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$GPS said that it expects an annualized savings of about $275MM due to the streamlining of its operating model and store closures. Annualized sales loss is expected to be about $250MM from the closure of approximately 75 stores. The company anticipates restructuring costs of about $300MM, of which about $100MM is estimated to be non-cash.
$WBA is yet to receive US anti-trust clearance for its Rite Aid acquisition. The deadline for the deal expires on January 27.
$BMY plunge 7.2%. No credits to the non-acceleration of approval for lung cancer combination treatment.
Well this is big! I don’t know if it’s someone’s monopoly or genuine excitement, but either way, $CSX is up 23% after market closed. I heard some activist investor is going to blow big money into CSX Corp. Anyone mind explaining?