News Buzz: Ruckus Wireless (RKUS), Cardtronics (CATM), L-3 Communications (LLL), uniQure N.V. (QURE), Qihoo (QIHU)

Shares of Sunnyvale, California-based Ruckus Wireless, Inc. (RKUS) declined to $10.82 in the previous session in New York and have fallen nearly 3.05% in morning trading Tuesday, after the provider of carrier-class Wi-Fi solutions announced that its Chief Technology Officer is leaving the company to pursue new interests, and has stepped down as a member of the Board of Directors.

Currently, more than 309K RKUS shares have changed hands, compared to the average volume of 1.41 million.

Shares in the $908.91 million market cap company are up 10.41% year-over-year and off about 28.82% from their Sept. 10, 2014, $15.20 52-week high.

Shares of Cardtronics Inc. (CATM) are down $0.46, or 1.22%, at $37.18. The world’s largest retail ATM owner/operator announced this morning the signing of an agreement to sell the retail portion of its U.K. cash-in-transit operation for approximately $28 million.

“This divestiture allows Cardtronics to continue to strengthen the efficiency of our UK operations and focus on our core ATM customers,” said in a statement Jonathan Simpson-Dent, Managing Director, Cardtronics Europe.

CATM shares are currently priced at 39.01x this year’s forecasted earnings, compared to the industry’s 11.14x earnings multiple. Ticker has a t-12 price/sales ratio of 1.55. EPS for the same period registers at $0.95.

Shares of L-3 Communications Holdings Inc. (LLL) are lower by 1.25% in early morning trading on Tuesday.

The $9.72 billion market cap company announced today that its electro-optics business, L-3 KEO, was awarded a $48.7 million, competitively bid contract from the Naval Sea Systems Command to develop and build a new version of its photonics mast for the Block 4 Low Profile Photonics Mast program for use on Virginia-class submarines.

Under the terms of the contract, L-3 KEO will perform engineering and design work for the lower-profile mast during the first year, with options to produce up to 29 photonics masts over a subsequent four-year period, as well as engineering services and provisioning item orders with a contract maximum ceiling value of $157 million.

After falling to a $118 intraday low L-3 shares recently traded at $118.03.

The stock has a 52-week range of $99.33 to $132.92. LLL is up 5.08% year-over-year, compared with a 11.87% gain in the S&P 500.

Shares of uniQure N.V. (QURE) are up  by 2.53% to $27.10 in early trading on Tuesday morning, after the company announced the closing of its strategic collaboration with Bristol-Myers Squibb (BMY) to develop gene therapies for cardiovascular disease. Closing triggers $50 million payment to uniQure.

In the past 52 weeks, shares of Amsterdam, Holland-based company have traded between a low of $8.31 and a high of $35.50, which is 327.20% above that low price. Over the past 5 trading sessions the stock has lost 0.41%. Ticker is up 204.49% year-over-year and 78.46% year-to-date.

The chart below shows where the stock has traded over the last year.

Shares of Qihoo 360 Technology Co. Ltd. (QIHU) are down 1.40% to $54.70 in early trading Tuesday on news the company will increase its ownership stake in the Coolpad E-commerce JV to 49.5%.

Mr. Hongyi Zhou, Chairman and CEO of Qihoo 360, commented, “We are very excited to increase our ownership position in the Coolpad JV which underscores our increased confidence in the future of this JV.”

QIHU shares have lost $0.76 intraday, printing a market cap of roughly 7.02 billion. The stock traded as high as $104.81 in July 29, 2014. Shares of Qihoo 360 Technology Co. Ltd. have fallen roughly 37% in the past year and 3.49% year-to-date.

Be the first to comment

Leave a Reply

Your email address will not be published.


*