Surmodics (NASDAQ:SRDX) commenced a tender offer for the purchase of as much as $55 million of its common stock via a modified Dutch auction tender offer, at a price per share no less than $17.00 and no greater than $19.00. On August 3, 2012, the latest reported sale price of the company’s common stock was $17.57 per share, with an average closing price of $15.79 throughout the past three months. If the tender offer is completely subscribed, the company is to purchase shares totaling about 16.5 percent to 18.4 percent of Surmodic’s outstanding shares of common stock as of July 31, 2012. The tender offer is set to expire at 5:00 p.m., Eastern Daylight Time, on September 5, 2012, unless there is an extension of the offer. The company predicts it will fund the share purchases in the tender offer via its current cash and investments, which as of June 30, 2012 totaled about $108.2 million. The shares closed at $17.80, up $0.23 or 1.31% on the day. They have traded in a 52-week range of $8.73 to $17.90.
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Transmontaigne Partn (NYSE:TLP): Erik B. Carlson has been appointed to serve as Chief Administrative Officer, Executive Vice President, and Assistant Secretary of the TransMontaigne entities, beginning on October 1, 2012. Before October 1, 2012, Mr. Carlson is to continue to serving the TransMontaigne entities in his current position as Executive Vice President, General Counsel, and Assistant Secretary as a way to assist in the orderly transition of the General Counsel duties to Michael A. Hammell. The shares closed at $37.30, up $0.7 or 1.91% on the day. They have traded in a 52-week range of $29.65 to $37.00.
Time Warner Inc. (NYSE:TWX): “The Dark Knight Rises,” from Time Warner’s Warner Bros. Pictures, continued to hold the leading place for the third weekend in a row, grossing $36.4 million, as well as bringing its cumulative domestic total to $354.6 million, according to the Wall Street Journal. The shares closed at $41.61, up $0.23 or 0.56% on the day. They have traded in a 52-week range of $27.62 to $41.39.
Vodafone Group Plc (NASDAQ:VOD): Earlier, Verizon Wireless (VZ,VOD) announced an enhancement of its mobile portfolio tools for small business customers while adding Microsoft (NASDAQ:MSFT) Office 365. Office 365, part of Verizon Wireless’ Small Business Essentials portfolio, is Microsoft Corp.’s cloud productivity service which includes email, instant messages with presence, video and voice conferencing, and document sharing, according to Verizon. By offering Office 365, Verizon Wireless’ small business customers are able to take advantage of productivity in the cloud while on the move, Verizon added. The shares closed at $29.73, up $0.02 or 0.07% on the day. They have traded in a 52-week range of $24.31 to $29.82.
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