Under Armour and Mellanox Shine, While 3 Stocks Are Scorched By Shareholders
Under Armour Inc (NYSE:UA): Under Armor’s board approved a two-for-one stock split of the company’s outstanding common stock. The splint will be effected in a form of a dividend of one share of Class A Common Stock for each outstanding share of Class A Common Stock, and one share of Class B Common Stock for each share of outstanding Class B Common Stock. Any additional shares issued due to the stock split should be distributed around July 9 to stockholders of record as of June 25. Shares of Under Armour Inc are trading 1.44% higher today.
A Closer Look Back: Under Armour Earnings Cheat Sheet>>
Forest Laboratories, Inc. (NYSE:FRX): Shares of Forest Labs have dropped following cuts to its FY 2013 EPS guidance to $0.65-$0.80, which falls below consensus of $1. Due to the expiration of the comany’s Lexapro treatment’s patent in March, Forest Labs shows sharply lower-than-expected sales of the drug. Shares of Forest Laboratories, Inc. are trading 3.45% lower today.
Omnicare, Inc. (NYSE:OCR): Bloomberg reports that J&J (NYSE:JNJ) will possibly announce this week that the company will pay nearly $2.2B to settle investigations linked to the manner in which it marketed Risperdal antipsychotic treatment as well as other drugs, and J&J claims it paid kickbacks to Omnicare. The company will plea for a misdemeanor, and the deal with the addition of a criminal penalty will total as much as $600M. Shares of Omnicare, Inc. are trading 7.37% lower today.
EnergySolutions, Inc. (NYSE:ES): EnergySolutions announced that David Lockwood, an accomplished operating executive and board member, will succeed Val John Christenson as CEO and president of the company. Christenson will remain strategic advisor to the company, and it take immediate effect. Lockwood has served on the Board since November 3, 2010 and will continue to do so. Also, Greg Wood will succeed William R. Benz as EVP and CFO. Shares of EnergySolutions, Inc. are trading 52.79% lower today.
Mellanox Technologies, Ltd. (NASDAQ:MLNX): Mellanox announced that Intel (NASDAQ:INTC) has selected its ConnectX-3 FDR InfiniBand adapter silicon to be used in Intel’s I/O Expansion Modules and half-width server boards, Intel Server Board S2600WP and Intel Server Board S2600JF. Shares of Mellanox Technologies, Ltd. are trading 4.85% higher today.
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