Friday, June 29, 2012
Hot Stocks Of The Day (HFC, LXRX, SIRI, CLNE, AZZ)
HollyFrontier Corp (NYSE:HFC) shares gained 1.77% to $34.59 in the pre-market hour after HollyFrontier Corporation and Holly Energy Partners, L.P. announced that their respective Boards of Directors have approved the acquisition of HollyFrontier's 75% interest in UNEV Pipeline, LLC ("UNEV") by Holly Energy for $315 million, subject to certain post-closing purchase price adjustments. UNEV is the owner of an approximate 400 mile, 12-inch refined products pipeline. The purchase price of $315 million is expected to be paid with $260 million in cash and approximately 1.0 million Holly Energy common units valued at $55 million, issued to HollyFrontier.
Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) stock climbed 7.83% to $2.48 in the pre-market hour after the company announced the publication of results from two initial trials of LX4211 in patients with type 2 diabetes in the online edition of the journal Clinical Pharmacology & Therapeutics. The paper, containing results from both trials, is entitled, "LX4211, a Dual SGLT1/SGLT2 Inhibitor, Improved Glycemic Control in Patients with Type 2 Diabetes in a Randomized, Placebo-controlled Trial," and will also appear in an upcoming print edition of the journal.
Sirius XM Radio Inc (NASDAQ:SIRI) stock increased 1.61% to $1.89 in the pre-market hour after the company announced its SiriusXM Internet Radio App will launch on Google TV devices coming in 2012, giving new and existing subscribers easy access to SiriusXM's commercial-free music, premier sports, live news, comedy, talk and entertainment at home.
Clean Energy Fuels Corp. (NASDAQ:CLNE) shares climbed 6.33% to $15.95 in the pre-market hour after the company announced that it has begun providing natural gas fuel to additional trucking fleets which transport products for some of the country's largest and most well-known brands, accelerating the trucking industry's conversion to natural gas fuel.
AZZ Incorporated (NYSE:AZZ) posted a first quarter profit of $16 million, or $1.26 a share, as compared to $9.47 million, or $0.75 a share, in the same period a year earlier. Per-share earnings were not adjusted for the stock split. Adjusted quarter earnings were $1.02 a share. Revenue increased 11% to $127.1 million. Analysts expected per-share earnings of 81 cents, on $124 million in revenue.
Additionally, the Company declared a $0.25 per share cash dividend on the company's common stock outstanding. The cash dividend of $0.25 a share is prior to the effective date of the two-for-one stock dividend. The cash dividend will be paid at the close of business on July 26, 2012, to shareholders of record on July 12, 2012.