Kolkata, West Bengal -- (SBWIRE) -- 10/02/2013 -- Specialpennystockalert.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on Akorn, Inc. (NASDAQ:AKRX), Under Armour Inc(NYSE:UA), Pitney Bowes Inc. (NYSE:PBI).
Akorn, Inc. (NASDAQ:AKRX) shares increased 4.12% to $20.49 in the last trading session. Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, on Sept. 25 said it is investigating the Board of Directors of Hi-Tech Pharmacal Co., Inc. ("Hi-Tech" or the "Company") (HITK) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Akorn, Inc. (AKRX) in a deal valued at $640 million. Under the terms of the proposed transaction, Hi-Tech's stockholders will receive $43.50 in cash for each share of Hi-Tech common stock they own.
Should Investors Buy AKRX After Yesterday’s Jump? Find Out Here
Under Armour Inc(NYSE:UA) shares gained 4.08% and closed at $82.69. UA’s stock was upgraded by JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued on Oct. 1. The firm currently has a $77.00 target price on the stock, up from their previous target price of $56.00. JPMorgan Chase & Co.’s price target would suggest a potential downside of 3.08% from the stock’s previous close.
Is UA A Good Buy After The Recent Price Movement? Find Out Here
Pitney Bowes Inc. (NYSE:PBI) shares climbed 4.07% and closed at $18.93. The company on Oct. 1 announced the successful completion of the sale of Pitney Bowes Management Services for $400 million in cash to funds affiliated with Apollo Global Management, LLC (NYSE:APO) (together with its consolidated subsidiaries, "Apollo"). Proceeds from the sale of the business will be used principally to pay down debt. Pitney Bowes Management Services becomes a standalone company which will operate under a new name to be determined by Apollo.
Should Investors Buy PBI After Yesterday’s Jump? Find Out Here
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