Finally, Zagg (NASDAQ:ZAGG) is losing its Chairman and CEO Robert Pedersen. Perdersen has resigned from the company and gave no reason for his departure. Chief Operating Officer Randall Hales was appointed at interim CEO while the board searches for a permanent replacement. Some analysts have cut their ratings on the stock in response to the resignation. So far this year Zagg’s stock is up 19%. Zagg stock plummeting on this personnel change. Its stock is down 14% to $7.25.
Big acquisition news on Wall Street this morning. Aetna has announced it will buy Coventry Health Care for $5.7 billion in an effort to deal with the government’s healthcare reform. The total value of the deal comes out to $42.08 per Coventry share, a 20.4% premium on the stock’s Friday closing price. Aenta says the acquisition will help strengthen its Medicare and Medicaid business units to provide sufficient coverage once the new government overhaul expands the federally funded programs. Both Coventry Healthcare and Aetna are seeing gains over this acquisition news. Aetna stock is up over 4% while Coventry shares are trading over 19% higher.
If you like your animal encounters from the comfort of your own car, we have some bad new for you. New Jersey’s Six Flags Great Adventure has said today that it will be ending the practice of allowing guests to drive their own cars through its animal sanctuary. Before this announcement, Six Flags guests were permitted to drive personal vehicles through the sanctuary grounds, experiencing the wildlife at their own pace. The new rules will go into effect when the animal sanctuary closes for the season on September 30th. Six Flags said that the animal sanctuary will remain, as will the animals within it, but future plans for the area will not be available until August 30th. It is expected that the amusement park chain will announce changes at its other locations as well.
Certain investors received some startling news today as Zeekler.com and ZeekRewards are being accused of fraud. More specifically, The Securities and Exchange Commission claims that the two auction websites are actually a $600 million Ponzi scheme. The SEC says that, in line with a Ponzi scheme, 98% of the supposed revenue and net profit created by the two ventures was actually funds from new investors.Both ZeekRewards and Zeekler.com have been shut down, and federal courts have frozen their assets, amounting to $225 million.
Maria Sharapova may be best known for her tennis talents and marketing campaigns, but now she’s going into business for herself, and it sounds pretty sweet. That’s because Sharapova is launching a line of gummy candies under the name Sugarpova. Starting this monday, the new company will offer treats with names such as Flirty, Cheeky and Sporty. The new candies will be in shapes that exemplify their famous creator, like tennis balls and hand bags. The Candy Connoisseur is planning a big event in New York City to launch the candies, as well as an appearance on Late Night with Jimmy Fallon. On top of all this Sharapova will be playing the U.S. Open as early as August 27th.
Regulus Therapeutics, a biopharmaceutical company founded by Alnylam Pharmaceuticals (ALNY) and Isis Pharmaceuticals (ISIS), announced today that it has filed a registration statement on Form S-1 with the SEC relating to a proposed IPO. All shares of the common stock to be sold in the offering will be offered by Regulus.
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let’s look at two noteworthy recent insider buys.
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let’s look at two noteworthy recent insider buys.
The Daily Ticker’s Aaron Task interviews Patrick DeHaan
In trading on Monday, airlines shares were relative leaders, up on the day by about 0.7%. Leading the group were shares of US Airways Group (LCC), up about 4% and shares of United Continental Holdings (UAL) up about 3.7% on the day.
