Nike, Constellation Brands fall premarket; Apple, Carnival rise
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Bausch & Lomb Corp. (BLCO) PT Raised to $23 at BofA Securities on new acquisition
July 3, 2023 6:53 AM EDTBofA Securities analyst Craig Bijou raised the price target on Bausch & Lomb Corp. (NYSE: BLCO) to $23.00 (from $19.00) while maintaining a Buy rating.
The analyst is positive on the acquisition of Novartis dry eye disease (DED) drug.
"We see the deal as a meaningful... More
Bausch + Lomb Corporation (BLCO) shares surge on $2.5bn deal to acquire XIIDRA
June 30, 2023 11:19 AM EDTBausch + Lomb Corporation (NYSE: BLCO) shares surged Friday after the company announced a deal to acquire XIIDRA from Novartis for up to $2.5 billion.
BLCO shares are currently up more than 5% at $20.20 after initially hitting a high of $21.95 per share.
The company, through an affiliate, will acquire XIIDRA, libvatrep, and AcuStream in a deal worth up to $2.5 billion, including an upfront payment of $1.75 billion in cash with potential milestone obligations up... More
Deutsche Bank expects continued strength in June auto sales
June 30, 2023 9:20 AM EDTThe auto industry is gearing up to announce their sales figures for June, and according to Deutsche Bank, there is an anticipation of the US light vehicle SAAR reaching approximately 15.5 million units. This would mark an increase from May's 15.1 million units, mainly attributed to more favorable seasonal factors. Moreover, the projected figure for June 2023 is notably higher than June 2022, which stood at 13.2 million units.
Analyst, Emmanuel Rosner wrote in a note, We expect June US light vehicle SAAR to come in around 15.5m units, up from 15.1m in May... More
Constellation Brands (STZ) Q1 performance boosted by strong beer sales
June 30, 2023 8:55 AM EDT(Updated - June 30, 2023 9:02 AM EDT)
Shares of Constellation Brands (NYSE: STZ) are down more than 2% premarket Friday after the company released earnings for its latest quarter.
The company reported Q1 comparable EPS of $3.04 (excluding Canopy EIE), $0.21 better than the analyst estimate of $2.83, while revenue for the quarter came in at $2.52 billion versus the consensus estimate of $2.47 billion.
STZ said its beer business achieved strong double-digit net sales growth and a mid-single-digit depletion increase primarily driven by the continued momentum of the Modelo brand family.
"Our Beer Business... More
