Worth Watching Stocks to Track: Cosi Inc (NASDAQ:COSI), Cabelas Inc (NYSE:CAB), Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR)

On Monday, Shares of Cosi Inc (NASDAQ:COSI), SUBTRACT -20.28% and closed at $0.0570 in the last trading session. The last trading range of the stock ranges between $0.05 and $0.07. Così, Inc. (COSI), the fast-casual restaurant company, recently declared that, on September 29, 2016, it received notice from the Listing Qualifications Department of The Nasdaq Stock Market indicating that, in accordance with Listing Rules 5101, 5110(b) and IM-5101-1, Nasdaq has determined that the Company’s securities will be delisted from The Nasdaq Stock Market.  Given the continued listing requirements of The Nasdaq Stock Market and the Company’s pending Chapter 11 cases, the Company does not plan to appeal the Nasdaq determination to delist the Company’s common stock.  Accordingly, trading of the Company’s common stock will be suspended at the opening of business on October 10, 2016, and a Form 25-NSA will be filed with the Securities and Exchange Commission, which will remove the Company’s securities from listing and registration on The Nasdaq Stock Market.

The Company’s securities may be eligible to be quoted as an OTC security, also known as the “Pink Sheets.” To be quoted as an OTC security, a market maker must sponsor the security and comply with SEC Rule 15c2-11 before it can initiate a quote in a specific security. If the Company’s securities are delisted from The Nasdaq Stock Market, there can be no assurance that a market maker will apply to quote the Company’s common stock or that the Company’s common stock will become eligible for trading as an OTC security.

Cabelas Inc(NYSE:CAB), jumped 15.02% and closed at $63.18 in the last trading session. The last trading range of the stock ranges between $62.70 and $63.24. The company’s Market capitalization is $4.44 Billion with the total Outstanding Shares of 68.47 Million. Shareholder rights attorneys at Robbins Arroyo LLP are investigating the projected acquisition of Cabela’s Incorporated (CAB) by Bass Pro Shops (Private). On October 3, 2016, the two companies declared the signing of a definitive merger agreement following which Bass Pro will acquire Cabela’s. Under the terms of the agreement, Cabela’s shareholders will receive $65.50 for each share of Cabela’s common stock.

Robbins Arroyo LLP’s investigation focuses on whether the board of directors at Cabela’s is undertaking a fair process to obtain maximum value and adequately compensate its shareholders.

As an initial matter, the $65.50 merger consideration represents a premium of only 19.20% based on Cabela’s closing price on September 30, 2016. This premium is significantly below the average one day premium of nearly 70.97% for comparable transactions within the past five years. In the last three years, Cabela’s traded as high as $72.53 on March 21, 2014.

On July 28, 2016, Cabela’s stated strong earnings results for its second quarter 2016. Cabela’s stated revenue of $929.9 million for the three months ended July 2, 2016, an 11.2% increase from the same period of the prior year. In commenting on these results, Cabela’s Chief Executive Officer Tommy Millner remarked, “Success in our expense administration efforts allowed us to take a more aggressive price and promotion approach in the second quarter. This approach led to improvements in transaction trends, positive comparable store sales, growth in Internet and catalog sales, and market share improvements.”

Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR), gained 3.97% and closed at $9.70 in the last trading session. The last trading range of the stock ranges between $9.34 and $9.71. During the 52-week trading session the minimum price at which share price traded, registered at $2.71 and reached to max level of $10.24. Petróleo Brasileiro S.A. – Petrobras operates as an integrated energy company in Brazil and internationally. Its Exploration and Production segment engages in the exploration, development, and production of crude oil, natural gas liquids, and natural gas; and sale of crude oil and oil products produced at natural gas processing plants in domestic and foreign markets. The company’s Refining, Transportation and Marketing segment is involved in the refining, logistics, transport, and trading of crude oil and oil products, in addition to exports ethanol and invests in petrochemical companies. This segment also engages in the extraction and processing of shale. The company’s Gas and Power segment engages in the transportation and trade of natural gas and liquid natural gas; generation and trade of electricity; holding interests in natural gas transportation and distribution, and thermoelectric power plants; and fertilizer business. Its Biofuels segment is involved in the production of biodiesel and its co-products, in addition to in the investment, production, and trading of ethanol, sugar, and the electric power generated from sugarcane bagasse.

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