FleetCor Technologies Inc. (NYSE: FLT) Director Michael Buckman recently bought 5,000 shares for $116.68 per share. Buckman made a total investment of $583,402. The purchase came shortly after FleetCor Technologies reported its financial results for the third quarter of 2013. The company reported total revenue of $225.2 million for the quarter, compared to $186.9 million reported for the same period in the previous year. Net income for the quarter was $78.6 million, compared to $59.6 million reported for the same period in the previous year.
Month: November 2013
Santarus to be Acquired by Salix Pharmaceuticals
Shares of Santarus Inc. (NASDAQ: SNTS), a specialty biopharmaceutical company, surged in trading on Friday after the company agreed to be acquired by Salix Pharmaceuticals Ltd. (NASDAQ: SXLP). The two companies entered into a definitive agreement under which SLXP will acquire all outstanding shares of Santarus for $32 per share in cash. The offer price from Salix represents a premium of 36% over Santarus’ closing price on November 6, 2013. Santarus shares ended the day 37.60% higher at $31.95 on above average volume of 45.22 million. SLXP shares, meanwhile, ended the day 17.80% higher at $84 on above average volume of 6.64 million.
Universal Display Reports Strong Q3 Results; Raises Outlook
Universal Display Corporation (NASDAQ: OLED) reported stronger-than-expected financial results for the third quarter of 2013. The company also raised its revenue outlook, following the strong quarterly results, sending shares sharply higher in trading on Friday. PANL’s earnings for the third quarter came in at $5.5 million, or $0.12 per share. Analysts were expecting the company to report a loss of $0.04 per share for the quarter. The company’s revenue for the quarter was $32.5 million, compared to Street estimates of $21.76 million. PANL shares surged to an intra-day high of $36.98 on Friday before finishing the day 25.59% higher at $36.61 on above average volume of 3.85 million.
HomeAway Shares Surge on Quarterly Results
Shares of HomeAway Inc. (NASDAQ: AWAY), an online marketplace for the vacation rental industry, have surged in trading today after the company reported its financial results for the third quarter. For the quarter ended September 30, 2013, AWAY reported revenue of $90.1 million, compared to $73.1 million reported for the same period in the previous year. The company reported adjusted EBIDTA of $29 million, compared to $24.2 million reported for the same period in the previous year. Brian Sharples, CEO of HomeAway, said that the second half of 2013 is proving to be a very exciting time for the company. AWAY shares struck a 52-week high of $34.93 earlier today, and at last check, they were trading 17.05% higher at $34.05 on above average volume of 5.27 million.
Twitter Surges on Debut
Shares of micro-blogging site Twitter Inc. (NYSE: TWTR) have surged on their trading debut. Twitter completed its IPO on Wednesday. The San Francisco, California-based company priced its IPO at $26 per share. The company offered 70 million shares in the much-awaited IPO, raising $2 billion. Twitter surged to $50.09 earlier today as the company saw strong demand for its shares. At last check, Twitter’s market cap is $25 billion.
Time Warner Reports Q3 Results
Time Warner Inc. (NYSE: TWX), the New York City-based media and entertainment company, reported its financial results for the third quarter, posting a big increase in net income. For the quarter ended September 30, 2013, the company reported a profit of $1.18 billion, or $1.26 per share, compared to $822 million, or $0.84 per share reported for the same period in the previous year. Excluding one-time items, the company reported a profit of $1.01 per share. Revenue for the quarter was $6.86 billion. Analysts were expecting TWX to report revenue of $6.94 billion for the quarter. TWX shares struck a 52-week high of $70.77 earlier today. At last check, the stock was up 0.51% to $68.58 on above average volume of 5.92 million.
Tesla Motors Shares Plunge
Shares of electric car maker Tesla Motors Inc. (NASDAQ: TSLA) have plunged in trading today after the company’s sales for the third quarter disappointed some analysts. The company’s fourth-quarter profit outlook also disappointed investors. TSLA’s Model S deliveries totaled 5,500 in the third quarter. This was below the estimates of Barclays analyst Brian Johnson and Deutsche Bank analyst Dan Galves. TSLA shares fell to an intra-day low of $146.35 earlier today. At last check, the stock was trading 14.61% lower at $150.97 on above average volume of 23.39 million.
Endo Health Solutions to Acquire Paladin Labs
Shares of Endo Health Solutions Inc. (NASDAQ: ENDP), a specialty healthcare solutions company focusing on branded and generic pharmaceuticals, devices and services, have surged in trading today after the company agreed to acquire Canada-based Paladin Labs for approximately $1.6 billion. The acquisition will allow ENDP to expand in Canada and emerging markets. Rajiv De Silva, President and CEO of Endo Health Solutions, said that the acquisition of Paladin Labs accelerates ENDP’s transformation from an integrated health solutions company to a top tier global specialty healthcare leader. De Silva further said that Paladin Labs has a proven track record of acquiring and in-licensing innovative new products, and developing international growth platforms. At last check, ENDP shares were up 22.82% to $53.60 in pre-market trading.
AOL Inc. Shares Rise Sharply on Q3 Results
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J&J Agrees to Pay Over $2.2 Billion in Penalties
Pharmaceutical giant Johnson & Johnson (NYSE: JNJ) has agreed to pay over $2.2 billion to settle criminal and civil claims related to the marketing of antipsychotic drug Risperdal and other medications. The lawsuits alleged that JNJ marketed the medications for off-label uses. The Justice Department also said that the company paid kickbacks to a major pharmacy. JNJ has agreed to pay $485 million in criminal fines and forfeiture and $1.72 billion in civil settlements with the federal government and states.