Merck Agrees to Settlement and 4 Stocks Reaching 52-Week Highs
ECB Bancorp Inc (NASDAQ:ECBE) and Crescent Financial Bancshares (NASDAQ:CRFN) jointly announced Tuesday that they have reached merger agreement through which the later will purchase ECB for $17.75 per share or a total amount of about $51.6 million. This represents the second merger announcement for Crescent Financial Bancshares in recent months. At the transaction’s finalization, which is expected in the fist quarter of next year, the combined entity will have around $2 billion in total assets, $1.2 billion in total loans, $1.7 billion in total deposits, along with a network of 45 branches in North Carolina. Through the terms, shareholders of ECB Bancorp, Inc. will receive 3.55 shares of Crescent Financial for each share of ECB common stock. Shares closed up 33.53 percent on the day at $15.69, having been traded in a 52-week range of $8.00 to $12.25.
Google Inc. (NASDAQ:GOOG) has initiated the sale of its Nexus 7 tablet in Japan, along with local language movies and books, according to Reuters. The country has quickly become one of its major world markets for digital downloads. Shares closed down 0.03 percent on the day at $749.16, and have traded in a 52-week range of $480.60 to $750.04.
GlaxoSmithKline’s (NYSE:GSK) Trametinib and Dabrafenib, which comprise the firm’s treatment of Stage IIb through IV melanoma, was designated Orphan Indication on September 20th by the FDA. Shares closed up 0.03 percent on the day at $47.05, having been traded in a 52-week range of $40.08 to $47.48.
Lloyds Banking Group plc (NYSE:LYG): The European Union might be hurrying to restore confidence in Spain’s financial health and the euro, but Germany has its own priorities in the matter, which is the wellbeing of its own banks. Of all Europe, lenders in Germany have the most exposure to Spain, with $45.9 billion of the total $139.9 billion to banks alone, said the Bank for International Settlements, to the Wall Street Journal. Shares closed down 0.78 percent on the day at $2.54, and have traded in a 52-week range of $1.33 to $2.61.
Merck & Co Inc. (NYSE:MRK) will resolve its Coppertone class action litigation for a figure between $3 million and $10 million. The 2009 acquisition of Schering-Plough left Merck saddled with the almost 10-year old lawsuit, linked to Coppertone sunscreen products. Shares closed down 0.07 percent on the day at $45.11, having been traded in a 52-week range of $30.54 to $45.25.
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