On Monday, Shares of Janus Capital Group Inc (NYSE:JNS), added 12.06% and closed at $15.70 in the last trading session. The last trading range of the stock ranges between $15.50 and $16.62. Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor LLP are investigating potential claims against the Board of Directors of Janus Capital Group, Inc. (“Janus”) (JNS) concerning the sale to Henderson Group plc. Under the terms of the agreement, Janus shareholders will only receive 4.7190 shares of Henderson for each share of Janus common stock owned, which is virtually no premium over the 52-week high and lower than at least one analyst’s estimated value of $16.00 per share.
The investigation centers on whether Janus’ Board of Directors is acting in the shareholders’ best interests, whether the board considered alternatives to the acquisition, and whether the board has employed an adequate process to review and act on the projected transaction. Notably, at least one analyst with Yahoo! Finance believes the true inherent value of the stock could be as high as $16.00.
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles various complex business litigation matters, counting claims of shareholder and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
KBR, Inc. (NYSE:KBR), DROPPED -9.91% and closed at $13.63 in the last trading session. The last trading range of the stock ranges between $13.16 and $14.17. The company’s Market capitalization is $1.97 Billion with the total Outstanding Shares of 142.48 Million. KBR, Inc. (KBR) declared recently that the Company has updated earnings guidance for 2016 to reflect expected increases in costs to complete engineering, procurement and construction (“EPC”) projects.
The majority of the cost increases relate to an EPC project for an electric power-generating facility within our Non-planned business segment. As formerly declared, the Company intends to exit the fixed priced EPC business for new power projects and this project is the last within the Company’s backlog of unfilled orders. The raised forecast costs are mainly driven by subcontractor cost increases because of recent poor productivity, plan delay and changes in execution strategy. These costs stem from the impact of poor performance by the turbine supplier which continues to adversely impact construction progress. The project is about 86% complete as of September 30, 2016 with anticipated completion in the first half of 2017.
An EPC ammonia project in the Company’s Engineering & Construction business segment has continued to experience unforeseen costs during startup and commissioning related to mechanical failures of a vendor-supplied compressor and pumps. These issues have further delayed expected completion of the project to October 2016 resulting in raised construction and repair costs and the recognition of contractual liquidated damages. This project is in the final stages of completion and start-up in anticipation of performance testing.
The amount of the expected cost increases is about $130 million on a pretax basis (EPS $0.91). We intend to seek compensation from vendors on both projects but, at this time, have not assumed any recovery in the financial results. As a result, KBR is revising full-year earnings guidance for 2016 EPS to a range of $0.30 to $0.50 per diluted share from the prior range of $1.20 to $1.45 per share apart from legal costs associated with legacy U.S. Government contracts. KBR anticipates the legacy legal costs to be about $15 million, or $0.11 per fully diluted share in 2016.
EXACT Sciences Corporation (NASDAQ:EXAS), gained 1.51% and closed at $18.85 in the last trading session. The last trading range of the stock ranges between $17.82 and $19.53. During the 52-week trading session the minimum price at which share price traded, registered at $4.67 and reached to max level of $22.80. Exact Sciences Corp. (EXAS) recently declared that Cologuard® is now included in the 2017 Healthcare Effectiveness Data and Information Set (HEDIS) quality measures for colorectal cancer screening. The new quality measures were published by the National Committee for Quality Assurance (NCQA). More than 90 percent of America’s health plans measure quality based on HEDIS.
“Cologuard’s inclusion in the preeminent quality measures and its standing as an A-graded service in a leading screening guideline are critical steps toward becoming a standard of care for colon cancer screening,” said Kevin Conroy, chairman and CEO of Exact Sciences. “Quality measures rate health care providers, systems and payers on metrics, counting colon cancer screening compliance and patient satisfaction. These quality scores influence the level of reimbursement providers receive under value-based health care structures. Providers can now receive quality credit when their patients are screened using Cologuard, and Exact Sciences’ comprehensive compliance program encourages completion of screening following a physician’s prescription.”
The HEDIS quality measures promote evidence-based health care and quality service to patients by assessing the performance of health plans on multiple measures. Colorectal cancer screening compliance and patient satisfaction are two measures that are evaluated to generate an overall quality score. Cologuard continues to achieve a nearly 70-percent compliance rate1 and survey data shows that 88 percent of patients have a very positive experience2 using Cologuard and engaging Exact Sciences’ compliance program. Conversely, colonoscopy and fecal blood testing compliance rates are typically much lower.