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The 52-week high club

Akeena Solar, Inc. (NASDAQ: AKNS): A recent licensing deal is still pushing shares up. It hit 52-week high of $15.65 against period low of $2.97.

Teva Pharmaceutical Industries Ltd (NASDAQ: TEVA): TEVA recently got an FDA green light on new generic nausea drug. It's up to $49.08 from 52-week low of $30.81.

Superior Energy Services, Inc. (NYSE: SPN): Superior won a major contract to repair Gulf drill rigs. It jumped to $44.70 from 52-week low of $28.20.

Monsanto Company (NYSE: MON): Monsanto posted outstanding financial results. It traded up up to $123 from 52-week low of $49.10.

Occidental Petroleum Corporation (NYSE: OXY): The market is mad for energy stocks. This one climbed up to $80.93 from 52-week low of $42.06.

Douglas A. McIntyre is an editor at 247wallst.com.

Newspaper wrap-up 3-16-07: Imperial Tobacco bids for Altadis

MAJOR PAPERS:
  • General Motors Corporation (NYSE: GM) is reportedly attempting to tighten its financial reporting procedures, the Wall Street Journal (subscription required) reported. The auto maker is under investigation by the SEC and a federal grand jury for its accounting of transactions as far back as 2000.
  • The Financial Times (subscription required) reported that Dow Chemical Company (NYSE: DOW) is in talks with India's Reliance Industries for a joint venture that would enable Dow to reduce its exposure to commodity products and gain access to cheaper raw materials. Indian newspapers report that a deal could lead to a full takeover by Reliance.
OTHER PAPERS:
  • According to the Korea Economic Daily, citing an unnamed Posco ADS (NYSE: PKX) executive, a senior Arcelor Mittal Steel Company (NYSE: MT) executive expressed interest in Posco's merger plans. Posco denied the report, saying "There was no discussion on issues related to M&A when the Mittal executive met Posco CEO last month," according to the Economic Times.
  • The Independent reported that Imperial Tobacco Group plc (NYSE: ITY) has made a GBP7.6B bid for the Franco-Spanish tobacco company Altadis. The private equity firm Kohlberg Kravis Roberts is also reported to have interest in acquiring Altadis. An Imperial-Altadis merger could derail a hostile bid by Kohlberg Kravis Roberts.
  • BusinessWeek's "Inside Wall Street" section mentioned Newmont Mining Corp (NYSE: NEM), CB Richard Ellis Group Inc (NYSE: CBG) and Superior Energy Services Inc (NYSE: SPN) positively.
    • Which gold producer will shine brightest? Newmont Mining "is the one," says Vincent Carrino, Chief of Brookhaven Capital Management, which has loaded up on its stock.
    • Douglas Roberts at Channel Capital Research Institute doesn't see the Fed cutting rates soon, and hence he likes CB Richard Ellis Group.
    • Superior Energy Services aims to be everything to oil-and-gas explorers in the Gulf of Mexico, and in most cases it is. "Superior can't keep up with the tremendous demand for its repair and recovery services, which will provide strong growth through the end of the decade," says Martin Sass, CEO of MDSass, which owns a 1.2% stake.

Symbol Lookup
IndexesChangePrice
DJIA-74.9212,454.83
NASDAQ-1.852,837.53
S&P 500-2.861,317.82

Last updated: May 27, 2012: 07:28 PM

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