Friday, July 23, 2021

Change Healthcare (CHNG) Rose 30%, Alibaba (BABA) Dropped 5% On Wednesday

On Wednesday, one of the biggest gainers was Change Healthcare Inc (CHNG) stock, which climbed 30.04% to $23.72 while UnitedHealth Corporation Incorporated (UNH) rose by +4.2% to $359.27. A deal to purchase Change Healthcare for $8 billion was announced by UnitedHealth, with a 41% premium. The private insurance will pay $25.75 for each share of Change Healthcare, up from $18.24 at close on the previous day. Taking the assumed debt of around $5 billion into account, the ‘contract’ is $13 billion.


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AmerisourceBergen Company (ABC) improved by +8.6% to $106.17 while Walgreens Boots Association, Inc. (WBA) rose by +4.54% to end the session at $43.03. ABC expects to purchase the U.S. pharmacy distribution company for $6.5 billion


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General Motors Corporation (GM) rose to $42.98, up +3.17 percent. In 2020, the Detroit auto giant announced car sales down 6.2 percent in China.

Tiffany & Co. (TIF) rose by +0.02% to $131.46. The New York jewelry group, whose integration with the French LVMH will be completed today, has reported record holiday season revenues, with a rise in online sales, but also an increase in mainland China sales. For the duration from November 1 to December 31, the company recorded net revenue growth of 2 percent. Online sales have increased by more than 80%, while net sales in the Asia-Pacific region have increased by 20%, with a result in China of more than 50%.

Alibaba Group Holding Limited (BABA) declined by -5.32% to $227.61. The Chinese e-commerce colossus, whose creator Jack Ma has been out of the news for more than two months, is preparing to collect at least $5 billion via a bond issue this month. This is what Reuters has heard from four sources that are well informed. Eight Chinese apps, including Alibaba and Tencent, were also blocked by Trump.

Carlyle Group Inc. (CG) fell -1.3% to $31.03. CG announced the purchase of Rigaku, a deal worth around $1 billion from Japan, even as the manufacturer of the X-ray instrument plans to go public.

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