Primero Mining Receives Positive Ruling and 2 Stocks Hitting 52-Week Highs
Primero Mining Corp (NYSE:PPP) announced that its Mexican subsidiary gained a positive ruling from the Mexican tax authorities regarding its Advance Pricing Agreement, or APA, filing that was made in October 2011. The ruling claims that the company’s Mexican subsidiary appropriately records revenue and taxes from sales beneath the silver purchase agreement at realized prices instead of spot prices beginning Aug. 6, 2010. The shares closed at $7.37, up $1.97 or 36.48% on the day. They have traded in a 52-week range of $2.28 to $5.82.
Constellation Brands (NYSE:STZ) reports its Q2 adjusted EPS at 71c, consensus 54c. The shares closed at $36.20, up $1.48 or 4.26% on the day. They have traded in a 52-week range of $17.95 to $34.93.
Universal Health Ser (NYSE:UHS) is to sell an acute inpatient psychiatric facility in the El Paso, Texas/Santa Teresa, New Mexico area for the settlement of Federal Trade Commission charges that UHS’s proposed acquisition of Ascend Health Corporation would be anticompetitive. As a resolution to these competitive concerns, the proposed order that would settle the FTC’s charges has its main focus on the El Paso/Santa Teresa area requiring UHS to sell its Peak Behavioral Health Services facility in six months to a buyer approved by the FTC. UHS is to acquire UBH of El Paso at the close of the merger, and it is to ensure that the Peak assets have the ability to attract a buyer that is able to compete with UHS following the sale. The proposed order lets the Commission require a second UHS hospital, Mesilla Valley Hospital in Las Cruces, New Mexico, to be sold along with Peak if Peak alone is not divested to an approved buyer within six months. Additionally, UHS is required to continue to keep the Peak assets separate and apart from its other operations and to keep both Peak and Mesilla Valley as viable operations pending a sale. The shares closed at $46.06, down $0.15 or 0.32% on the day. They have traded in a 52-week range of $32.70 to $46.49.
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