CVR Energy, Ecolab, Luxottica Hit 52-Week Highs May 7th
Cvr Energy Inc. (NYSE:CVI): Carl Icahn announced that shares of common stock of CVR Energy were validly tendered pursuant to the offer by his affiliates to acquire CVR for $30 per share plus a contingent value right. As all of the terms and conditions of the offer have been satisfied, Icahn’s affiliates have accepted for payment all of the tendered shares, which represent approximately 63% of all CVR shares held by shareholders unaffiliated with Mr. Icahn. Upon the purchase of these shares, which will occur today, the Icahn group will own approximately 69% of CVR’s outstanding shares. The shares closed at $30.35, up $0.3 or 1% on the day. They have traded in a 52-week range of $16.62 to $30.51.
Cinemark Holdings (NYSE:CNK): Cinemark reported Q1 EPS 37c versus consensus 34c. The shares closed at $23.68, up $0.59 or 2.56% on the day. They have traded in a 52-week range of $17.10 to $23.26.
Ecolab Inc. (NYSE:ECL): Ecolab Inc. announced that it has entered into a stockholder agreement with Cascade Investment, L.L.C. and the Bill & Melinda Gates Foundation Trust related to their investments in Ecolab. Ecolab has amended its stockholder rights plan so that Cascade and the Foundation Trust would in the future be able to acquire up to 25% of Ecolab’s outstanding shares. Cascade currently holds 27,001,348 shares, or 9.3%, and the Foundation Trust currently holds 4,366,425 shares, or 1.5%, of Ecolab’s outstanding shares. Under the agreement, if Cascade and the Foundation Trust own in the aggregate 15% or more of the outstanding Ecolab shares, Cascade and the Foundation Trust have agreed not to seek control of, or encourage others to seek control of, the company or the Board of Directors, and accordingly they will support the Ecolab Board’s director nominees as long as a Cascade representative is given the opportunity to serve as a director. The shares closed at $64.96, up $1.45 or 2.28% on the day. They have traded in a 52-week range of $43.81 to $64.14.
Luxottica Group S (NYSE:LUX): The company sees rapid growth trends in both of Luxottica’s divisions in all of the geographic areas where the group operates. The first quarter of 2012 was the best first quarter in Luxottica history. The shares closed at $37.41, up $0.86 or 2.35% on the day. They have traded in a 52-week range of $23.99 to $36.78.
Synacor Inc. (SYNC): Syncaor’s (SYNC) stock growth of 42% last week raises a caution flag on some “monkey business”, reports BuffaloNews.com. David Robinson cites that the jump followed a recommendation that came from Jonathan Lebed, who was accused of pumping up the price of several companies a decade ago. The shares closed at $13.10, up $1.71 or 15.01% on the day. They have traded in a 52-week range of $4.75 to $8.24.
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