News In Considerations: Celgene Corporation (NASDAQ:CELG), Guess’ Inc. (NYSE:GES), Allegheny Technologies Inc. (NYSE:ATI)

April 26, 2023 6:39 am1 commentViews: 96

Celgene Corporation (NASDAQ:CELG) released on Tuesday that it decided to purcahse Receptos Inc. (RCPT) for around $7.2B in cash. Celgene will take over all of the outstanding shares of Receptos through a wholly-owned subsidiary for $232 a share in cash. The transaction has been permitted by the boards of directors of both companies and is subject to customary closing condition. The deal is expected to close this year itself. Celgene said the acquisition of Receptos significantly enhances its Inflammation & Immunology portfolio, further diversifies the company’s revenue beginning in 2019 and beyond, and builds upon Celgene’s growing expertise in inflammatory bowel disease. Celgene Corporation (NASDAQ:CELG) has the market capitalization of 104.21 Billion. Shares of firm surged 6.95% to close at $131.39 with the total traded volume of 21.14 Million. The firm has current ratio of 4.60 for the most recent quarter.

Guess’ Inc. (NYSE:GES) moved up in previous trading session as Paul Marciano, co-founder and CEO of fashion house Guess? Inc (GES) decalred that Victor Herrero will be his successor and new CEO of the company in August 2015. Paul Marciano said he will replace Maurice Marciano as executive chairman of the board and will continue serving as chief creative officer. Maurice Marciano will remain a director, and has been named chairman emeritus by the board. “We believe that Victor is the perfect top executive because, in addition to his entrepreneurial spirit, he has unparalleled experience in building a large business in Asia, he has a deep understanding of the current world of retail, and he is extremely knowledgeable in best in class sourcing and supply chain,” said Paul Marciano in a statement. Guess’ Inc. (NYSE:GES) begun last trade with a price of $22.78 and throughout the trading session climbed at a high of $23.35. The day-trade ended with 7.04% to $22.65. The stock is going forward to its 52 week low with 39.61% and lagging behind from its 52 week high price with -13.75%. GES last month stock price volatility remained 2.38%.

Allegheny Technologies Inc. (NYSE:ATI) declared that it anticipates to release a net loss attributable to company of $16 to $18 million, or $0.15 to $0.17 per share, for the second quarter, due mainly to challenging business conditions in its Flat Rolled Products business and further weakening in demand from the oil and gas market. Analysts polled by Thomson Reuters currently expect the company to earn $0.20 per share for the second quarter. Analysts’ estimates typically exclude special items. The company said its second quarter performance continued to be pressured by the ATI Flat Rolled Products segment, which recorded its sixth quarterly operating loss over the last eight quarters. Allegheny Technologies Inc. (NYSE:ATI) stock price closed at $26.20 with the total traded volume of 6.22 Million shares. Its price to sales ratio ended at 0.66. Its market capitalization is 2.86 Billion. The stock owned by the Financial Institutions was 78.70% while by insiders was 1.20%.

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