Wal-Mart and 2 Stocks BREAKING OUT to 52-Week Highs
Lecroy Corp. (NASDAQ:LCRY): Shares of Lecroy Corporation rose drastically upon the news that Teledyne Technologies will acquire the company for $219M, including stock options, stock appreciation rights, and net debt at March 31. The electronic subsystems provider will pay $14.30 per share for the supplier of oscilloscopes, protocol analyzers, and signal integrity test solutions. Shares went up 55.36% to $14.20, and they have traded in a 52-week range of $6.52 to $13.44.
Sanderson Farms (NASDAQ:SAFM): Grain costs this summer are predicted to be higher than last year’s prices, and the news has hurt Sanderson Farms. The company said weather has caused near-record planting progress and that it hopes to see lower grain prices this fall. The firm’s $1.04 FQ2 EPS beat its original numbers by $0.19, and its revenue of $595M beat its estimates by $4M. Despite this piece of good news, shares dropped 3.04% on the day to close at $52.66. They have traded in a 52-week range of $38.07 to $55.05.
Wal-Mart Stores (NYSE:WMT): Wal-Mart has seen success recently in the initial 10 outlets of its small-format stores and plans to roll out more, the Financial Times reported. Despite the positive news, those in Massachusetts are not so happy. Still upset over allegations of bribery against Wal-Mart and a cover-up in Mexico, the state’s pension fund voted against the re-election of seven Wal-mart directors, including CEO Michael Duke and members of the Walton family. Shares fell 0.57% on the day to $65.68, and they have traded in a 52-week range of $48.31 to $65.50.
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