Lakeway, TX -- (SBWIRE) -- 02/06/2013 -- Bestdamnpennystocks, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-
Reliance Steel & Aluminum (NYSE:RS) soared 8.33% to $70.08. The Company will acquire all outstanding shares of Metals USA Holdings Corp. for $20.65 per share in cash, representing an enterprise value of approximately $1.2 billion. The transaction is expected to close in the second quarter of 2013. Upon completion of the acquisition, Reliance will have total assets of over $6.5 billion and annual sales of over $10.0 billion. The transaction is subject to approval by Metals USA stockholders, along with the receipt of regulatory clearances and the satisfaction of other customary closing conditions.
Is RS after A Solid Pop Up? Find Out Here
Wynn Resorts, Limited (NASDAQ:WYNN) slipped 2.91% to $122.08. The Company reported three positive recent developments for the Company and its shareholders. First, the Nevada Gaming Control Board has informed Wynn Resorts that it has ended its investigation of allegations made by Okada against Wynn Resorts and determined that Okada's allegations are unfounded. Second, the United States District Court of Nevada granted Wynn Resorts' motion to dismiss a shareholder derivative action against the Company and members of its Board of Directors based on the Macau donation. Third, Institutional Shareholder Services Inc. has issued a report recommending that shareholders of Wynn Resorts vote to remove Okada from the Board of Wynn Resorts at a special meeting of shareholders to be held on February 22.
How Should Investors Trade WYNN After The recent Earnings Report? Find Out Here
Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) went down 4.07% to $19.81. The Company announced unaudited financial results for the fourth quarter of 2012. Net revenue for the fourth quarter of 2012 increased 9% to $1,101.8 million. The adjusted EBITDA was $247.5 million for the fourth quarter of 2012, as compared to adjusted EBITDA of $231.6 million in the fourth quarter of 2011. The net income attributable was $108.0 million or $0.20 per ADS compared to net income of $107.5 million or $0.20 per ADS in the fourth quarter of 2011.
Why Should Investors Consider Buying MPEL Now? Find Out Here
Groupon Inc. (NASDAQ:GRPN) surged up 2.94% to $5.28. Deutsche Bank raised its price target on Groupon, Inc. (NASDAQ: GRPN) from $4 to $6 saying they have become incrementally more positive. The firm, however, is maintaining a Hold rating.
Is GRPN after A Solid Pop Up? Find Out Here
Orexigen Therapeutics, Inc. (NASDAQ:OREX) increased 0.33% to $6.04. The 52 week range of the stock is $2.82 and $7.73 The Company focuses on the development of pharmaceutical product candidates for the treatment of obesity.
Is OREX Still a Buy After The Recent momentum? Find Out Here
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