Friday, September 21, 2012

Stocks In News (MCD, ACUR, PEIX, MMC, KORS)

McDonald's Corporation(NYSE:MCD) stock gained 0.69% to $93.79 after the company announced that its Board of Directors declared a quarterly cash dividend of $0.77 per share of common stock payable on December 17, 2012, to shareholders of record at the close of business on December 3, 2012. This represents a 10% increase over the Company's previous quarterly dividend.

Acura Pharmaceuticals, Inc.(NASDAQ:ACUR) stock increased 3.88% to $1.87 after the company said that it has received notification from a generic sponsor of the filing of an Abbreviated New Drug Application for a generic drug listing Pfizer Inc.'s (PFE) OXECTA (oxycodone HCl) Tablets CII as the reference listed drug. OXECTA is covered by U.S. patents issued to Acura and licensed to Pfizer. The notification includes a Paragraph IV certification indicating the generic sponsor believes Acura's patents are invalid, unenforceable or not infringed. Acura said it plans to take appropriate action to enforce its intellectual property.

Pacific Ethanol Inc(NASDAQ:PEIX) shares plunged 25.52% to $0.402 in the early hour after the company announced that it has priced an underwritten public offering of 27.5 million units at a price to the public of $0.40 per unit, for gross offering proceeds of $11.0 million. The Company intends to use the net proceeds from the offering to fully repay $10.0 million in senior unsecured notes that are due in April 2013, with the balance to be used for general corporate purposes. Under the terms of the offering, each unit consists of one share of common stock and one warrant to purchase one share of common stock.

Will PEIX Continue To Move Higher? Find Out Here

Marsh & McLennan Companies, Inc.(NYSE:MMC) shares increased 0.70% to $34.61 after the company announced that Brian Duperreault, will retire as the Company's President and Chief Executive Officer at year end. Daniel S. Glaser, currently the Company's Group President and Chief Operating Officer, has been named Mr. Duperreault's successor and will become President and Chief Executive Officer effective January 1, 2013.

Additionally, the company announced that it declared a quarterly dividend of $.23 per share on outstanding common stock, payable on November 15, 2012 to shareholders of record on October 11, 2012.

Michael Kors Holdings Ltd(NYSE:KORS) shares jumped 7.51% to $56.52 after the company announced that for the second quarter of 2013, it expects diluted earnings per share (EPS) to be in the range of $0.38 to $0.40 as compared to its previous guidance of $0.33 to $0.35 and total revenue to be in the range of $510 million to $520 million. Analysts are expecting the company to report revenue of $493 million and EPS of $0.36 for second quarter of 2013.

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