Safeway Inc. (NYSE:SWY): Current price $30.52
Safeway shares are up by more that 7 percent Tuesday morning in heavy volume as the grocer reported a one-year stockholder rights plan, which includes the activation of a poison pill should a person or group purchase 10 percent or more of its outstanding common stock, or 15 percent or more in a passive institutional investor situation.
The company said that it made the announcement after it “became aware of an accumulation of a significant amount of the common stock of the company.” Without identifying the investor, Safeway said the poison pill will help foster “fair and equal treatment” of all stockholders. Through the plan, one preferred stock purchase right will be distributed for each share of common stock held as of September 30, according to a Tuesday statement.
Dendreon Corp. (NASDAQ:DNDN): Current price $3.21
On Tuesday, Dendreon announced that the European Commission will allow marketing authorization for Provenge (autologous peripheral blood mononuclear cells activated with PAP-GM-CSF or sipuleucel-T) dispersion for infusion in the European Union for the treatment of asymptomatic or minimally symptomatic metastatic (non-visceral) castrate-resistant prostate cancer in adults in whom chemotherapy is not yet clinically indicated. This final decision by the Commission follows recent positive opinions from both the European Medicines Agency Committee for Advanced Therapy, and the Committee for Medicinal Products for Human Use recommending that Provenge be granted marketing authorization in the EU.
Ford Motor Co. (NYSE:F): Current price $17.38
According to The Fly on the Wall, Inc., Ford indicated via conference presentation slides that it is now developing its mid-decade outlook. The automaker’s outlook includes roughly 8 million wholesale volumes, improving revenue and pricing, world automotive margins of between 8 and 9 percent, Ford Credit return on equity in high single digits, and capital spending at around $7.5 billion.
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