22.25 to $41.42.
Nexstar Broadcasting Group (NASDAQ:NXST): Closing price $14.04
Nexstar said that its board authorized the initiation of a regular quarterly cash dividend of 12 cents per share of its Class A and Class B common stock, with the first dividend payable on Friday, March 1st, to shareholders of record as of February 15th. Shares closed up 4.78 percent on the day at $14.04, having been traded in a 52-week range of $6.00 to $13.40.
Providence And Worcester Railroad Company (NASDAQ:PWX): Closing price $16.33
Morris Propp purchases a 5.09 percent passive interest in Providence and Worcester Railroad. Shares closed down 2.86 percent on the day at $16.33, and have been traded in a 52-week range of $11.51 to $16.82.