Stocks in News: RIMM, DIOD, GE, BKS, TM

PUBLISHED: Dec 28 2012 @ 13:37 | Comments (0) | More info about Ed Liston

Research in Motion Limited (NASDAQ:RIMM): The Canadian telecom company announced the sale of NewBay unit as a part of its restructuring plans. The company had bought the unit for $100 million and the sales deal is reported to have been struck at $55.5 million.

Research in Motion sold the unit to Synchross Technologies. RIMM stock is currently trading at $11.95, up 1.62 percent from its previous close. The stock has traded in the range of $6.22 and $17.96 in the past 52 weeks. It is trading above its 20 days moving average price of $11.81 and 50 days moving average price of $11.78. Research in Motion commands $6.15 billion in market capitalization. The company is planning to launch its new BlackBerry 10 phone in January. It had reported its latest EPS at -$1.62 per share and its stock is trading at the beta of 1.65. Research in Motion is based out of Canada and it is operational globally.

Diodes Incorporated (NASDAQ:DIOD): The stock is trading marginally down at $17.11 and has traded between $16.84 and $17.20 in this session. Its 52 weeks trading range is at $12.95 and $27.57. The company recently announced that it has agreed to purchase Cayman Islands based BCD Semiconductor Manufacturing Ltd. The deal is said to be worth $151 million and the consideration is payable in cash. Diodes Incorporated priced BCD stock at $8 per ADS. The deal has been approved by the board of directors of both the companies and the deal is likely to be finalized in the first quarter of the next year. Diodes Incorporated is looking to expand its portfolio through acquisition and the deal will help the company to augment its analog product line. The company has market capitalization of $791 million and its stock is trading at Price Earnings ratio of 34.36.

General Electric Company (NYSE:GE): The company has inked a new deal with Woodward Inc. for the sale of its aerospace business for $200 million. General Electric stock is currently trading 0.39 percent down at $20.63 and its highest price point for the trading session stood at $20.68. The stock’s lowest price point for the session stood at $20.44. General Electric commands market capitalization of $216 billion. The company reported its latest EPS at $1.26. Its stock is currently trading above its 20 days moving average price and 50 days moving average price of $20.6. General Electric’s aviation business counts Safran and Boeing as its clients. The company is also going to collaborate with Woodard for its thrust reverser actuation systems. The new deal is payable all in cash. General Electric offers financial and technology services and it is based out of Connecticut.

Barnes & Noble Inc. (NYSE:BKS): The company reported sale of its 5 percent stake in Nook e-book unit to Pearson Plc. The deal has been priced at $89.5 million. The stock is currently trading at $15.27, up 6.41 percent from its previous close. It is trading below its 20 days moving average price and 50 days moving average price of $15.31. Barnes & Noble stock has oscillated between $14.60 and $15.74 in the current trading session. Its 52 weeks price range is at $9.35 and $26. Barnes & Noble has $917 million in market capitalization. After this new deal with Pearson Plc, Barnes & Noble will have 78.2 percent stake in Nook Media. Microsoft holds 16.8 percent share in the business. However, the company said that the Nook unit is not likely to meet guidance for its 2013 fiscal year. The deal will also provide Pearson an option to increase its stake in Nook to 10 percent through vesting of warrants.

Toyota Motor Corporation (NYSE:TM): The stock traded between $92 and $92.45 in the current trading session and is at $92.14. Toyota Motor has traded in the range of $65.71 and $92.69 in the past 52 weeks. The motor company announced that it has agreed to pay settlement for its various lawsuits related to acceleration problems. The company would be paying more than $1 billion in compensation. Toyota Motor has market capitalization of $146 billion and its stock is trading at the beta of 0.75. Toyota Motor carries out automobile business and also provides allied financial services. Its designs, manufactures and sells cars and trucks.

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