Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Estee Lauder, Meredith Corp., DraftKings and more

Estee Lauder, Meredith Corp., DraftKings and more



Look at some of the biggest movers in the consumer market:

Estee Lauder (EL) – Cosmetics maker reported quarterly earnings of $ 1.62 per tonne. Shares, 30 cents pr. Share above estimates. Revenue came slightly below forecasts, however, as sales of Estee Lauder’s advanced products were affected by people continuing to work from home. Estee Lauder’s shares lost 3.5% in pre-market trading.

Meredith Corp. (MDP) – Meredith rose 11.5% in pre-market action following a Bloomberg report that it is in advanced talks to sell its 1

7 local TV stations to Gray Television (GTN) for an estimated $ 2.5 billion. People familiar with the matter say a deal could be announced as soon as this week.

DraftKings (DKNG) – The sports betting company was upgraded to “transition” from “market perform” at Cowen, pointing to a “robust” path to legalization for the industry and optimistic prospects for both growth and increases in market share. The stock rose 1.5% in pre-market trading.

Verizon (VZ) – Verizon is close to an agreement to sell media assets such as AOL and Yahoo to Apollo Global Management (APO), according to several reports. The transaction is said to be as much as $ 5 billion. Dollars and could be announced as soon as today.

Berkshire Hathaway (BRK.B) – Berkshire shares added 1% in the consumer market and are expected to reach record highs in today’s trading after the annual meeting this weekend. CEO Warren Buffett said Berkshire’s earnings are returning from the effects of the pandemic, and the company is also expanding its stock repurchases by a further $ 6.6 billion.

Moderna (MRNA) – The drugmaker’s shares jumped 2.9% in pre-market action after reaching an agreement to provide 500 million Covid-19 vaccine doses to low- and middle-income countries through a UN-funded program.

Canadian Pacific Railway (CP) – The Canadian Pacific lodged an objection to a decision exempting rival Canadian National Railway (CNI) from stricter merger rules based on its smaller size. The objection stems from the Canadian National’s attempt to outbid the Canadian Pacific in their search to buy US rail operator Kansas City Southern (KSU).

Dell (DELL) – Dell announced the sale of its Boomi cloud business to private equity firms TPG and Francisco Partners for $ 4 billion. Including debt.

Align Technology (ALGN) – The company behind Invisalign braces announced an accelerated $ 100 million share buyback deal with Goldman Sachs. The transaction implements the $ 600 million buyback program announced by Align in May 2018.

Li Auto (LI), Nio (NIO), XPeng (XPEV) – China-based electric car makers announced their delivery figures in April with Li Auto deliveries up 111% from a year ago, Nio up 125% and XPeng up 285%. Li Auto rose 2.3% in the consumer market, while XPeng rose 1.2%.

Novartis (NVS) – Swiss drugmaker Sandoz’s division has begun a late-stage trial of a biosimilar version of Regeneron’s (REGN) Eylea, designed to treat age-related macular degeneration. Novartis gained 1% in the consumer market.

Tilray (TLRY) – The Canadian-based cannabis producer saw its shares rise 1% in pre-market trading after announcing it had completed its merger with rival Aphria.


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