Shares of H.J. Heinz Company (NYSE: HNZ), a manufacturer and marketer of a range of food products throughout the world, are seeing a huge rally in trading today after the company agreed to be acquired by Warren Buffett’s Berkshire Hathaway and 3G Capital.
As per the terms of the agreement, Berkshire Hathaway and 3G Capital will pay $72.50 per share in cash to acquire Heinz. The offer price represents a premium of 20% over HNZ’s closing price of $60.48 on Wednesday.
William R. Johnson, Chairman, President and CEO of Heinz, said that the Heinz brand is one of the most respected brands in the global food industry and this historic transaction provide tremendous value to HNZ shareholders.
HNZ shares rose to a 52-week high of $72.61 earlier today. At last check, the stock was trading 19.91% higher at $72.52 on above average volume of 17.21 million.
Shares of Zillow Inc. (NASDAQ: Z), a real estate information marketplace, are soaring in trading today after the company reported record fourth-quarter and full-year 2012 financial results.
For the fourth quarter ended December 31, 2012, the company reported revenue of $34.3 million, compared to $19.9 million reported for the same period in the previous year. Net income for the fourth quarter was $0.5 million, compared to $0.9 million reported for the same period in the previous year. For the full year, the company reported revenue of $116.9 million, compared to $66.1 million reported for the same period in the previous year.
Spencer Rascoff, CEO of Zillow, said that the fourth quarter was another terrific one as incredible execution by the Zillow team re-accelerated year-over-year growth, and delivered revenue and profit that exceeded the company’s expectations. Rascoff further said that the quarter capped off a pivotal year of tremendous growth and the company is looking forward to 2013.
Zillow shares rose to a 52-week high of $47.85 earlier today. At last check, the stock was trading 14.22% higher at $44.51 on above average volume of 1.46 million.
Shares of ValueClick Inc. (NASDAQ: VCLK), a digital marketing services company offering a range of products and services that enable marketers to engage with the customers online and through mobile devices, are rallying in trading today after the company reported its fourth-quarter financial results.
For the fourth quarter ended December 31, 2012, ValueClick reported revenue of $199.6 million, representing an increase of 14% over the same period in the previous year. The company reported adjusted EBITDA of $77.1 million, representing an increase of 26% over the same period in the previous year. On a non-GAAP basis, the company reported net income of $0.56 per share, compared to $0.46 per share reported for the same period in the previous year.
John Giuliani, CEO of ValueClick, said that the company is seeing the early results of its initiatives to elevate its conversations with advertisers to become a more strategic and persistent marketing partner, while also executing on its goals of strong organic growth and profitability.
VCLK shares rose to a 52-week high of $26 earlier today. At last check, the stock was trading 15.94% higher at $25.31 on above average volume of 974,869.
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