Stocks Scoring 52-Week Highs Apr 3rd: SRE, SXCI, UNH, VRNG
Sempra Energy (NYSE:SRE): Silverado Power and San Diego Gas & Electric announced that SDG&E has signed two new power purchase agreements with Silverado Power subsidiaries Western Antelope Dry Ranch in Lancaster, Calif., and Victor Mesa Linda B in Victorville, Calif., for a total of 15 megawatts of solar energy. Both contracts are for 20 years and each requires approval from the California Public Utilities Commission. The shares closed at $62.28, up $1.14 or 1.86% on the day. They have traded in a 52-week range of $44.78 to $61.42.
Sxc Health Solutions (NASDAQ:SXCI): JMP Securities said in a note to investors this morning that it learned SXC Health Solutions (NASDAQ:SXCI) won a competitive bidding process to begin contract negotiations with the Indiana Department of Administration to manage the state’s Medicaid pharmacy benefit program. JMP estimates the contract to be worth $32M and feels the deal highlights SXC’s ability to gain market share within the Medicaid fee-for-service segment. In late morning trading, shares of SXC Health Solutions are up over 5%, or $3.91, to $78.01. The shares closed at $78.87, up $4.77 or 6.44% on the day. They have traded in a 52-week range of $40.36 to $76.42.
Unitedhealth Group (NYSE:UNH): President Obama yesterday said he was confident that the Supreme Court wouldn’t strike down his healthcare reform law, according to The New York Times. Overturning legislation passed by a “strong majority” of Congress would be an unprecedented move by the court, the President explained, according to the newspaper. The shares closed at $59.40, up $0.28 or 0.47% on the day. They have traded in a 52-week range of $41.27 to $59.43.
Vringo (AMEX:VRNG): Vringo said that in view of the unusual market activity in the company’s stock, the NYSE AMEX has contacted the company in accordance with its usual practice. The company stated that its policy is not to comment on unusual market activity. The shares closed at $3.25, up $0.15 or 4.84% on the day. They have traded in a 52-week range of $0.68 to $3.12.
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