Belden Acquires PPC and 4 Stocks Hitting 52-Week Highs
Belden Inc (NYSE:BDC) acquired privately held PPC, which is a top provider of broadband connectivity solutions based in Syracuse, New York, for $515.7 million. The acquisition should show improvements to Belden’s Broadcast Solutions platform, along with increasing exposure to attractive end markets. Because its operating margins are above 22 percent, the transaction is accretive to Belden’s consolidated operating results. Additionally, Belden believes that the acquisition is accretive to adjusted EPS in 2013 by 54c. The shares closed at $42.27, up $2.57 or 6.47 percent on the day. They have traded in a 52-week range of $29.65 to $41.43.
Celgene Corp. (NASDAQ:CELG): Celgene International Srl, a subsidiary of Celgene, made the announcement that data from its phase III, multi-center, randomized, open-label study of pomalidomide plus low-dose dexamethasone compared with high-dose dexamethasone in patients with refractory multiple myeloma previously failing therapy with both bortezomib and lenalidomide, which was administered either alone or in combination. MM-003 was able to meet the primary endpoint of improvement in progression-free survival, or PFS. PFS was noticeably longer in patients receiving pomalidomide along with a low-dose of dexamethasone versus those who receiving a high-dose of dexamethasone. The study design indicates that an interim analysis of overall survival was also conducted. Furthermore, pomalidomide plus low-dose dexamethasone showed a highly statistically significant improvement regarding overall survival, and this improvement crossed the higher boundary for superiority. Because of this, the Data Monitoring Committee recommended that patients not yet progressing in the high-dose dexamethasone arm should be crossed over to pomalidomide plus low-dose dexamethasone. The shares closed at $82.08, up $1.58 or 1.96 percent on the day. They have traded in a 52-week range of $58.53 to $81.24.
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Celldex Therapeutics (NASDAQ:CLDX) has announced positive results from a Phase 1 multi-dose study of CDX-301 showing that CDX-301 was well-tolerated and is able to safely and effectively mobilize hematopoietic cell populations in healthy volunteers. This data support the future development of CDX-301 in various indications, which includes hematopoietic stem cell transplant and cancer immunotherapy. The results were revealed via a poster named A Phase 1 Trial of the Hematopoietic Growth Factor CDX-301 in Healthy Volunteers on Monday, December 10, 2012 at 6:00 pm ET at the American Society of Hematology 54th Annual Meeting and Exposition. The lead author was Niroshana Anandasabapathy, MD, PhD, Laboratory of Cellular Physiology and Immunology, The Rockefeller University, New York, NY. The shares closed at $6.88, down $0.05 or 0.72 percent on the day. They have traded in a 52-week range of $2.53 to $7.14.
Canadian Pacific Rai (NYSE:CP): The Teamsters Canada Rail Conference – Maintenance of Way Employees Division, or TCRC-MWED and Canadian Pacific have come to a tentative five-year contract settlement, according to the company. The Memorandum of Settlement is to be sent to the union membership next week, and the vote’s results are expected during mid-January of 2013. The tentative agreement’s details will not be released until after ratification, the company stated. The shares closed at $100.40, down $0.69 or 0.68 percent on the day. They have traded in a 52-week range of $61.23 to $101.11.
Yahoo! Inc. (NASDAQ:YHOO) CEO Marissa Mayer used the company’s blog to announce a redesigned Yahoo Mail. Mayer has claimed, “You’ve told us loud and clear that you want fewer distractions when it comes to email..Starting today, the new Yahoo! Mail is fast, easy and available anywhere you go. These improvements will be available on all major platforms: Web, Windows 8, iPhone/iPod touch and Android.” The shares closed at $19.52, up $0.09 or 0.46 percent on the day. They have traded in a 52-week range of $14.35 to $19.47.
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