Tag: stock market

Walgreens Boots Alliance Inc. said Thursday it is reorganizing its management team as it continues to work to integrate Walgreens and Alliance Boots. The company said it has named Alex Gourlay, executive vice president of Walgreems Boots Alliance and President of Walgreens, and Ornella Barra, executive vice president of Walgreens Boots Alliance and president and chief executive of global wholesale and international retail, as co-chief operating officers. Gourlay will oversee Walgreens and Boots, while Barra will supervise global brands, human resources and other business services. Separately, the company said Simon Roberts, executive vice president of Walgreens Boots Alliance and president of Boots, will leave the company in July to pursue other opportunities. Shares were not yet active in premarket trade, but are down 6.7% while the S&P 500 has gained 3.7%.

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Shares of SolarCity Corp. surged 3.2% in premarket trade Thursday, after the solar power company was upgraded at RW Baird, on the belief that regulatory worries are overdone. Analyst Ben Kallo, who raised his rating to outperform from neutral, said he also believes the recent multiple financing deals SolarCity announced suggests should alleviate any concerns over the company’s balance sheet and access to liquidity. Kallo suggests investors may have overreacted to concerns over regulatory issues, such as NV Energy’s recent decision to cut net metering benefits, because support for solar in most net-metering cases. “We believe negative sentiment is overdone on one of the leading U.S. rooftop installer, and think shares are attractive at current levels,” Kallo wrote in a note to clients. The stock has plunged 55% year to date through Wednesday, while SPDR Utilities Select Sector ETF has run up 16% and the S&P 500 had gained 3.7%.

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Tempur Sealy International Inc. on Thursday said its board agreed to increase the company’s share buyback program by $200 million. The mattress and bedding company has spent about $195 million to buy back 3.4 million shares since the buyback program was announced in early February, according to a news release. After the approved increase, Tempur Sealy has about $205 million remaining for future buybacks. Shares of Tempur Sealy are down nearly 11% in the year to date, underperforming the S&P 500 Index, which is up almost 4%.

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The yield on the Britain’s benchmark government bond hit a record low Thursday, underscoring a recent rally among European bonds. The yield on the 10-year gilt hit an all-time low of 1.222%, according to Tradeweb. Yields move in opposite direction to prices. Investors appeared to be seeking the relative safety of bonds before the June 23 Brexit referendum in the U.K.​, which will ask voters whether​ the country should leave the European Union. After the European Central Bank on Wednesday kicked off its program of corporate-bond purchases, Germany’s 10-year bund yield touched an all-time low of 0.03%. On Thursday, the bund yield was down 1 basis point at 0.043%.

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Danish renewable energy group Dong Energy AS on Thursday completed its long-awaited initial public offering, with shares rallying almost 10% in the first 30 minutes of trading. The stock rose to 258 Danish kroner, up 9.8% from its IPO price of 235 kroner. The IPO price values the company at $15 billion, setting it on course for being one of the biggest European stock-market listings of the year. The indicative price range for the IPO had been set at 200 kroner to 255 kroner a share.

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From:: Stock Market News

Danish renewable energy group Dong Energy AS on Thursday completed its long-awaited initial public offering, with shares rallying almost 10% in the first 30 minutes of trading. The stock rose to 258 Danish kroner, up 9.8% from its IPO price of 235 kroner. The IPO price values the company at $15 billion, setting it on course for being one of the biggest European stock-market listings of the year. The indicative price range for the IPO had been set at 200 kroner to 255 kroner a share.

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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From:: Stock Market News

Danish renewable energy group Dong Energy AS on Thursday completed its long-awaited initial public offering, with shares rallying almost 10% in the first 30 minutes of trading. The stock rose to 258 Danish kroner, up 9.8% from its IPO price of 235 kroner. The IPO price values the company at $15 billion, setting it on course for being one of the biggest European stock-market listings of the year. The indicative price range for the IPO had been set at 200 kroner to 255 kroner a share.

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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Boston Scientific Corp. said late Wednesday it is restructuring to save the medical-device maker up to $150 million a year by 2020. The company said that it expects the number of employees to remain “relatively unchanged” as new jobs are created as obsolete ones are shed. Boston Scientific said it expects to spend $175 million to $225 million on the restructuring, which is expected to be completed by the end of 2018. Shares of Boston Scientific were unchanged at $22.80 after hours.

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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From:: Stock Market News

Boston Scientific Corp. said late Wednesday it is restructuring to save the medical-device maker up to $150 million a year by 2020. The company said that it expects the number of employees to remain “relatively unchanged” as new jobs are created as obsolete ones are shed. Boston Scientific said it expects to spend $175 million to $225 million on the restructuring, which is expected to be completed by the end of 2018. Shares of Boston Scientific were unchanged at $22.80 after hours.

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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The New Zealand dollar rose to 0.709 against the U.S. dollar on Wednesday, the highest in a year as the New Zealand central bank kept its official rate unchanged at 2.25%. “There continue to be many uncertainties around the outlook. Internationally, these relate to the prospects for global growth and commodity prices, the outlook for global financial markets, and political risks,” said the Reserve Bank of New Zealand in a statement following its decision. It also cited stable inflation, continued inflow of immigration and pressures in the housing market for standing pat on the monetary policy.

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From:: Stock Market News