CBS, Abbott Labs, Comcast, Coach Win 52-Week Stock Highs Mar. 8th

March 08, 2012

CBS Corp. (NYSE:CBS): The Justice Department warned Apple (NASDAQ:AAPL) and five major U.S. publishers that it plans to sue them for allegedly colluding to raise the price of electronic books, sources say, reports the Wall Street Journal. The others are CBS Corp.’s (NYSE:CBS) Simon & Schuster; Lagardere SCA’s Hachette Book Group; Pearson PLC’s (NYSE:PSO) Penguin Group (NYSE:USA); Macmillan, a unit of Verlagsgruppe Georg von Holtzbrinck GmbH; and HarperCollins Publishers Inc., a unit of News Corp. (NASDAQ:NWSA). Some of the firms have held talks to settle the antitrust case and head off a court battle, the sources add. The shares closed at $30.54, up $0.75 or 2.52% on the day. They have traded in a 52-week range of $17.99 to $30.55.

Abbott Laboratories (NYSE:ABT): Abbott announced that it has received U.S. Food and Drug Administration clearance for the FreeStyle InsuLinx Blood Glucose Monitoring System. Abbott said the FreeStyle InsuLinx System will be available to U.S. consumers within the coming months. The shares closed at $57.49, up $1.23 or 2.19% on the day. They have traded in a 52-week range of $46.29 to $57.52.

Companhia De Bebidas (NYSE:ABV): Reported Q4 revenue BRL 8.38B vs. BRL 7.46B a year ago. The shares closed at $40.72, up $0.76 or 1.9% on the day. They have traded in a 52-week range of $26.12 to $40.66.

Comcast Corp. (NASDAQ:CMCSK): According to film industry sources, Fox (NASDAQ:NWSA) and Universal (NASDAQ:CMCSA) are likely to join Apple TV’s (NASDAQ:AAPL) new iCloud feature “soon,” CNet reports, noting that “This is a minor holdup.” CNet also says “Negotiations resulted in a fix for UltraViolet and it will do the same shortly for Apple.” The shares closed at $29.10, up $0.37 or 1.29% on the day. They have traded in a 52-week range of $18.74 to $28.98.

Coach (NYSE:COH): Company executive said they are enjoying very strong growth in North America. The shares closed at $76.79, up $3.4 or 4.63% on the day. They have traded in a 52-week range of $45.70 to $77.30.

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com