News Effects on Stocks: The Boeing Company (NYSE:BA), Hertz Global Holdings, Inc. (NYSE:HTZ), Valeant Pharmaceuticals International, Inc. (NYSE:VRX)


Aerospace giant, The Boeing Company (NYSE:BA) reported on Tuesday that its BOD has elected Dennis Muilenburg the firm’s 10th CEO, succeeding W. James McNerney, Jr., who held the position for the previous 10 years. Muilenburg, who has served as Boeing president and chief operating officer since 2013, turns into president and CEO on July 1. McNerney, who joined Boeing’s board of directors in 2001, continues as its chairman. To ensure a smooth transition of his CEO responsibilities to Muilenburg, he will continue working as a company employee until retiring at the end of February 2016. Shares of The Boeing Company (NYSE:BA) traded at $143 by moving down -0.99% with price volatility of 1.37% for a week and 1.42% for a month. Its beta stands at 0.98 times.

Hertz Global Holdings, Inc. (NYSE:HTZ) released that its Hertz Equipment Rental Corporation or HERC subsidiary has named equipment rental industry veteran Bruce Dressel as Chief Operating Officer or COO of HERC. As COO of HERC, Dressel will focus on leading the sales and operations teams and driving growth in North America. He brings with him deep experience in the equipment rental industry and has more than 30 years in leadership and senior management roles. As President and CEO of Sunbelt Rentals, he grew the company from 24 to 195 locations during his tenure there. Hertz Global Holdings, Inc. (NYSE:HTZ) stock hit highest price at $20.72, beginning with a price of $20.68 and reported a decrease of -2.13%  to close at $20.26 with a day range of $20.22-$20.72.

Valeant Pharmaceuticals International, Inc. (NYSE:VRX) and Progenics Pharmaceuticals, Inc. (PGNX) reported that Valeant submitted a New Drug Application to the U.S. FDA for RELISTOR Tablets for the treatment of opioid-induced constipation or OIC in adult patients with chronic non-cancer pain. Progenics has wholly licensed development and commercialization rights for its first commercial product, RELISTOR, to Valeant Pharmaceuticals. RELISTOR Subcutaneous Injection is a treatment for opioid-induced constipation approved in the United States for patients with advanced illness and chronic non-cancer pain. Valeant Pharmaceuticals International, Inc. (NYSE:VRX) stock has highest price of $233.25 in last session, beginning with a price of $233.22 and reported a loss of -1.74% to close at $229.19 with a day range of $228.75-$233.25.

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Jason Dinner