Category: Stock Market News

Walgreens Boots Alliance Inc. is making a bid to take over AmerisourceBergen Corp. , the Wall Street Journal reported late Monday, in a deal that could be worth around $20 billion. Shares of AmerisourceBergen shot up more than 20% after hours. The Journal said Walgreens has made a high-level outreach to the drug distributor, and that talks are in their early stages. Walgreens already owns about 26% of AmerisourceBergen. As of the end of regular trading Monday, AmerisourceBergen’s market cap stood at $19.65 billion. Walgreens’ market cap was about $67.8 billion.

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From:: Stock Market News

Walgreens Boots Alliance Inc. is making a bid to take over AmerisourceBergen Corp. , the Wall Street Journal reported late Monday, in a deal that could be worth around $20 billion. Shares of AmerisourceBergen shot up more than 26% after hours. The Journal said Walgreens has made a high-level outreach to the drug distributor, and that talks are in their early stages. Walgreens already owns about 26% of AmerisourceBergen. As of the end of regular trading Monday, AmerisourceBergen’s market cap stood at $19.65 billion. Walgreens’ market cap was about $67.8 billion.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Equifax Inc. said late Monday that it has named Jamil Farshchi as the company’s chief information security officer. Equifax stock was up a fraction to $114.60 after hours. Farshchi has previously served in the same role at Home Depot Inc. ; details about his total compensation were not immediately available. Equifax announced a massive data breach in September affecting 173 million people around the world. In February, a report said that the Consumer Financial Protection Bureau has scaled back its investigation into Equifax following the breach. The credit reporting company’s stock is down 12% in the past 12 months, with the S&P 500 index rising 13%.

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MoviePass said on Monday that it has closed partnership deals with more than 1,000 movie theaters and several major Hollywood studios, allowing them to target their advertising spend. The partnerships will allow studios to market films directly to MoviePass’s 2 million subscribers through email and mobile push notifications, as well as have films prominently displayed within the app. The company said in a news release that cinemas also gain access to marketing opportunities in the MoviePass app and priority placement, among other things. “In the old days, the studios would pay advertising dollars without the ability to track results,” MoviePass Chief Executive Mitch Lowe said. “With the MoviePass platform, the studios pay MoviePass only when the MoviePass subscriber goes to the movie.” The partnerships give MoviePass much needed additional revenue streams outside of subscriptions. Selling customer data and capitalizing on MoviePass’s growing audience has been the company’s plan since Helios & Matheson Analytics Inc. bought a majority share last summer. Shares of Helios & Matheson have gained nearly 118% in the last 12 months, while the S&P 500 index is up 15%.

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Oil edged up Monday, tracking gains in the U.S. stock market after a drop last week, but prices for the U.S. benchmark still settled near the session’s lows. In a monthly report Monday, the Energy Information Administration said it expects to see a further rise in domestic shale-oil production next month. March WTI rose 9 cents, or nearly 0.2%, to settle at $59.29 a barrel on the New York Mercantile Exchange.

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The Dow Jones Industrial Average Monday afternoon was rising by nearly 500 points, as the blue-chip benchmark was buoyed by solid gains in shares of Apple Inc. and Boeing Co. The pair of Dow components were contributing more than 120 points to the Dow . The average was up $12.52, or 3.8%, at $345.29, while shares of Apple rose 4%, or $6.21, to $162.64. A $1 move in any one of the Dow’s components equates to a 6.83-point swing in the price-weighted average. Shares of General Electric Co. was the only laggard among Dow components. The Dow was recently up 476 points, or 2%, at 24,664, as the benchmark attempted to post its second straight gain after U.S. stocks got rocked last week, putting in their worst stretch of gains since early 2016, with all of the main benchmarks posting a loss of at least 5% for the week. Most recently, the S&P 500 index , meanwhile, was up 1.6% at 2,660, while the Nasdaq Composite Index advanced 1.6% at 6,986.

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Shale crude-oil production from seven major U.S. oil plays is expected to see a monthly climb of 110,000 barrels a day in March to 6.756 million barrels a day, according to a report from the Energy Information Administration released Monday. Oil output from the Permian Basin, which covers parts of western Texas and southeastern New Mexico, is expected to see the largest climb among the big shale plays, with an increase of 75,000 barrels a day. The report was released about half an hour ahead of the settlement for futures prices. March West Texas Intermediate oil was up 60 cents, or 1%, to $59.80 a barrel on the New York Mercantile Exchange.

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Gold prices settled higher on Monday, buoyed by a weaker dollar, even as U.S. stocks rebounded from the sharp declines they suffered last week. April gold rose $10.70, or 0.8%, to settle at $1,326.40 an ounce. Prices saw their biggest one-day dollar and percentage gain since Jan. 24 and recouped about half of last week’s 1.6% loss.

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President Donald Trump’s daughter-in-law was sent to the hospital on Monday after a letter with an unidentified substance was sent to her apartment, according to NBC News’ local affiliate in New York. The suspicious package was sent to Vanessa Trump, who is married to Donald Trump Jr. The report, quoting unidentified officials, said Vanessa and two others were taken to a hospital for observation. A preliminary investigation suggests the powder is not hazardous, the report said.

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Cardlytics Inc. is up over 20% in afternoon trading Monday, on its second trading day after the company’s Friday initial public offering. The stock traded up 20.46% to $16.13, after closing 2.9% above its $13 IPO price the first day of trading. The marketing-data company’s executives told MarketWatch that even as the S&P 500 index index entered correction territory last week, there was no discussion about yanking the IPO and taking the company public during more favorable conditions. In the nine months ending in September, Cardlytics logged losses of $16 million on sales of $91 million. Its IPO netted $70.2 million after pricing at the low end of the $13-to-$15 forecast range. Chief Executive Scott Grimes called Cardlytics “a money machine” in an interview.

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