News Buzz: Cognizant Technology Solutions Corp (NASDAQ:CTSH), Lowe’s Companies, Inc. (NYSE:LOW), Suncor Energy Inc. (USA)(NYSE:SU)

On Thursday, Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH), added 2.54% and closed at $51.25 in the last trading session. The last trading range of the stock ranges between $49.68 and $51.37. Ryan & Maniskas, LLP declares that a class action lawsuit has been filed in United States District Court for the District of New Jersey behalf of all persons or entities that purchased the common stock of Cognizant Technology Solutions Corporation (“Cognizant” or the “Company”) (CTSH) between February 25, 2016 and September 30, 2016, inclusive (the “Class Period”).

According to the complaint, on February 25, 2016, Cognizant filed a Form 10-K for the fiscal year 2015 with the U.S. Securities and Exchange Commission, attesting to the accuracy of financial reporting, the disclosure of any material changes to the company’s internal controls over financial reporting, and the disclosure of all fraud. The complaint alleges, however, that Cognizant officials failed to disclose that the company made improper payments for gaining permits and building licenses for some of its twelve facilities in India, and that the company lacked effective internal controls over financial reporting.

Lowe’s Companies, Inc. (NYSE:LOW), dropped -0.31% and closed at $71.10 in the last trading session. The last trading range of the stock ranges between $70.33 and $71.36. The company’s Market capitalization is $63.28 Billion with the total outstanding Shares of 874.66 million. Lowe’s Companies, Inc. (LOW) (“Lowe’s”) and RONA inc. (RON.TO)(RON-PA.TO) (“RONA”) declared recently that Lowe’s, through a wholly owned partner, and RONA have reached a definitive agreement for the acquisition of RONA’s outstanding Cumulative 5-Year Rate Reset Series 6 Class A Preferred Shares and Cumulative Floating Rate Series 7 Class A Preferred Shares (collectively, the “Preferred Shares”) for C$24 per share in cash following a plan of arrangement under the Business Corporations Act (Québec).

The board of directors of RONA, after consultation with its financial and legal advisors, has unanimously approved the transaction and has resolved to unanimously recommend that holders of the Preferred Shares (the “Preferred Shareholders”) vote in favour of the transaction at a meeting of Preferred Shareholders to be held to consider the transaction. RBC Capital Markets has offered a fairness opinion to RONA’s board of directors that, subject to the assumptions, limitations and qualifications set out in such fairness opinion, and as of the date of such opinion, the consideration under the transaction is fair from a financial point of view to the Preferred Shareholders.

Suncor Energy Inc. (USA)(NYSE:SU), jumped 1.43% and closed at $28.47 in the last trading session. The last trading range of the stock ranges between $27.67 and $28.62. During the 52-week trading session the minimum price at which share price traded, registered at $18.71 and reached to max level of $30.70. Suncor Energy UK Limited (“Suncor”) recently declared it has closed the formerly declared purchase of a 30 per cent participating interest in the U.K. North Sea Rosebank project from OMV (U.K.) Limited.

All necessary regulatory approvals have been received and as per the agreement, Suncor has made an initial payment of US$50 million to OMV (U.K.) Limited.

In the event the co-venturers approve the Rosebank project final investment decision and Suncor elects to take part, Suncor could pay additional consideration to OMV (U.K.) Limited of up to US$165 million, subject to adjustments according to the terms of the agreement.

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