Cyberonics’ Qui Tam UNSEALED and 4 Stocks Enjoying 52-Week Highs
Brown Shoe Company (NYSE:BWS) sees its FY effective tax rate at 38 percent to 40 percent, and its CapEx is$58 million to $63 million. The shares closed at $14.27, down $1.13 on the day. They have traded in a 52-week range of $5.85 to $15.59.
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Cyberonics (NASDAQ:CYBX): In a regulatory filing, Cyberonics disclosed that on July 24, the United States District Court for the District of New Jersey unsealed a qui tam action that was filed against Cyberonics beneath the Federal False Claims Act and the false claims statutes of 21 different states. A qui tam action is a lawsuit that is brought by a private individual purporting to act on behalf of the government. The company stated that the United States Department of Justice declined to intervene in this qui tam action, which was filed under seal on March 9, 2010 by Stefan P. Kruszewski, M.D., but it still reserved the right to do so in the future. As of August 27, the company claimed that it has not been served with the complaint. The lawsuit alleges that Cyberonics violated the FCA along with numerous state false claims statutes while it marketed its VNS Therapy System for the treatment of chronic treatment-resistant depression and seeks an unspecified amount including treble damages, civil penalties, and attorneys’ fees. The shares closed at $46.36, up $1.03 or 2.27% on the day. They have traded in a 52-week range of $26.19 to $47.39.
Equinix (NASDAQ:EQIX) is to significantly extend its operational relationship with the Amsterdam Internet Exchange, which is one of the world’s largest single metro area Internet exchanges. AMS-IX is to establish a customer PoP in Equinix’s new 17,800 square meter AM3 International Business Exchange data center in the Amsterdam Science Park, is scheduled to be opened during Q3 2012. Furthermore, AMS-IX is to deploy a new AMS-IX core node at the existing Equinix AM1/AM2 data center campus in Amsterdam. The shares closed at $198.06, up $1.92 or 0.98% on the day. They have traded in a 52-week range of $82.43 to $197.83.
H.J. Heinz Company (NYSE:HNZ): Chairman, President and CEO William R. Johnson stated that the expected Q1 results would show dynamic growth within Emerging Markets on top of improved productivity, higher margins, and a favorable tax rate. He mentioned that Heinz achieved growth in earnings per share during the quarter although there were headwinds of a still weak economy along with adverse foreign currency trends that lowered EPS by about four cents. The shares closed at $57.41, up $0.95 or 1.68% on the day. They have traded in a 52-week range of $48.54 to $56.59.
Harris Corp. (NYSE:HRS) was awarded a 15-year, $291 million contract to provide the communications network which is to be the cornerstone of NextGen, the Federal Aviation Administration’s initiative to transform the U.S. air traffic control system to meet future requirements. Harris is to provide a secure, Internet Protocol-based voice communications network based on its VCS21 family of commercial off-the-shelf voice communication solutions. The shares closed at $47.28, up $0.26 or 0.55% on the day. They have traded in a 52-week range of $32.68 to $47.13.
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