Notable 52-Week Highs and Lows of the Day 06/25: (SCHW) (CYTK) (YRCW) High; (ANR) (DMD) (AVD) Low
The Charles Schwab Corp. (NYSE: SCHW) $21.00. Schwab has been moving higher over the last few months, really since the company posted its last quarterly beat in October 2012. Citi upgraded the stock on Monday and a new business alignment might be giving confidence to investors.
Cytokinetics (Nasdaq: CYTK) $13.38. Cytokinetics entered into a Collaboration and License Agreement with Astellas Pharma Inc. The primary objective of the collaboration to be conducted under the Agreement is to advance novel therapies for diseases and medical conditions associated with muscle weakness. Cytokinetics will receive an upfront payment of $16 million in connection with the execution of the Agreement, and is eligible to potentially receive over $24 million in reimbursement of sponsored research and development activities during the initial two years of the collaboration. Based on the achievement of pre-specified criteria, Cytokinetics may receive over $250 million in milestone payments relating to the development and commercial launch of collaboration products, including up to $112 million in development and commercial launch milestones for CK-2127107. Cytokinetics may also receive up to $200 million in payments for achievement of pre-specified sales milestones related to net sales of all collaboration products under the Agreement. In the event Astellas commercializes any collaboration products, Cytokinetics will also receive royalties on sales of such collaboration products, including royalties ranging from the high single digits to the high teens on sales of products containing CK-2127107. In addition to the foregoing development, commercial and sales milestones, Cytokinetics may also receive payments for the achievement of pre-specified milestones relating to the joint research program.
YRC Worldwide (Nasdaq: YRCW) $26.50. YRC moving higher as Standpoint Research initiated coverage on the stock with a Buy rating and $50 price target today. Alpha Natural Resources, Inc. (NYSE: ANR) $4.83. President Obama unveiled his new climate change regulations today, with coal stocks largely taking a blow as plans called for a limit to carbon emissions across all U.S. power plants.
Demand Media (NYSE: DMD) $6.21. Demand Media said it expected Q2 revs of $100 million to $101 million, or $95.5 million to $96.5 million ex-TAC, with the Street looking for revs of $101.7 million. Adjusted EPS expectations were unchanged. For more on the outlook, click here.
American Vanguard Corp. (NYSE: AVD) $22.77. American Vanguard said that it expects that results for the second quarter of 2013 not meeting the consensus revenue or earnings expectations published by research analysts covering the Company. Recent wet weather in the Midwest and Southeast United States was listed as the main catalyst.