- PICO Holdings, Inc. (Nasdaq: PICO) $11.98. PICO Holdings announced that its board of directors has terminated John R. Hart as CEO of the Company, and as CEO of Vidler Water Company, effective immediately. In connection with his termination, Mr. Hart will receive severance benefits in accordance with his Amended and Restated Employment Agreement dated March 11, 2016. Raymond Marino, Chair of PICO’s board of directors, indicated, “The decision to terminate Mr. Hart was in the best interest of the Company and its shareholders.”
Notable 52-Week Highs and Lows 10/13: (PICO) (LNN) High; (HDP) (ERIC) (CXRX) Low
- Noble Energy (NBL) to Acquire Clayton Williams Energy (CWEI) for $2.7B in Cash and Stock
- Nasdaq hits record; bank earnings validate Wall St. rally
- Intrawest Resorts (SNOW) Exploring a Possible Sale - Reuters
- Alibaba (BABA) Has No Plans to Acquire Rest of Groupon (GRPN) - Source
- Time (TIME) Said to Soon Begin Discussions with Interested Buyers - Bloomberg
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- Hortonworks (Nasdaq: HDP) $6.97. Goldman Sachs downgraded Hortonworks from Buy to Sell and moved its price target from $13 down to $7. For more color, click here.
- Ericsson (Nasdaq: ERIC) $5.35. Ericsson continuing lower from earlier in the week after offering preliminary Q3 results. For more color, click here.
- Concordia International Corp. (Nasdaq: CXRX) $4.08. Concordia International announced the closing of its previously disclosed offering of 5 ½ year Senior Secured First Lien Notes. The closing of the Offering marks the formal conclusion of the Company's strategic review, which was originally announced on April 21, 2016. Going forward, the Company will continue to execute its business plan and will assess strategic alternatives in order to maximize value creation for shareholders.
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