Hot Stock Catalysts: Zillow, Concur Tech, GMCR and More
Kensey Nash Corporation (NASDAQ:KNSY) says that under a definitive agreement, Royal DSM (NYSE:DSM) has agreed to purchase all of its common stock through a cash tender offer. The transaction will be followed with a merger with a subsidiary of DSM, for $38.50 per share in cash, which will be begun in this month and is expected to be completed as of June 30. Kensey’s Board has unanimously approved the acquisition and recommends that stockholders follow suit.
Zillow Inc (NASDAQ:Z) spokesperson Spencer Rascoff is speaking on CNBC.
Liquidity Services, Inc. (NASDAQ:LQDT) says that volatility is present in both the macro environment and its potential impact on the retail supply chain and GDP growth. Further, the firm intends to pay for major upgrades in tech infrastructure to support further integration of existing businesses and online marketplaces.
Concur Technologies, Inc. (NASDAQ:CNQR) shares soar to new all-time highs, after handily beating the consensus for the fiscal second quarter earnings per share, and posting year-to-year booking increases of 35 percent. In addition, fiscal third quarter guidance of 31 cents beats estimates of 20 cents, although its sales guidance is primarily in-line. Jefferies maintains its Hold, and thinks that Concur’s huge sales investments could reinforce stronger organic growth in its fiscal year 2013.
Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR) shares fall over the cliff (-39.1 percent midday), following the coffee company’s fiscal second quarter surprise. The megaslide cuts more than a billion dollars from GMCR’s market cap: SunTrust and Piper Jaffray cut shares to Neutral, but Janney reiterates its Buy, looking at the self-admitted “moderate” growth from a company that wants to be known for Growth.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.
Don’t Miss: Protesters Air Bank of America’s Dirty Laundry.