Ramtron Enters Into Merger Agreement and 4 Stocks Rising to 52-Week Highs
Par Technology Corp.’s (NYSE:PAR) subsidiary, Rome Research Corporation, was awarded a contract by the U.S. Navy under which it is to provide telecommunications operations and maintenance services at the Global Information Grid facility in Souda Bay on Crete, Greece. The contract is worth about $2.4 million. The company also operates other communications facilities for the U. S. Navy as well as those throughout the world. The shares closed at $5.52, up $0.07 or 1.28% on the day. They have traded in a 52-week range of $3.04 to $5.46.
Don’t Miss: Spotlight: RIM’s Fight for Mobile Market Share.
Pultegroup (NYSE:PHM): Due to the Federal Reserve’s most recent attempt for stimulus, banks will see a “windfall,” but it could be months before mortgage rates begin to lower because of these recent decisions, according to The Washington Post cited. The shares closed at $16.43, up $0.67 or 4.25% on the day. They have traded in a 52-week range of $3.29 to $16.64.
Ramtron Internationa (NASDAQ:RMTR) along with Cypress Semiconductor Corporation (NASDAQ:CY) has entered into a definitive merger agreement beneath which Cypress is to acquire all of Ramtron’s outstanding stock for $3.10 per share in cash. The transaction is worth about $109.8 million, representing a premium of 71 percent to Ramtron’s closing price of $1.81 per share on June 11, 2012, which is the day prior to Cypress’ public revealing of its offer for Ramtron. Both companies’ boards of directors approved the transaction, and Ramtron’s Board of Directors unanimously recommends that its stockholders tender their shares in Cypress’s increased tender offer. This is to be a cash tender offer for all outstanding shares of Ramtron common stock. Under the agreement, Cypress is to amend its pending tender offer to raise the offer price to $3.10 and to lengthen the date of the offers expiration, which needs to be in compliance with the SEC’s rules and regulations. Subject to customary closing conditions, the transaction should close by the end of 2012. The shares closed at $3.08, up $0.21 or 7.32% on the day. They have traded in a 52-week range of $1.65 to $3.09.
Ryland Group (NYSE:RYL): Due to the Federal Reserves most recent stimulus attempts, banks are expected to see a “windfall,” but it could be months before a decline is seen in mortgage rates because of the central bank’s action, according to The Washington Post, who cited analysts as saying yesterday. The shares closed at $31.80, up $1.72 or 5.72% on the day. They have traded in a 52-week range of $9.15 to $31.55.
Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>