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Houston Wire & Cable (NASDAQ:HWCC): Houston Wire & Cable reported a third quarter earnings per share of 24c, and a consensus of 29c. Their shares closed at $10.97, down $0.1 or 0.9% on the day. They have traded in a 52-week range of $10.12 to $15.33.
Molycorp Inc (NYSE:MCP): After the company reported, in an regulatory filing, that the Securities and Exchange Commission had initiated a formal investigation of the company, rare earth mining company Molycorp Inc.’s shares fell. The probe will cover several areas, including “the accuracy of the company’s public disclosures,” Molycorp stated. Their disclosure and the subsequent decline in their stock caused trading of their shares to be halted for a single-stock circuit breaker before trading was resumed. In late morning trading, Molycorp had fallen 65c, or 7.49%, to $8.03. Their shares closed at $7.50, down $1.18 or 13.59% on the day. They have traded in a 52-week range of $8.86 to $36.25.
Cumberland Pharmaceuticals (NASDAQ:CPIX): After Wells Fargo analyst, Michael Tong, downgraded their stock from Outperform to Market Perform, in a note to investors earlier this morning, drug maker Cumberland Pharmaceuticals is falling., Another pharmaceutical company, Innopharma, has received the approval from the Federal Drug Administration, to market a generic version of Cumberland’s Acetadopte, a treatment for Chronic Pulmonary Disease and Acute Bronchopulmonary Disease. Tong doesn’t know when Innopharma will begin marketing their drug, and he believes that Cumberland may seek a preliminary injunction that could postpone the launch. Still, the analyst believes that Cumebrland’s stock is unlikely to appreciate as long as uncertainty about the matter persists. In mid-morning trading, Cumberland fell 27c, or 4.88%, to $5.22. Their shares closed at $4.81, down $0.68 or 12.39% on the day. They have traded in a 52-week range of $5.26 to $8.02.
CPI Aerostructures (AMEX:CVU): The consensus for CPI Aerostructures is $95.48million. The company said, “Although our 2012 guidance has factored in the current defense budget environment, due to military budget uncertainties for 2013, specifically the effect of the cuts mandated by the Budget Control Act of 2011, many prime contractors in the aerospace and defense sector, including our customers, have been delaying the release of new orders to subcontractors. As a result of these delays, some revenue expected in 2012 is now projected for 2013.” Their shares closed at $10.78, up $0.58 or 5.69% on the day. They have traded in a 52-week range of $10.17 to $16.42.
Moneygram International (NYSE:MGI): MoneyGram International has reached a settlement with the United States Attorney’s Office for the Middle District of Pennsylvania and the Asset Forfeiture and Money Laundering Section of the Criminal Division of the Department of Justice, as well as their fraud complaint data and consumer anti-fraud program, relating to the previously disclosed investigation of transactions involving some of their United States and Canadian agents, from 2003 to early 2009. As part of this settlement, the Company entered into a deferred prosecution agreement with the MDPA and U.S. DOJ, dated November 8. Under the terms of the DPA, no further action will be taken against MoneyGram by the MDPA and U.S DOJ as long as they meet the conditions set forth in the agreement. As part of this understanding, the Company has agreed to the appointment of an independent compliance monitor and a forfeiture of $100 million that will be available to victims of the consumer fraud scams. MoneyGram had previously disclosed, in their annual reports, and other public filings that they were having conversations with authorities concerning this investigation. As announced on July 26, they made an accrual in the second quarter of 2012 for $30 million and stated that on November 9, they made an additional accrual in the third quarter of 2012 for $70 million related to this situation. Their shares closed at $13.93, up $0.15 or 1.09% on the day. They have traded in a 52-week range of $13.66 to $23.04.
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