Solutia, Cepheid, InvenSense, WMS Lead Top Stock Percentage Winners Jan 27th
Solutia Inc. (NYSE:SOA): Eastman expects the transaction to be immediately accretive to earnings, excluding acquisition-related costs and charges. Eastman has identified annual cost synergies of approximately $100M that are expected to be achieved by year-end 2013. Further, Eastman expects to realize significant tax benefits from Solutia’s historical net operating losses and other tax attributes that are expected to contribute to free cash flow of approximately $1B through 2013. The transaction, which was approved by the Boards of Directors of both companies, remains subject to approval by Solutia’s shareholders and receipt of required regulatory approvals as well as other customary closing conditions. The transaction is expected to close in mid-2012. The shares closed at $27.52, up $8.01, or 41.06%. They have traded in a 52-week range of $11.27 to $27.08.
Cepheid (NASDAQ:CPHD): RBC Capital increased its target on Cepheid after the company reported higher than expected Q4 revenue, and system placements that the firm views as strong. The firm maintains an Outperform rating on the stock. The shares closed at $43.14, up $8.79, or 25.59%. They have traded in a 52-week range of $23.05 to $42.65.
InvenSense Inc (NYSE:INVN): After InvenSense reported higher than expected EPS for its December quarter, Oppenheimer expects the company to benefit from the launch of Microsoft’s (NASDAQ:MSFT) Windows 8 and smart TVs. The firm maintains an Outperform rating. The shares closed at $14.52, up $1.73, or 13.53%. They have traded in a 52-week range of $8.25 to $16.74.
WMS Industries Inc. (NYSE:WMS): WMS Industries reports Q2 revenue of $162.2M vs. consensus $171. The shares closed at $23.70, up $2.77, or 13.23%. They have traded in a 52-week range of $16.24 to $44.41.
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