Raytheon Acquires SafeNet Division and 2 Stocks Riding 52-Week Highs
Misonix (NASDAQ:MSON) reports the termination of its distribution arrangement with Aesculap for the Misonix BoneScalpel Ultrasonic Bone Cutting System. Under the non-exclusive distribution terms, Aesculap maintains the right to sell BoneScalpel disposables to certain limited hospital accounts, post termination, that are covered by binding supply agreements for varying periods of time, but not in excess of 3 years. An additional aspect of the cancellation requires Misonix to buy all hardware inventory still in Aesculap’s possession, which will feature prominently in the firm’s plans to support its rapidly growing proprietary sales organization with equipment for sales, demonstration and evaluation purposes. Shares closed up 7 percent on the day at $7.49, having been traded in a 52-week range of $1.60 to $7.09.
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Raytheon Company (NYSE:RTN) purchases the government solutions division of privately-held SafeNet, which is a data security firm. Financials of the transaction were not reported and it will not materially impact Raytheon’s total company sales or earnings per share for either the fourth quarter, or fiscal year 2013. Shares closed down 0.02 percent on the day at $58.14, and have traded in a 52-week range of $44.79 to $58.68.
Siemens (NYSE:SI) could see big opportunities in China’s booming cities for its new infrastructure and city unit, said Chief Executive Mei-Wei Cheng of Siemens North East Asia on Tuesday, according to China Daily. Shares closed up 0.24 percent on the day at $106.83, having been traded traded in a 52-week range of $77.88 to $107.16.
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