Highly Active Stocks: Citigroup, QCOM, Boston Scientific, Cemex, GMCR
Citigroup Inc. (NYSE:C): As Xstrata (XSRAY) and Glencore discuss a merger, each side is lining up advisers, reports Reuters. Xstrata CEO Mick Davis called Nomura (NYSE:NMR) and Goldman Sachs (NYSE:GS), with JP Morgan (NYSE:JPM) and Deutsche (NYSE:DB). Glencore CEO Ivan Glasenberg has chosen Citigroup (NYSE:C) and Morgan Stanley (NYSE:MS).
Boston Scientific Corporation (NYSE:BSX): Medical device firms reached a tentative agreement to pay the FDA $595M over five years to increase the number of federal workers who approve devices and to get new devices on the market faster, reports the Wall Street Journal. The deal is more than double the $287M the industry now pays.
QUALCOMM, Inc. (NASDAQ:QCOM): Qualcomm has been notified of an unsolicited “mini-tender” offer by TRC Capital Corp. to purchase up to 2M shares, or approximately 0.12%, of Qualcomm’s outstanding common stock at a price of $55.00 per share in cash. TRC’s offer price is approximately 4.5% below the $57.59 closing price of Qualcomm common stock on Jan. 18, the day before the offer commenced. The offer is subject to various conditions, including TRC’s ability to obtain sufficient financing necessary to fund its financial obligations arising from the offer. Qualcomm does not endorse TRC’s mini-tender offer and recommends that Qualcomm stockholders do not tender their shares since the offer is below the current market price for Qualcomm shares.
Cemex SAB de CV (NYSE:CX): Operating EBITDA increased by 13% during Q4 to $542M and increased 1% for the full year to $2.3B versus 2010.
Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR): After Green Mountain reported much stronger than expected Q1 results, Roth Capital continues to believe that the company’s sales and earnings should increase rapidly.
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