NEW YORK, March 6, 2013 /PRNewswire/ --
J. C. Penney Company, Inc. shares dropped to a new 52-week low
of $14.92 yesterday in intra-day
trading. Department store Macy's is suing Martha Stewart and her company along with
competitor J. C. Penney for breach of contract for selling a J. C.
Penney line. Martha Stewart
testified in court on Tuesday to explain why her contract to sell
product at J. C. Penney doesn't violate her current Macy's
contract.
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Radian Group Inc. (NYSE: RDN) - RDN shares hit $10.95, representing a brand new 52-week high for
the Company. The move came after the U.K. brokerage Barclay's
lifted both Radian Group and MGIC Investment to "overweight" from
"underweight." Barclay's pointed to recent developments saying that
they have "all but eliminated" the risk those companies could be
forced into "run-off." Barclay's analyst Mark DeVries moved his price targets on the
Company to $14 from $4. Radian Group announced on Monday that it has
completed its previously announced concurrent public offerings of
39.1 million shares of common stock and $400
million principal amount of convertible senior notes due
2019. Shares of RDN closed up 6.28% yesterday, at $10.49.
Apple Inc. (Nasdaq: AAPL) - AAPL shares saw a big rebound on
Tuesday after the stock dropped to a new 52-week low on Monday. At
its intra-day high of $435.19
yesterday, shares of APPL were up as much 3.86% from hitting a low
of $419.00 the previous day. Tuesday
was the first day the stock closed in the green after a sell off
that lasted four days. The Company announced on Tuesday that
it has added thousands of Japanese titles to iBooks. The Company
remains as the largest firm on the S&P 500 with a market cap of
about 407.5 billion. A director in the Company bought 562 shares on
February 27th. The stock
closed at $431.14 yesterday, up
2.64%.
Impax Laboratories Inc. (Nasdaq: IPXL) - IPXL was one of the
biggest losers on the Nasdaq composite yesterday dropping 26% at
the close. The stock hit a new 52-week low of $14.48, dropping the most it's ever done in
almost three years. The drop came after regulators found that
manufacturing issues persist at a company plant. The plant in
Hayward, California, where the
company is based, is barred by the FDA from producing new drugs.
"We have committed significant resources in our efforts to meet FDA
requirements and are clearly disappointed by this news," Impax
Chief Executive Officer Larry Hsu
said in a statement. The Company is the developer of the
experimental drug Rytary for Parkinson's disease.
Cree, Inc. (Nasdaq: CREE) - Yesterday shares of CREE soared
after the Company introduced a family of LED light bulbs that shine
as bright as comparable incandescents while using 84% less energy.
The new Cree LED bulbs are designed to last 25,000 hours, or 25
times longer than typical incandescent light bulbs. The LED bulbs
turn on instantly and are free of toxic mercury, unlike compact
fluorescent light bulbs. The Company is offering the new bulbs at
aggressive prices, starting at less than $10 and will be sold exclusively at Home Depot
stores with a 10-year limited warranty. CREE hit a new 52-week high
of $52.15 on Tuesday.
MGIC Investment Corp. (NYSE: MTG) - One of the biggest movers on
the NYSE was MGIC Investment Corp. on Tuesday. The stock saw gains
of over 11% in pre-market trading. By the close, MTG was up 27.75%
at $5.34. U.K. Barclay's has upgraded the stock from
"underweight" to "overweight," and Barclay's analyst Mark DeVries upped his price target to
$8 from $1. The stock traded 56,900,369 shares yesterday,
a significant increase from its average of 6,720,930 shares.
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