Glaxosmithkline Plc (NYSE:GSK): GlaxoSmithKline announced that it has reached agreement to divest the previously identified non-core OTC brands in its international markets to Aspen Pharmacare Holdings Limited for GBP164M in cash. The brands being divested include Phillips MOM, Solpadeine, Dequadin, Cartia and Zantac, and generated sales of approximately GBP60M in 2011. It is expected the divestment will complete in Q2 2012, subject to regulatory approvals. The net cash proceeds from the transaction are expected to be approximately GBP135M. These are expected to be returned to shareholders during 2012. The shares closed at $47.29, up $0.6 or 1.29% on the day. They have traded in a 52-week range of $38.76 to $46.94.
Kimberly-Clark Corp. (NYSE:KMB): The company reconfirmed its key planning and guidance assumptions for FY12 that were previously communicated January 24. The company also updated portions of its input cost assumptions: The company continues to expect that the impact of changes in key commodity cost inputs will be in a range of $50M of deflation to $50M of inflation. Overall pulp costs are expected to be somewhat lower than previously expected. Total costs for non-fiber raw materials and distribution expenses are anticipated to be somewhat higher than originally projected, primarily because the company has increased its full-year average oil price assumption to $100-$110 per barrel from $95-$105 per barrel. The shares closed at $76.47, up $1.2 or 1.59% on the day. They have traded in a 52-week range of $61.00 to $75.77.
Smith [A.O.] Corp. (NYSE:AOS): Company said “Based on what we have seen so far this year, we have increased our estimate EPS for FY12 to $2.75-$2.90. This range does not include the potential impact from any future acquisitions or the first quarter gain related to the RBC shares. Our previously announced disciplined acquisition strategy continues to progress. We have the human capital, well-established processes, and the financial resources to manage additional acquisitions that will create value for our shareholders. We continue to seek water heating, boiler and water treatment companies in fast-growing geographies, as well as companies with new technologies or adjacencies to our core business.” The shares closed at $47.18, up $2.69 or 6.05% on the day. They have traded in a 52-week range of $29.81 to $47.08.
Carter’s (NYSE:CRI): Matrix Capital reported a 5.05% passive stake in Carter’s. The shares closed at $51.09, up $0.58 or 1.15% on the day. They have traded in a 52-week range of $27.44 to $51.43.
Eastern Virginia Ban (NASDAQ:EVBS): Eastern Virginia Bankshares reported Q1 EPS 7c versus one estimate 2c. The shares closed at $4.02, up $0.37 or 10.14% on the day. They have traded in a 52-week range of $1.50 to $3.99.
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