CVS, Cabot, Charming Shoppes, D.R. Horton Win 52-Week Stock Highs Wednesday

Cvs Corp. (NYSE:CVS): CVS Caremark says in Q1 achieved expected 3c per share benefit from impasse between Walgreens (NYSE:WAG) and Express Scripts (NASDAQ:ESRX). Sees Q2 positive impact of 3c-4c to EPS assuming Walgreens/Express situation remains unresolved for the duration of quarter. The shares closed at $45.92, up $1.21 or 2.71% on the day. They have traded in a 52-week range of $31.30 to $45.88.

Cabot Corp. (NYSE:CBT): Cabot Corporation, a maker of specialty chemicals and performance materials, reported yesterday night that adjusted earnings for the second quarter increased to 96c per share from 57c in the same period a year ago. The company reported that its net sales grew to $844M from $739M a year ago. Cabot’s CEO Patrick Prevost said, We are optimistic about the improving conditions in North America and China. We continue to see attractive growth in the emerging economies of Asia and South America, both in the short and long-term.” Prevost cautioned that Europe’s macroeconomic environment remains challenging, but added that the company is confident it can meet its long-term financial targets of $4.50 adjusted EPS in 2014 with adjusted return on invested capital over 13%. In afternoon trading, Cabot shares gained $1.26, or 2.93%, to $44.23. The shares closed at $44.66, up $1.69 or 3.93% on the day. They have traded in a 52-week range of $22.45 to $44.27.

Charming Shoppes (NASDAQ:CHRS): Ascena Retail Group (NASDAQ:ASNA) and Charming Shoppes (NASDAQ:CHRS) jointly announced that they have entered into a definitive agreement under which Ascena will acquire Charming Shoppes in a cash transaction valued at approximately $890M. Ascena has agreed to make a cash tender offer for all outstanding shares of Charming Shoppes common stock at a price of $7.35 per share. The tender offer is expected to commence within 10 business days. Subject to customary conditions and approvals, the transaction is expected to close during Q2. Transaction expected to be neutral or slightly accretive to Ascena’s earnings in the first full year of combined operations and increasingly accretive thereafter. The shares closed at $7.31, up $1.41 or 23.9% on the day. They have traded in a 52-week range of $2.29 to $6.38.

Calumet Specialty (NASDAQ:CLMT): Calumet Specialty Products reports Q1 EPS 53c versus consensus 49c The shares closed at $27.16, down $0.07 or 0.26% on the day. They have traded in a 52-week range of $15.99 to $27.64.

D.R. Horton (NYSE:DHI): Two House Democrats said in a letter to the acting director of the Federal Housing Finance Agency that a Fannie Mae pilot program that would have cost only $1.7M but could have provided more than $410M worth of benefits to homeowners was abruptly canceled, apparently for ideological reasons, according to The Los Angeles Times. The new documents contradict Edward DeMarco’s congressional testimony that analyses by Fannie and Freddie concluded that other forms of homeowner assistance were less costly to taxpayers, according to the lawmakers.

The shares closed at $17.22, up $0.57 or 3.42% on the day. They have traded in a 52-week range of $8.03 to $16.78.

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