Northern, WI 12/6/2012 (BasicsMedia) – Today’s top 5 movers are a smattering of buyouts and bounces after sell off’s.
Epoch Investments (NASDAQ:EPHC) +26% TD Bank Group plans to buy Epoch Holding Corp. in a $668 million cash deal that will give the Canadian bank a U.S. asset manager to help its North American wealth business.
Colleen Johnston, chief financial officer for TD Bank, said the deal accelerates TD’s growth strategy in its U.S. wealth management business. TD Bank has been expanding aggressively in retail banking in the U.S. in recent years.
TD Bank said Thursday it will pay $28 for each share of Epoch, which represents a premium of about 28 percent to Epoch’s Wednesday closing price of $21.91. The company’s stock price has climbed as high as $27.87 in the past year, but shares were down slightly so far in 2013, as of Wednesday’s close.
Net 1 UEPS (NASDAQ:UEPS) +22% On the back of the DOJ investigation shares get a bounce after a big selloff. The company said in a statement, ”
As a preliminary matter, we believe that it is important to note that these investigations are investigations and not findings of wrongdoing on the part of any person and that we are fully cooperating with the investigations.
We want to assure our stakeholders that we are continuing to provide the South African government with our payment delivery service to the millions of South Africans who depend on us to deliver their social security grants in a timely and efficient manner and that we have no reason to believe that these investigations will impact our ability to continue to do so . ”
BSD Medical (NASDAQ:BSMD) + 22% BSD Medical announced a 586% increase in sales for the MicroThermX Microwave Ablation System product line for the fiscal quarter ended November 30 as compared to the fiscal quarter ended November 30, 2011. Disposable SynchroWave antennas were a significant portion of these sales.
Metabolix (NASDAQ:MBLX) +25% today announced that it has received a subaward under the Advanced Research Projects Agency – Energy (ARPA-E) to work with the UCLA Henry Samueli School of Engineering and Applied Science to redesign carbon fixation pathways to increase the efficiency of capturing energy from sunlight. This is the third grant awarded to Metabolix in 2012 for leading-edge crop research targeting multi-gene expression and transformation of plants, and builds upon its years of experience in transforming plants for bio-product production. Funding from these three grants will total nearly $1 million and will run through 2014.
Disclaimer: We have no position in any stock mentioned here.