Stocks in Focus: Sony Corporation, AVEO Pharmaceuticals Inc, Tata Motors Limited, Radian Group Inc
Sony Corporation (ADR)(NYSE:SNE) shares fell 3.01% to $20.98. The company’s directors are discussing whether to adopt billionaire Daniel Loeb’s proposal for an initial public offering of its entertainment business, a week after the TV maker said the assets weren’t for sale on May 23. “It’s only a start,” Chief Executive Officer Kazuo Hirai said of the talks, without giving a timeframe for any response. “It’s important that the board will discuss this and come to a decision that represents Sony’s stance.”
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AVEO Pharmaceuticals, Inc.(NASDAQ:AVEO) shares decreased 3.33% to $2.61. The company on May 23 said it was informed by its partner Astellas Pharma Inc that the Japanese company would not be seeking marketing approval for their experimental kidney cancer drug in Europe. Astellas does not intend to fund any future studies of the drug, tivozanib, in renal cell cancer, Aveo said in a regulatory filing. Aveo is also evaluating tivozanib as a therapy for treating metastatic colorectal cancer and breast cancer.
Tata Motors Limited (ADR) (NYSE:TTM) shares dropped 3.38% to $25.48. Tata Motors Limited is an automobile company. Through its other subsidiary, the Company is engaged in providing engineering and automotive solutions, construction equipment manufacturing, automotive vehicle components manufacturing and supply chain activities, machine tools and factory automation solutions, high-precision tooling and plastic and electronic components for automotive and computer applications, and automotive retailing and service operations.
Radian Group Inc. (NYSE:RDN) shares declined 2.69% to $13.04. The company, on May 1, reported a net loss for the quarter ended March 31, 2013, of $187.5 million, or $1.30 per diluted share. This compares to a net loss for the quarter ended March 31, 2012, of $169.2 million, or $1.28 per diluted share.
Additionally, the company announced a quarterly dividend on May 15. Shareholders of record on Tuesday, May 28th will be paid a dividend of $0.0025 per share on Wednesday, June 5th. This represents a $0.01 annualized dividend and a dividend yield of 0.07%.