Traders Alert: Canadian Solar Inc, CapLease Inc, Exide Technologies, Valeant Pharmaceuticals Intl Inc
Canadian Solar Inc.(NASDAQ:CSIQ) shares increased 16.32% to $10.02. The company on May 28 announced its financial results for the first quarter ended March 31, 2013. Net revenue for the first quarter of 2013 was $263.6 million, down 10.6% from $294.8 million in the fourth quarter of 2012 and down 19.1% from $325.8 million in the first quarter of 2012. Net loss attributable to Canadian Solar in the first quarter of 2013 was $4.4 million, or $0.10 per diluted share, compared to net loss of $105.0 million, or $2.43 per diluted share, in the fourth quarter of 2012,and net loss of $21.3 million, or $0.49 per diluted share, in the first quarter of 2012.
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CapLease, Inc. (NYSE:LSE) stock gained 19.93% to $8.52. American Realty Capital Properties, Inc. (Nasdaq: ARCP) and CapLease, Inc. (NYSE: LSE) announced on May 28 that they have signed a definitive merger agreement under which ARCP will acquire all of the outstanding shares of CapLease in a transaction valued at approximately $2.2 billion. Both companies’ boards of directors have unanimously approved the agreement. Following a stockholder vote by CapLease, the transaction is expected to close during the third quarter of 2013. As result of the merger, ARCP expects to be the 3rd largest net lease real estate investment trust (“REIT”) in the United States based on total pro forma equity market capitalization.
Exide Technologies (NASDAQ:XIDE) shares jumped 7.85% to $0.485. Glancy Binkow & Goldberg LLP on May 25 announces that purchasers of the common stock of Exide Technologies (“Exide” or the “Company”) (NASDAQ:XIDE) between February 9, 2012 and April 3, 2013 (the “Class Period’) have until June 14, 2013 to file a motion with the Court to be appointed as lead plaintiff. The shareholder lawsuit was filed in the United States District Court for the Central District of California.
Valeant Pharmaceuticals Intl Inc(NYSE:VRX) shares gained 9.48% to $92.50. VRX and Bausch + Lomb Holdings Incorporated, on May 27 announced that they have entered into a definitive agreement under which Valeant will acquire Bausch + Lomb for $8.7 billion in cash. Under terms of the agreement, which was unanimously approved by the Board of Directors of both companies, Valeant will pay aggregate consideration of $8.7 billion in cash, of which approximately $4.5 billion will go to an investor group led by Warburg Pincus and approximately $4.2 billion will be used to repay Bausch + Lomb’s outstanding debt.