Constellation Brands, Inc. (NYSE: STZ) stock gained 4.61% to $38.06 after the company reported a third quarter profit of $109.5 million, or 58 cents a Class A share, up from $104.8 million, or 52 cents a share, a year ago. Adjusted earnings rose to 63 cents a share from 50 cents. Net sales were up 9.5% at $766.9 million. Constellation faced a fairly easy sales comparison from the prior year, when the top line slumped 27% primarily due to the sale of the Australia and U.K. wine business.
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FreeSeas Inc. (NASDAQ: FREE) shares climbed 9.62% to $0.285. The company, on Dec. 20, announced that, at the annual meeting of the Company, the Company's shareholders elected Xenophon Galinas to the Board of Directors for three years, approved a reverse split of the Company's issued and outstanding common stock at a ratio of up to one (1) for every twelve (12) shares outstanding and ratified the appointment of Sherb & Co., LLP as the Company's independent registered public accounting firm for the year ending December 31, 2012.
ClearOne Incoprorated (NASDAQ: CLRO) stock surged 51.47% to $6.71 after the company announced that with respect to the UBS arbitration, it has settled dispute for $45 million, effective December 10, 2012. With respect to the Morgan Stanley arbitration, the arbitration panel denied ClearOne's claims in their entirety.
The Goldfield Corporation (NYSEAMEX: GV) shares gained 13.30% to $2.47. The company, on Dec. 6, announced the election of John W. Davis III, 39, as President and chief executive officer of Southeast Power Corporation, its electrical construction subsidiary, effective January 1, 2013. Through Southeast Power, Goldfield, headquartered in Florida, is a leading provider of construction services to electric utilities, with operations primarily in the southeastern, mid-Atlantic, and western regions of the United States.
Perion Network Ltd (NASDAQ: PERI) shares climbed 3.04% to $12.56 in the early hour after Benchmark Co. began coverage on shares of Perion Network in a research note issued to investors today. The firm issued a buy rating and a $17.00 target price on the stock.
Additionally, the company, last week, announced revenue estimates for 2012 and its guidance for 2013. Revenues in the fourth quarter of 2012 are expected to reach a record $21 million, more than double the fourth quarter of 2011.
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