Sucampo Pharmaceuticals Slumps 28% (PGH, CBK, NAV, LF, SCMP)
Pengrowth Energy Corp (USA) (NYSE:PGH) slipped 4.93% to $6.17. The Company announced that its monthly dividend payment will be reduced to Cdn $0.04 per month. The dividend change will come into effect for the dividend payable August 15, 2012 to shareholders. The decline in dividend was due to ongoing weakness in both spot and forward commodity price markets, large differentials for Alberta crude oil and increased uncertainty in the capital and property disposition markets.
Christopher & Banks Corporation (NYSE:CBK) declined 4.03% to $1.43 on a traded volume of 178k shares. The Board of Directors with the assistance of its outside financial and legal advisors has rejected Aria Partners’ unsolicited proposal to acquire all outstanding stock of the Company for $1.75 per share. The Board has also restated its commitment to its new management team’s strategic plan, which has already begun to demonstrate signs of progress.
Navistar International Corp (NYSE:NAV) among the losers and the stock decreased 15.60% to $24.30. The Company struggling to win U.S. regulatory approval for a new generation of diesel engine said that it was developing a new model expected to be ready early next year. The Company said the new engine would use liquid urea to help cut emissions of nitrogen oxide, a pollutant linked to asthma.
LeapFrog Enterprises Inc (NYSE:LF) decreased 3.43% to $10.99 on a traded volume of 1.56 million shares. The stock went down after the news of chief financial officer Mark A. Etnyre resigned from his position to spend more time with his family.
Sucampo Pharmaceuticals Inc (NASDAQ:SCMP) slipped 27.91% to $5.01 on a traded volume of 375k shares. The Company has received a final binding decision on its claims in the dispute with its partner Takeda Pharmaceutical Company Limited. The International Court of Arbitration International Chamber of Commerce did not agree with Sucampo’s claims and did not award any attorneys’ fees or costs.