Market Focus

Citizens Financial 

Citizens Financial made its trading debut on the NYSE today. The company, which is the U.S. banking unit of the Royal Bank of Scotland, is the second biggest IPO this year, after Alibaba of course. It raised about $3 billion from its offering, even though shares were priced at $21.50, below the expected range. The stock closed higher by more than seven percent to $23.08.

CyberArk Software

CyberArk Software also started trading today and was a big hit with investors. The Israeli data security company raised nearly $86 million in its initial public offering and it priced at $16 a piece, well above the expected range. Shares skyrocketed 87 percent to $29.93.

Pfizer & Actavis

Reports that Pfizer approached Actavis about a possible merger pushed up shares of both companies today. This comes after Pfizer abandoned its $114 billion bid for AstraZeneca, which would have allowed it to move its headquarters abroad in a tax inversion deal. Shares of Pfizer rose slightly to $30.31. Actavis also up about three percent to $248.

Hasbro & Mattel

The toy wars just got ice-cold. Hasbro has inked a deal with Disney to market dolls based on the blockbuster film ‘Frozen,’ taking the rights away from rival toy maker Mattel starting in 2016. The toy maker will also make dolls based on other classics like Cinderella, Beauty and the Beast and the Little Mermaid. Shares of Hasbro rose almost four percent to $54.95. Mattel was off more than one percent to $31.67.

Vail Resorts

Vail Resorts reported a wider loss in its fourth quarter party because its expenses rose. But its results were mixed, revenue climbed, topping estimates and its season ticket sales are ahead of where they were last year. Despite that the stock was more than one percent to $86.04.

Walgreen

Walgreen is reportedly looking to sell its infusion services business in a deal that could fetch around $1.5 billion. Infusion Therapy is when you administer specialty drugs intravenously. The drug store operator has hired Bank of America to run the sale process, according to those reports. Shares were up slightly to $61.52.

Starz

There’s also buzz that Starz, the pay television company is putting itself up for sale. Multiple reports say the movie cable channel has retained an investment banking firm to seek a possible buyer, one possible taker could be 21st Century Fox. Shares of Starz popped 5.5 percent to $31.23.

This entry was posted in Market Focus. Bookmark the permalink.

Leave a Reply