Covidien’s Mallinckrodt to Acquire CNS Therapeutics and 4 Stocks Enjoying 52-Week Highs
BioClinica, Inc (NASDAQ:BIOC): Sanofi intends to utilize OnPoint CTMS for all clinical trial management activity. Shares of BioClinica closed up 4.93 percent on the day at $6.39, having been traded in a 52-week range of $4.10 to $6.16.
Comcast Corporation (NASDAQ:CMCSA): WWE has reached an exclusive, multi-year contract that will bring WWE programming to Hulu Plus, beginning Monday. Hulu Plus will now offer WWE fans additional content, unlimited instant streaming access, and programming on-the-go, as it becomes the exclusive site for next-day access to all WWE TV programming. Shares closed up 0.58 percent at $36.43, and have been traded in a 52-week range of $19.72 to $36.54.
Covidien Plc.’s (NYSE:COV) pharmaceuticals division, Mallinckrodt, will purchase CNS Therapeutics, Inc., which is a private equity specialty pharmaceutical firm that concentrates on developing and commercializing products for site-specific administration to the central nervous system to treat neurological disorders and intractable chronic pain. All of the outstanding capital stock will be purchased of CNS Therapeutics, which is based in St. Paul, Minnesota, for about $100 million. The transaction should close during the fourth calendar quarter. At this time CNS has one marketed product and a diverse pipeline of pain and spasticity products that are in development. If the transaction closes when expected, Covidien does not expect it to have a material impact on its fiscal 2013 sales or earnings per share. Shares closed up 0.94 percent on the day at $60.33, having been traded in a 52-week range of $41.35 to $59.84.
Google Inc. (NASDAQ:GOOG): Apple’s (NASDAQ:AAPL) iPhone 5 lacks near field communication technology, or NFC, which will induce its competitor handset makers to rush to become priority partners for launching NFC-enabled applications as a differentiator, says DigiTimes. Already, Samsung (SSNLF) has acquired the greatest number of NFC-related partner projects in Europe and Asia, while Research In Motion Limited (NASDAQ:RIMM) leads the field in the establishment of NFC ties with the business sector. Google shares closed up 2.1 percent on the day at $749.38, and have been traded in a 52-week range of $480.60 to $734.92.
Lennar Corporation (NYSE:LEN) Chief Executive Stuart Miller commented that, “The housing market has stabilized and the recovery is well underway. Low mortgage rates, affordable home prices, increased buyer confidence and an extremely favorable rent-to-own comparison are driving growth in each of our markets. Additionally, reduced foreclosures and declining distressed home inventory are further contributing to the improvement in the housing market.” Shares closed down 1.47 percent on the day at $36.96, having been traded in a 52-week range of $12.14 to $37.88.
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