Published On: Fri, Jun 24th, 2016

Stocks With Major Move: Depomed, Inc. (NASDAQ:DEPO), Groupon (NASDAQ:GRPN), TransCanada (NYSE:TRP)

Depomed, Inc. (NASDAQ:DEPO) [Trend Analysis] surged 2.88% to close at $19.67 with the total traded volume of 671753 shares. DepoMed (DEPO) aims to hold a special shareholders meeting on Oct 28 following outcome of Nucynta patent litigation. The firm reported that, in response to a second record date request by Starboard Value LP, it has set a record date of August 19, 2016 to determine shareholders entitled to call a special meeting of shareholders.

Depomed also reported its proposal to hold a special meeting called by its Board on October 28, 2016, that is intended to occur following resolution of the Firm’s ongoing NUCYNTA patent litigation, which is predictable no later than September 30, 2016. Depomed’s proposed timeframe i) ensures that shareholders have all of the relevant information to make an informed voting decision at a special meeting, and ii) falls within the same timing as would be accessible to Starboard should it elect to proceed with its special meeting request. Depomed’s proposed special meeting would be called by the Board, and thus would not require any public solicitation on the part of Starboard. . The firm’s shares performance for the last one month was -2.29% and -1.21% in the previous week, whereas year to date performance was calculated 8.49%.

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Groupon, Inc. (NASDAQ:GRPN) [Trend Analysis] shown itself as moving stock, raised 3.08% to close at $3.35. Groupon (GRPN) reported that its on-demand delivery service OrderUp inks alliance accord with Qdoba Mexican Eats, a sub of Jack in the Box (JACK), to deliver from a number of the restaurants’ locations.

The founder, OrderUp, Chris Jeffery stated that they are excited to partners with Qdoba and provide them with the scale and end-to-end ordering and delivery capabilities they need to reach new consumers. “We live in an on-demand world, and more and more national brands are recognizing the importance of a trusted delivery partner to bring their food directly to consumers when they want it, whether it’s to their home, place of work or wherever they’re located.”

Mark Lohmann, Qdoba’s Vice President of Strategy and Business Development, stated, “On-demand delivery of high-quality foods with craveable flavors is clearly an innovative and growing trend that our target consumers are embracing. We see this as a great prospects to enhance convenience for our guests.” Its total outstanding shares are 583.58 million shares and a floated share was 410.99 million.

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TransCanada Corporation (NYSE:TRP) [Trend Analysis] stock closed at $44.96 in last session with the total traded volume of 838908. TransCanada Corporation (NYSE:TRP) together with Columbia Pipeline Group, Inc. (NYSE:CPGX) reported that at a special meeting held earlier recently in Houston, Texas, Columbia’s stockholders voted to adopt before reported merger contract. About 95.33% of votes cast by Columbia stockholders were in favour of adoption of the merger contract, which will have TransCanada takeover Columbia for US$25.50 per share of ordinary stock in cash, resulting in an aggregate purchase price of about US$13 billion, comprising the assumption of about US$2.8 billion of debt.

TransCanada’s president and chief executive officer, Russ Girling stated that they are very happy with support of Columbia’s stockholders. Recently’s vote is an important milestone that moves them closer to completing this acquisition and creating one of North America’s leading natural gas transportation and storage companies. “Columbia’s assets and development projects are managed by a dedicated employee base with experience and a commitment to operating safely, and we look forward to working with them.” As taking short look on the firm profit margin was recorded -12.50%, and operating margin was recorded -5.20%.

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