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Company News for April 24, 2012

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•    Ardea Biosciences, Inc. (NASDAQ:RDEA) gained 51.7% after the company agreed to be purchased by the AstraZeneca plc (NYSE:AZN) at a price of $1.26 billion

•    Shares of Helix Energy Solutions Group Inc. (NYSE:HLX) soared 6.7% after the company reported better-than-expected first quarter earnings per share of $0.73, surpassing the Zacks Consensus Estimate of $0.44

•    Kellogg Company (NYSE:K) lost 6.1% after the cereal and snacks maker said its actual full year earnings will be less than expected due to weakness in its European business and low volumes in some U.S. operations, as well as investment plans related to future growth

•    Shares of Otelco, Inc. (NASDAQ:OTT) declined 44.6% after one of its largest clients, Time Warner Cable Inc (NYSE:TWC), hinted that it may not renew its contract to acquire Otelco’s wholesale network connections

•    STMicroelectronics N.V. (NYSE:STM) fell 9.6% after ST-Ericsson, its joint venture with Ericsson (NASDAQ:ERIC) announced it was laying off 1,700 workers as part of a restructuring exercise

•    Wal-Mart Stores, Inc. (NYSE:WMT) dropped 4.7% after the blue-chip discount retailer disclosed it was  investigating of its Mexico subsidiary as it has violated a U.S. law that prohibits bribery in foreign countries
 

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Read the analyst report on WMT

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