First M&F to be Acquired by Renasant and 4 Stocks Riding 52-Week Highs
Cigna Corp. (NYSE:CI): Closing price $61.35
Cigna estimates its fiscal 2013 world medical customer growth between 1 and 2 percent. Shares closed up 2.82 percent on the day at $61.35 and have been traded in a 52-week range of $39.01 to $60.89.
Delta Air Lines (NYSE:DAL): Closing price $14.86
Delta Air Lines and Starwood Hotels (NYSE:HOT) formed a comprehensive new partnership offering an exclusive new benefits program, Crossover Rewards, to Delta SkyMiles Medallion members and Starwood Preferred Guest Elite members. The program starts March 1st and bestows elite members of both loyalty programs with reciprocal benefits. Shares closed up 2.7 percent on the day at $14.86, having been traded in a 52-week range of $8.42 to $14.49.
Southwest Airlines (NYSE:LUV): Closing price $11.61
Southwest said that it flew 7.3 billion revenue passenger miles in January, marking a 1.7 percent drop from the 7.4 billion RPMs flown in January 2012. Available seat miles rose 0.5 percent to 10 billion from the January 2012 level of 9.9 billion. The January load factor was 72.7 percent, compared year-over-year to 74.3 percent from 2012, and passenger revenue per ASM is estimated to have risen about 2 percent for the same period. Shares closed up 1.22 percent on the day at $11.61 and have been traded in a 52-week range of $7.76 to $11.62.
International Flavors (NYSE:IFF): Closing price $72.66
The firm posts its fourth quarter revenue at $680.6 million with consensus of $661.01 million. On a like-for-like basis, which subtracts the exit of Flavors’ low-margin sales activities, local currency sales rose by 10 percent. Shares closed up 2.06 percent on the day at $72.66, having been traded in a 52-week range of $53.03 to $71.96.
First M & F Corp. (NASDAQ:FMFC): Closing price $11.70
Renasant Corporation will purchase First M&F Corporation. Through the terms, M&F common shareholders will receive 0.6425 shares of Renasant common stock for each share of M&F and the transaction should qualify as a tax-free reorganization for M&F shareholders. Based on Renasant’s 10-day average closing price of $19.22 as of February 4th, the total common stock consideration is roughly $118.8 million, or 119 percent of tangible book value per share. Shares closed up 38.46 percent on the day at $11.70 and have traded in a 52-week range of $3.51 to $8.99.
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