NYSE Unusual Volume: McDermott International (MDR), Hawaiian Electric Industries (HE), Strategic Hotels and Resorts (BEE), Nordion (NDZ)

Posted by on Apr 03, 2014

McDermott International (NYSE:MDR) announced that the underwriter of the recently announced public offering of 6.25% tangible equity units (the “Units”), each with a stated value of $25.00, has exercised its option to purchase an additional 1,500,000 Units from McDermott. As a result of the exercise of the option, a total of 11,500,000 Units will be sold by McDermott, which will result in net proceeds to McDermott of approximately $279 million. The offering (including the Units subject to the option) is expected to close on April 7, 2014. McDermott International (NYSE:MDR) shares after opening at $7.02 on last trade day and at the end of the day closed at $7.06. Company price to sales ratio in past twelve months was calculated as 0.63 and price to cash ratio as 14.12. McDermott International (NYSE:MDR) showed a negative weekly performance of -9.37%.

The common stock of Hawaiian Electric Industries, Inc. (NYSE:HE) has been subject to abnormal trading volumes and substantial selling, apparently based on the release of a research report that contained multiple inaccuracies and made assertions about the potential need for the company to cut its dividend. Hawaiian Electric Industries, Inc. (NYSE:HE) shares fell -4.00% in last trading session and ended the day on $24.23. HE return on equity ratio is recorded as 9.80% and its return on assets is 1.60%. Hawaiian Electric Industries, Inc. (NYSE:HE) yearly performance is -6.84%.

Strategic Hotels and Resorts Inc (NYSE:BEE) announced two significant transactions: The closing of the sale of the Marriott London Grosvenor Square hotel and the acquisition of the remaining 50 percent ownership interest in the Fairmont Scottsdale Princess. Combined with the previously completed sale of the Four Seasons Punta Mita resort, the Company successfully executed over $715 million in transactions in the first quarter of 2014. Strategic Hotels and Resorts Inc (NYSE:BEE) shares moved up 0.87% in last trading session and was closed at $10.38, while trading in range of $10.25 – $10.47. Strategic Hotels and Resorts Inc (NYSE:BEE) year to date (YTD) performance is 9.84%.

Nordion Inc (USA) (NYSE:NDZ) announced that the Ontario Superior Court of Justice has granted an order extending the time for calling and holding the Company’s annual general meeting (the “AGM”), which was scheduled to take place on April 29, 2014. The order allows Nordion to combine its AGM with its shareholders’ special meeting to consider the transaction announced on March 28, 2014 whereby Nordion entered into a definitive agreement (the “Arrangement Agreement”) to be acquired by Sterigenics. The order further provides that the AGM has to be held no later than June 30, 2014. Nordion Inc (USA) (NYSE:NDZ) weekly performance is 10.27%. On last trading day company shares ended up $11.49. Nordion Inc (USA) (NYSE:NDZ) distance from 50-day simple moving average (SMA50) is 15.41%. Analysts mean target price for the company is $11.12.

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