Chevron and 3 Stocks Gushing to New 52-Week Highs
Adobe Systems (NASDAQ:ADBE): Closing price $42.97
Some Australian MPs are accusing Microsoft Corporation (NASDAQ:MSFT) and Adobe of being ‘evasive’ as they look into why some citizens had to pay hundreds of dollars more for the same products than in the United States, says the Sydney Morning Herald. Both firms pointed to prices of newer web-based subscription versions of their software, but the MPs rejected that as reasons for the premiums. Shares closed up 1.87 percent on Friday at $42.97, and have been traded in a 52-week range of $29.52 to $43.23.
Baxter International (NYSE:BAX): Closing price $70.94
Baxter and Halozyme Therapeutics (NASDAQ:HALO) said that the European Medicines Agency’s Committee for Medicinal Products for Human Use has granted a positive opinion to Baxter for the use of HyQvia as replacement therapy for adult patients suffering from primary and secondary immunodeficiencies. The product is a combination of human normal immunoglobulin and recombinant human hyaluronidase, which eases the dispersion and absorption of the IGSC. Upon receiving marketing authorization from the European Commission, Baxter intends to debut HyQvia in selected countries in the European Union later in 2013. Shares closed up 1.26 percent on Friday at $70.94, having been traded in a 52-week range of $68.58 to $70.23.
Biogen IDEC (NASDAQ:BIIB): Closing price $178.00
Biogen has received a positive opinion from the Committee for Medicinal Products for Human Use in the European Union, recommending a marketing authorization be granted for Tecfidera (dimethyl fumarate) as a first-line oral treatment for adults suffering from relapsing-remitting multiple sclerosis. The Committee, on the basis of quality, safety and efficacy data submitted by Biogen Idec, considers there to be a favorable benefit-to-risk balance for the drug. The recommendation is now referred to the European Commission, which grants marketing authorization for medicines in the European Union. The FDA should make a decision on the marketing application for Tecfidera in the United States in the coming days. Shares closed up 0.82 percent on the day $178.00, and have been traded in a 52-week range of $119.00 to $178.41.
Chevron Corporation (NYSE:CVX): Closing price $121.18
Chevron said that its subsidiary Chevron Overseas Limited will go forward with the joint development of the Moho Bilondo “Phase 1 bis” and Moho Nord projects as its latest deepwater developments offshore the Republic of the Congo. Vice Chairman George Kirkland commented that ”Moho Nord is among a strong queue of major capital projects that will provide Chevron with future growth. With the project, we will enhance our position in this prolific deepwater basin.” Located around 46 miles offshore southwest of Pointe-Noire in water depths ranging from 1,500 to 4,000 feet , the Moho-Nord joint development is the biggest-ever oil and gas project in the Republic of the Congo. The Moho Bilondo “Phase 1 bis” project includes wells tied back to an existing floating output unit with a processing capacity of 40,000 barrels of oil per day. Shares closed up 0.7 percent on the day at $121.18, having been traded in a 52-week range of $118.65 to $120.99.
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