InterOil in NEGOTIATION With Royal Dutch Shell and 4 Stocks Riding 52-Week Highs
Goodrich Corporation’s (NYSE:GR) acquisition by United Technologies (NYSE:UTX) has obtained all the remaining regulatory approvals required for completion. The finalization of the regulatory review by the United States Department of Justice and the European Commission permits United Technologies to proceed with the proposed acquisition which was announced on Sept. 21, 2011, and the transaction should close by the end of the week. As expected, the regulatory clearances mandate that UTC divest Goodrich’s Electric Power Systems unit and Goodrich’s Connecticut-based Pumps and Engine Controls division. Also, UTC will sell Goodrich’s stake in Aero Engine Controls, which is a joint venture with Rolls-Royce. Goodrich shares closed up 0.22 percent on the day at $127.48, and have traded in a 52-week range of $80.07 to $127.25.
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Interoil Corp (NYSE:IOC) is in discussion with Royal Dutch Shell (NYSE:RDSA) to potentially divest its Papua New Guinea exploration license areas, according to Dow Jones, referring to remarks by the latter’s two most senior executives. However, Shell Chief Executive Peter Voser dodged a question as to whether his firm is readying a takeover offer for InterOil. Shares closed up 12.26 percent on the day at $84.70, having been traded in a 52-week range of $31.18 to $79.75.
Kimberly-Clark Corp. (NYSE:KMB) forecasts higher organic sales growth, added cost savings along with lower commodity costs, which will be partially offset by weaker foreign currency exchange rates; increased marketing, research and general expenses; and a higher share count. This is compared to its previous plan. Shares closed up 2.78 percent on the day at $85.72, and have traded in a 52-week range of $61.00 to $86.25.
Mellanox Technologies’ (NASDAQ:MLNX) chief executive rejects chatter that either (NYSE:IBM) or Oracle Corporation (NASDAQ:ORCL) are considering a $6 billion takeover of his firm, says Globes. Shares closed up 8.97 percent on the day at $101.83, having been traded in a 52-week range of $25.81 to $96.50.
3M Company (NYSE:MMM) expects a full-year of organic local-currency sales growth of between 2 and 5 percent, and also that foreign currency translation will shrink sales by about 3 percent for the year. In addition, the company projects operating income margins between 21.5 and 22.5 percent for the period. Shares closed up 2.07 percent on the day at $90.59, and have eebn traded in a 52-week range of $68.63 to $91.20.
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