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Investopedia
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Bausch + Lomb (BLCO) shares popped Monday following a report that the eyecare company is considering a sale.
The contact lens producer is working with Goldman Sachs (GS) on a deal that would see it separated from its severely indebted parent Bausch Health Cos. (BHC), the reported Saturday. Bausch + Lomb was spun off from Bausch Health in 2022.Bausch + Lomb’s enterprise value including debt was at just over $10 billion as of the market close Friday, the report said.
Bausch Health has $21 billion in debt following a string of takeovers, with $10 billion coming due by the end of 2027, the report added.
However, since Bausch + Lomb is a key revenue-generating subsidiary, the parent firm would have to pass a solvency test before a sale of the contact lens producer can be approved.
In July, Bausch Health pushed back against a research firm's report saying it was mulling bankruptcy options.
Shares of Bausch + Lomb rose nearly 14% intraday Monday, and Bausch Health stock climbed 6%.
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Investopedia
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Target (TGT) on Monday announced the dates for its fall Circle Week savings event and said it plans to hire roughly 100,000 seasonal employees across its stores and warehouses.
The retailer said it plans to offer discounts as part of its Circle Week promotion Oct. 6 through Oct. 12, including a "deal of the day" program with one-day-only deals. The one-day deal program will also come back starting Nov. 1, with sales running through the end of the holiday season for Target Circle members.
Target is starting its seasonal hiring process later this month, with plans to hire 100,000 employees across the company's retail locations and supply chain facilities. The retailer said more than half of last year's seasonal hires were offered full-time roles once the holiday season ended.
The October sales event will be Target's second Circle Week of the year, as Target and other retailers have launched sales events to compete with Amazon's (AMZN) Prime Day in the summer and Prime Big Deals Day in the fall. Aside from noting that it will return in October, Amazon has not said specifically when this year's Prime Big Deals Day will take place.
Target shares were up about 0.8% at $152.64 in early trading Monday following the news and have gained about 7% so far this year.
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Instablog9ja
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In a move to combat Nigeria’s escalating food shortage, President Bola Tinubu has given each of his ministers 1,200 bags of rice.
The Minister of Solid Minerals Development, Dr Dele Alake, in a statement on Sunday said that the rice is intended as palliatives for only the aged in the state.
According to the minister, “Following the decision of the Presidency to respond to the yearnings of the Nigerian people to make more food available at the grassroots, 1,200 bags were made available to each minister to further supplement the established channels of distribution such as state governments and civic organisations.
We need to reach out to our aged fathers and mothers at times like this to demonstrate the Omoluabi values of taking care of the old in the community.
In the spirit of inclusion, it is important that we channel this intervention to mainly elderly citizens who do not have the strength to compete for welfare goods such as these at the established centres. We have taken their inventory and we are delivering to them.
Subsequent interventions will target other segments of the populace such as widows, orphans, persons living with disabilities and students in higher institutions of learning.”
#Instablog9jaNews #TrendingStory #Awareness #StayUpdated
Investopedia
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Fans of football and award shows were able to breathe a sigh of relief over the weekend, as DirecTV and Disney (DIS) agreed to a distribution deal Saturday, bringing Disney-owned channels back to DirecTV subscribers.
The timing of the agreement meant that roughly 11 million Americans had access to ESPN, ABC, National Geographic, and other channels returned ahead of college football, Sunday's Emmy Awards broadcast, and Monday Night Football featuring the Philadelphia Eagles and Atlanta Falcons.
As part of the new contract, DirecTV will be able to offer subscribers access to genre-specific packages like sports or family programming through Disney's channels, along with access to Disney's streaming services in Hulu, Disney+, and ESPN+.
“Through this first-of-its-kind collaboration, DIRECTV and Disney are giving customers the ability to tailor their video experience through more flexible options," the companies said in a statement. "DIRECTV and Disney have a long-standing history of connecting consumers to the best entertainment, and this agreement furthers that commitment by recognizing both the tremendous value of Disney’s content and the evolving preferences of DIRECTV’s customers."
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Investopedia
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Pfizer (PFE) said this weekend that a drug aimed at helping cancer patients losing appetite and muscle mass showed positive results in a Phase 2 trial.
The pharma giant said ponsegromabwill start late-stage trials next year. The drug aims to treat cancer cachexia, the life-threatening wasting condition that often affects patients with the disease.
"This study showed us those who received ponsegromab had improvement in body weight, muscle mass, quality of life, and physical function," said Dr. Jeffrey Crawford, principal investigator and George Barth Geller Professor for Research at Duke Cancer Institute.
Pfizer said cachexia affects about 9 million people worldwide but there are no Food and Drug Administration (FDA)-approved treatments.
Pfizer shares are up less than 1% about 45 minutes before the opening bell Monday and are 2% higher this year.
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Investopedia 4 hrs 14
Shares in Warren Buffett's Berkshire Hathaway (BRK.A, BRK.B) will likely remain in the spotlight to start the week as the stock continues to retreat from a record high set earlier this month that saw the conglomerate's market capitalization briefly surpass $1 trillion for the first time.
Bearish sentiment in recent days could potentially relate to a regulatory filing last Wednesday that revealed Berkshire’s top insurance executive, Ajit Jain, sold more than half his Class A shares in the company. Jain’s insider selling, coupled with the conglomerate slowing its stock repurchases and letting its cash pile swell to $277 billion, has possibly raised valuation concerns among investors.
While the industrial conglomerate’s more-affordable Class B stock was nearly 8% below its Sept. 4 high through Friday’s close, it has still gained around 26% since the start of the year, handily outpacing the S&P 500’s 18% return over the same period. Class B shares were up 0.2% at $448.70 in premarket trading about two hours before Monday's opening bell.
Below, we’ll take a closer look at what the technicals on Berkshire’s chart are saying and discuss important price levels to watch out for.
Since a doji candlestick marked the stock’s record high earlier this month, the price has undergone an orderly retracement.
Importantly, during the decline, trading volumes have decreased, indicating slowing selling momentum.
Looking ahead, investors should eye three lower price levels on Berkshire’s chart likely to remain in play amid further weakness.
The first sits around $446, an area just below Friday’s closing price where the shares could attract buying interest near the July swing high and a minor pause in the stock’s impulsive move higher between early August and early September.
A failure to hold this level could see the shares decline to the $421 area, a location on the chart where investors may look for buying opportunities near a horizontal line linking the prominent February and April peaks with several trading levels situated in close proximity to last month’s low.
Ongoing selling in Berkshire shares may bring the $398 region into play. This area, which lies slightly below a multi-month uptrend line and the 200-day moving average, would likely encounter support from a trendline connecting a series of price action from early February to early May.
If Berkshire shares find a floor at current levels and resume their longer-term uptrend, investors should monitor the $480 level, an area where investors may look to exit the stock around its record high. Such a move which would complete a basic five phase Elliot Wave pattern.
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