Mylan Seeks Acquisitions and 3 Stocks that Have Hit 52-Week Highs
Moody’s Corporation (NYSE:MCO) currently projects that both its full-year 2012 revenue and full-year 2012 expenses should increase in the mid-teens percent range, with the operating margin for the same period at about 40 percent and adjusted operating margin at approximately 43 percent. It is still anticipated that the effective tax rate should be around 32 percent. Shares closed up 4.75 percent on the day at $47.89, and have traded in a 52-week range of $31.41 to $46.64.
Mylan Inc. (NASDAQ:MYL) Chief Executive Heather Bresch says that her company is searching out purchases, and will appraise deals valued at “well over” $4 billion, according to the Wall Street Journal. Further, Mylan might pursue acquisitions to expand its specialty-drug division. Shares closed up 0.88 percent on the day at 25.22, having been traded in a 52-week range of $17.22 to $25.02.
Newell Rubbermaid (NYSE:NWL) expects that the expansion of Project Renewal should bring incremental annualized cost reductions of between $180 million and $225 million, when fully in place by the end of the second quarter of 2015. Most of these savings will be reinvested in programming to step up growth and in reinforcing the brand-building and selling capabilities in priority markets globally. Newell anticipates incremental cash costs in a range of $225 million to $250 million and posting pre-tax restructuring charges of between $250 million and $275 million over the same period. Cumulative costs from the expanded Project are currently expected to be from $340 million to $375 million pre-tax, along with cash costs of between $300 million and $340 million. Overall, Project Renewal should allow annualized costs savings of about $270 million to $325 million by the second quarter of 2015. The firm is set to obtain annualized cost savings from the first phase of Project Renewal of around $90 million to $100 million by the first half of next year. Further, Newell Rubbermaid will de-layer its top structure, removing the two Groups Consumer and Professional, and consolidating the global business units from nine down to the six business segments Commercial Products, Tools, Home Solutions, Writing, Baby & Parenting, and Specialty. Shares closed up 2.49 percent on the day at $20.59, and have traded in a 52-week range of $14.22 to $21.04.
Taser International (NASDAQ:TASR) posted third quarter revenues in its video unit that increased by 30.8 percent sequentially, to $1.7 million. Shares closed up 26.29 percent on the day at 8.07, having been traded in a 52-week range of $3.96 to $6.65.
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