Seadrill Declares Quarterly Distribution and 4 Stocks Enjoying 52-Week Highs
Dr. Reddy’s Laboratories (NYSE:RDY): Closing price $36.02
The firm said that it has introduced Desloratadine Orally Disintegrating Tablets, or ODT, which is a bioequivalent generic version of Clarinex Reditabs in the domestic market on January 24th, with its ANDA for Desloratadine ODT okayed by the FDA. The Clarinex Reditabs brand saw domestic sales of about $5.3 million for the most recent twelve months ending in November, according to IMS Health. Shares closed up 0.28 percent on the day at $36.02, and have been traded in a 52-week range of $27.28 to $36.00.
Raymond James Financial (NYSE:RJF): Closing price $44.29
The firm posted its fourth quarter revenue of $1.11 billion, on consensus of $1.08 billion on January 23rd. Shares closed up 1.3 percent at $44.29, having been traded in a 52-week range of $30.99 to $43.90.
Seadrill Partners (NYSE:SDLP): Closing price $28.47
Seadrill’s board has declared a quarterly cash distribution with respect to the quarter ended December 31st, of 29.06 cents per unit, which was prorated for the period commencing October 24th, which was the closing date of Seadrill Partners IPO, and ending December 31st. The distribution corresponds to a quarterly distribution of 38.75 cents per outstanding unit, or $1.55 on an annualized basis, and will be paid on February 14th to all unitholders of record as of the close on February 4th. Shares closed up 1.1 percent on the day at $28.47, and have been traded in a 52-week range of $22.90 to $28.45.
Seattle Genetics (NASDAQ:SGEN): Closing price $30.30
Seattle Genetics has posted interim results from a phase I clinical trial evaluating ASG-5ME for the treatment of metastatic pancreatic ductal adenocarcinoma at the American Society of Clinical Oncology 2013 Gastrointestinal Cancers Symposium that was held January 24-26 in San Francisco. ASG-5ME is an antibody-drug conjugate which targets the SLC44A4 antigen and is being co-developed by Seattle Genetics and Agensys, an affiliate of Astellas Pharma, for the treatment of solid tumors. The phase I data from the ASG-5ME clinical trial in advanced pancreatic cancer identified the largest tolerated dose for weekly administration, exhibited tolerability and gave preliminary evidence for antitumor activity. Enrollment of PDA patients to this ASG-5ME phase I trial has been finalized. Shares closed up 2.36 percent on the day at $30.30, having beentraded in a 52-week range of $17.09 to $30.27.
Sunstone Hotel Investors (NYSE:SHO): Closing price 11.76
Sunstone Hotel will divest a four-hotel, 1,222-room portfolio and commercial laundry facility in Rochester, Minnesota at an aggregate price of $230 million. At the same time with the Rochester Portfolio sale, the firm will defease the outstanding $26.7 million mortgage secured by the 660-room Kahler Grand hotel at a total cost of around $30 million, and has prepaid the $400,000 loan secured by the laundry facility. Further, Sunstone expects to retain a $25 million, 11 percent-dividend yield preferred equity investment in the four hotels, and anticipates receiving initial net proceeds of roughly $165 million, subject to final closing costs, from the divestiture of the Rochester Portfolio. The firm will use the net proceeds for general corporate purposes, which may include hotel purchases, renovations of existing hotels, and decrease of debt or preferred securities or other corporate purposes. Shares closed up 2.44 percent on the day at $11.76, and have been traded in a 52-week range of $8.70 to $11.85.
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