Notable 52-Week Highs and Lows 10/12: (CUDA) (IPCI) (PKG) High; (ERIC) (NVO) Low

October 12, 2016 2:35 PM EDT

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52-Week High:
  • Barracuda Networks (NYSE: CUDA) $26.69. Barracuda Networks reported Q2 EPS of $0.21, which was $0.08 better than the analyst estimate of $0.13. Revenue for the quarter came in at $87.9 million versus the consensus estimate of $85.27 million.

  • Intellipharmaceutics International Inc. (Nasdaq: IPCI) $3.33. Intellipharmaceutics International Inc. (Nasdaq: IPCI) announced that it has entered into a license and commercial supply agreement with Mallinckrodt, by which the Company has granted Mallinckrodt an exclusive license to market, sell and distribute in the United States certain extended release drug product candidates for which Intellipharmaceutics has abbreviated new drug applications filed with the U.S. Food and Drug Administration.

  • Packaging Corporation of America (NYSE: PKG) $82.98. Packaging Corporation of America announced that it has entered into a definitive agreement to acquire substantially all of the assets of Columbus Container, Inc., an independent corrugated products producer, in a cash-free, debt-free transaction for a cash purchase price of $100 million.
52-Week Low:
  • Ericsson (Nasdaq: ERIC) $5.56. Ericsson announced that the business result for the third quarter 2016 will be significantly lower than company expectations. The negative industry trends from the first half of 2016 have further accelerated, impacting Q3, 2016 numbers primarily in Segment Networks. The sales decline was mainly driven by markets with weak macro-economic environment such as Brazil, Russia and the Middle East, impacting both coverage and capacity sales in those markets. In addition, capacity sales in Europe were lower following completion of mobile broadband projects in 2015.

  • Novo Nordisk (NYSE: NVO) $39.33. Novo Nordisk shares continuing lower after the company recently announced that it has received a Complete Response Letter from the US Food and Drug Administration (FDA) regarding the New Drug Application for faster-acting insulin aspart. In the letter, the FDA requested additional information related to the assay for the immunogenicity and clinical pharmacology data before the review of the New Drug Application can be completed. Novo Nordisk is evaluating the content of the Complete Response Letter and will work closely with the FDA to resolve the outstanding issues.

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