Herbalife to Open Doors in NC and 2 Stocks Dipping to 52-Week Lows
Herbalife Ltd (NYSE:HLF) announced that they have entered into an agreement to acquire a manufacturing facility in Winston Salem, North Carolina. This purchase will expand Herbalife’s worldwide manufacturing capacity and is in line with the company’s stated strategy to increase self-manufacturing for their products. The agreement is based upon a cash purchase of $22.2 million and includes incentives from Winston Salem, Forsythe County, and the state of North Carolina. Their shares closed at $37.34, down $5.16 or 12.14% on the day. They have traded in a 52-week range of $42.15 to $73.00.
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Martha Stewart Living (NYSE:MSO): A search is underway to name a successor for the Martha Stewart Living reins. Under Gersh’s leadership, the company has successfully restructured and repositioned its publishing and broadcast divisions to improve profitability and expand delivery of its lifestyle offerings through digital, mobile and video platforms. The company expects the restructuring to result in annualized cost savings in the range of $45-$47 million which is anticipated to result in an EBITDA increase of approximately $5-$7 million a year. Their shares closed at $2.65, up $0.07 or 2.71% on the day. They have traded in a 52-week range of $2.31 to $4.89.
Oncothyreon Inc . (NASDAQ:ONTY) made an announcement that the pivotal PhasE 3 Clinical Trial Of L-BlP25, originally referred to as Stimuvax or START, did not meet its primary goal which is an improvement in overall survival for patients with unresectable, locally advanced stage IIIA or stage IIIB non-small cell lung cancer. The trial was conducted by Merck Serono, a division of Merck KGaA of Darmstadt, Germany, under a license agreement with Oncothyreon. They have traded in a 52-week range of $3.35 to $9.23.
Investing Insights: Is This Healthcare Company an Outperform?