Malvern Federal Announces Reorganization Plan and 3 Stocks that Have Hit 52-Week Highs

Costco Wholesale Cor (NASDAQ:COST) is evidence that the decline of the big-box store is exaggerated,according to the Wall Street Journal’s “Ahead of the Tape.” Fiscal Q4 numbers are due and will likely underscore the company’s ongoing success. However, investors have been made to pay above-market prices for that growth, nearly 80 percent more than the average 2012 earnings multiple of Wal-Mart (NYSE:WMT) and Target (NYSE:TGT). Unless Costco’s superior performance can keep going for years to come, this will be difficult to explain. There is new competition to its business model, and the stock is fully priced. The shares are a tempting buy, but could cause buyers’ remorse, the WSJ adds. The shares closed at $101.56, up $1.92 or 1.93% on the day. They have traded in a 52-week range of $78.81 to $103.51.

Malvern Federal Banc (NASDAQ:MLVF): Malvern Federal Bancorp, the holding company for Malvern Federal Savings Bank, stated that its Plan of Conversion and Reorganization, which is to provide for the “second-step” conversion of Malvern Federal Mutual Holding Co., the company’s mutual holding company parent, gained approval by the shareholders of the company and the members of the mutual holding company at separate meetings that took place on Oct. 2. The conversion and offering should be completed on or about Oct. 11. The transaction’s closure is subject to the satisfaction of final regulatory approval and customary closing conditions. Because of the conversion and offering, Malvern Federal Mutual Holding Co. and the company will no longer exist and Malvern Bancorp will become the parent holding company of the Bank and will be wholly owned by public shareholders. A total of 3,636,875 shares of common stock of Malvern Bancorp-New will likely be sold in the subscription offering at $10.00 per share for gross proceeds totaling $36.4 million. The shares closed at $11.25, up $0.75 or 7.14% on the day. They have traded in a 52-week range of $5.51 to $10.64.

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Ramtron Internationa (NASDAQ:RMTR): Cypress Semiconductor (NASDAQ:CY) has completed its initial tender offer for all outstanding Ramtron International Corporation stock. The initial offering period ended at 12:00 midnight eastern, on October 9, 2012. Computershare Inc., which is the depositary for the tender offer, advised Cypress that 23,290,666 shares had been validly tendered and not withdrawn, representing, which totals about 70 percent of Ramtron’s outstanding stock, and 559,785 more shares were tendered subject to guaranteed delivery procedures, which represents about 2 percent of Ramtron’s outstanding stock. All the shares that were validly tendered and not withdrawn were accepted for payment. The shares closed at $3.09, down $0.01 or 0.32% on the day. They have traded in a 52-week range of $1.65 to $3.10.

Sirius Xm Radio Inc. (NASDAQ:SIRI) reported net subscriber additions reached 445,921 in the quarter ending on September 30. SiriusXM completed its Q3 with a record 23,365,383 subscribers, and it announced that it will increase its net subscriber additions guidance to 1.8 million for 2012 versus its former guidance of 1.6 million. “These strong net additions produced our best third quarter since the merger and exceeded third quarter 2011 subscriber growth by 34%,” stated Mel Karmazin, SiriusXM’s CEO. “With almost 1.5 million net subscribers already added in 2012 and continuing growth in auto sales, we will significantly exceed our previous guidance of 1.6 million, marking our third increase in subscriber guidance this year and putting us on track for record post-merger net additions.” The shares closed at $2.75, up $0.12 or 4.56% on the day. They have traded in a 52-week range of $1.61 to $2.75.

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