Mohawk to Purchase Spano Invest and 3 Stocks Enjoying 52-Week Highs
Mohawk Industries (NYSE:MHK): Closing price $102.77
Mohawk has reached an agreement to buy the Belgian panel board maker Spano Invest in a cash transaction for $168 million. Spano’s 2012 revenues are calcutated at$231 million. This acquisition should close in the second half of 2013, and is expected to be slightly accretive in the first full year. Shares closed up 0.29 percent at $102.77, and have been traded in a 52-week range of $59.69 to $102.52.
Roper Industries (NYSE:ROP): Closing price $118.50
In comments from slides that will be presented on the fourth quarter earnings conference call, the company estimates the fiscal year 2013 organic growth at between 3 and 5 percent, the tax rate at around 31 percent, and operating cash flow more than $775 million. Shares closed down 0.28 percent on the day at $118.50, having been traded in a 52-week range of $90.98 to $119.18.
Medtronic (NYSE:MDT): Closing price $46.49
Medtronic announced the beginning of PROMISE, a Prospective, Randomized Study of Multicolumn Implantable Lead Stimulation for Predominant Low Back Pain. This marks the first-ever, large-scale evaluation which compares the effectiveness of Medtronic neurostimulation therapy with Specify 5-6-5 multicolumn surgical leads, plus optimal medical management to the administration of OMM alone in patients with failed back surgery syndrome, and predominant low back pain. Shares closed up 0.15 percent on the day at$46.49, and have been traded in a 52-week range of $35.67 to $46.49.
Sanofi-Aventis (NYSE:SNY): Closing price $48.92
The Sanofi company Genzyme said that the FDA has accepted for review its supplemental Biologics License Application file requesting approval of Lemtrada for the treatment of relapsing multiple sclerosis. Genzyme anticipates FDA action on the application in the second half of this year. The Committee for Medicinal Products for Human Use opinion for Lemtrada is expected in the second quarter. Genzyme reported publication of results of these studies in The Lancet in November 2012. Shares closed down 0.73 percent on the day at $48.92, and have been traded in a 52-week range of $33.03 to $49.28.
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