Cracker Barrel SHOOTS Down Nominations and 4 Stocks Jumping to 52-Week Highs
Astex Pharmaceutical (ASTX), Cancer Research Technology Limited, and The Institute of Cancer Research, London, have begun a collaboration to discover and develop drug candidates that target an undisclosed epigenetic target in a blood cancer with high unmet medical need. The shares closed at $3.10, up $0.03 or 0.98% on the day. They have traded in a 52-week range of $1.51 to $3.17.
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Brocade Communicatio (NASDAQ:BRCD): According to contacts, Brocade is predicted to test a possible sale of the company again, citing sources. The first story was tagged as Broadcom, which was not correct. The shares closed at $6.16, up $0.11 or 1.73% on the day. They have traded in a 52-week range of $3.55 to $6.17.
Anheuser-Busch Inbev (NYSE:BUD): IBM (NYSE:IBM) announced that Anheuser-Busch InBev (NYSE:BUD) expanded its relationship to make use of the company’s global supply management capabilities in cloud-based e-sourcing solutions. AB inBev signed a new five-year contract for the extension of its use of IBM Emptoris solutions in the cloud to assist streamline supplier sourcing and contract management. The shares closed at $87.54, up $1.25 or 1.45% on the day. They have traded in a 52-week range of $49.08 to $86.89.
Cracker Barrel Old (NASDAQ:CBRL) confirmed that it offered Sardar Biglari the opportunity to nominate two independent directors to its Board. The Company received notice of Mr. Biglari’s intent to nominate himself and Philip L. Cooley for election to the Company’s Board of Directors at the Company’s Annual Meeting on November 15, 2012. In a letter that was sent to Mr. Biglari earlier this week, the Company stated: The Board has considered your request thoroughly and has concluded, due to concerns about potential conflicts of interest and legal issues given your roles with Steak n Shake, as well as other issues, not to appoint you and Phil to the Board. However, in an effort to be constructive and avoid another proxy contest, the Board has authorized us to make the following settlement offer. The letter continues, We would add to our Board of Directors two independent directors nominated by Biglari Holdings. The nominees would need to be unaffiliated with Biglari Holdings, not be executive officers or directors of any other restaurant company that competes with Cracker Barrel, and otherwise comply with Cracker Barrel’s stated qualification criteria for directors. The Company stated that that it is disappointed that yet again Mr. Biglari has refused to consider a reasonable settlement offer. The shares closed at $64.50, up $1 or 1.57% on the day. They have traded in a 52-week range of $37.31 to $64.50.
Cedar Shopping Cente (NYSE:CDR): Cedar Realty Trust announced that it reached agreement with RioCan Real Estate Investment Trust to exit the 20 percent Cedar / 80 percent RioCan joint venture which owns 22 retail properties. The shares closed at $5.77, up $0.16 or 2.85% on the day. They have traded in a 52-week range of $2.65 to $5.75.
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