Monday, July 30, 2012

Stocks In The News (DX, BBY, SHAW, EXEL, OCZ)

Dynex Capital Inc (NYSE:DX) went up 0.59% to $10.29 after the Company reported second quarter results. Net income was $18.8 million or $0.35 per diluted common share compared to $13.6 million or $0.34 per diluted common share in the second quarter of 2011. Book value per common share was $9.66 at June 30, 2012. Net interest spread was 2.18% for the second quarter of 2012.

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Best Buy Co Inc (NYSE:BBY) soared 0.79% to $17.90. According to a senior Best Buy executive, the founder of the Company, Richard Schulze has been recruiting executives to help lead the retailer if his attempt to take the Company private is successful.

The Shaw Group Inc (NYSE:SHAW) among the gainers and the stock increased 57.38% to $42.01. Chicago Bridge and Iron Company NV will acquire Shaw Group Shaw for $46.00 per share in cash and stock. The shareholders will receive $41.00 in cash and $5.00 in CB&I equity (for each share of Shaw stock. The acquisition is expected to close in early 2013.

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Exelixis Inc (NASDAQ:EXEL) moved up 1.40% to $6.49. The U.S. Food and Drug Administration have granted a priority review designation to its new drug application for cabozantinib. Cabozantinib is a potential treatment for medullary thyroid cancer and set an action date of Nov. 29. The Company said preclinical studies have shown cabozantinib kills tumor cells, reduces metastases and inhibits the formation of new blood vessels necessary to support tumor growth.

OCZ Technology Group Inc (NASDAQ:OCZ) increased 2.97% to $7.29. The Company said that the new state-of-the-art manufacturing facility in Taiwan has achieved ISO 9001: 2008 certification from the International Organization for Standardization.

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