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Tim Hortons Inc. (NYSE:THI): Tim Hortons has established the following 2012 performance targets: same-store sales growth of 3%-5% in Canada and 4%-6% in the U.S.; a total of 250 to 290 restaurant openings, including; capital expenditures between $220M-$260M; our Canadian advertising fund will be investing up to $100M to expand the use of digital menu boards in our Canadian restaurants in FY12 along with new drive-thru rotating menu boards; and effective tax rate of approximately 28%. The shares closed at $52.54, up $1.86 or 3.67% on the day. They have traded in a 52-week range of $41.74 to $52.06.
Vivus (NASDAQ:VVUS): Brean Murray upgraded VIVUS citing the likely approval of Qnexa following the positive panel vote. The shares closed at $18.73, up $8.18 or 77.54% on the day. They have traded in a 52-week range of $6.00 to $13.18.
White Mountains (NYSE:WTM): White Mountains Insurance Group announced that it has repurchased for cash all 89,729 White Mountains common shares beneficially owned by Berkshire Hathaway at a purchase price of $500 per share. The Company has 30,668 shares remaining under its share repurchase authorization. White Mountains also announced that it intends to commence a self-tender offer to purchase up to 1,000,000 of its common shares at a purchase price of $500 per share net to the seller in cash. The tender offer is expected to commence on February 24 and expire at 12:00 midnight, New York City time, on March 22 unless extended. The shares closed at $496.15, up $14.39 or 2.99% on the day. They have traded in a 52-week range of $343.63 to $486.31.
Wizzard Software (AMEX:WZE): Wizzard Software released a brief update on the FAB transaction and the Home Healthcare business spin-off. We have been working aggressively to sign the definitive, binding contracts for the FAB transaction and while there can be no guarantee of closing, we believe we will enter into these contracts in the next several business days, says Chris Spencer, CEO Wizzard Software. Upon signing of the definitive agreements, we plan to file the S-1 registration statement for the HHC spin-off to our shareholders, announce the date of record for the HHC transaction and move forward on our plans to increase shareholder value through substantial growth of our Media and Healthcare businesses. The shares closed at $2.14, up $1.97 or 1% on the day. They have traded in a 52-week range of $1.15 to $3.25.
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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com
To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com
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