adminBausch + Lomb Jumps Amid Reports of a Sale
1 hr 8 min ago
Bausch + Lomb (BLCO) shares popped Monday following a report that the eyecare company is considering a sale.
The contact lens producer is working with Goldman Sachs (GS) on a deal that would see it separated from its severely indebted parent Bausch Health Cos. (BHC), the Financial Times reported Saturday. Bausch + Lomb was spun off from Bausch Health in 2022.2
Bausch + Lomb’s enterprise value including debt was at just over $10 billion as of the market close Friday, the report said.
Shares of Bausch + Lomb rose nearly 14% intraday Monday, and Bausch Health stock climbed 7%.
–Andrew Kessel
Alcoa Shares Rise After Company Sells Stake in Saudi JV
2 hr 31 min ago
Shares of Alcoa (AA) jumped Monday as the aluminum giant said it was selling its 25.1% stake in a joint venture with Saudi Arabia Mining Co., known as Ma’aden.
Alcoa said the transaction will net it $1.1 billion in Ma’aden stock and cash. That includes approximately 86 million Ma’aden shares valued at about $950 million. It requires Alcoa to hold the shares for a minimum of three years.
Alcoa shares, which have risen for four consecutive sessions, were up about 7% in recent trading. The shares are up about 20% over the past year.
–Bill McColl
Berkshire Hathaway Price Levels to Watch
3 hr 7 min ago
Shares of Warren Buffett’s Berkshire Hathaway (BRK.A, BRK.B) were moving higher Monday after retreating in recent weeks from from a record high set earlier this month that saw the company’s market capitalization briefly surpass $1 trillion for the first time.
During the stock's recent decline, trading volumes have decreased, indicating slowing selling momentum.
Investors should monitor important lower price levels in Berkshire Hathaway Class B shares at $446, $421, and $398, while watching the $480 area if the stock resumes its longer-term uptrend.
Read our full technical analysis piece here.
–Timothy Smith
Major Indexes Back Near End-August Levels
4 hr 20 min ago
The S&P 500, Nasdaq Composite and Dow Jones Industrial Average have recovered almost all of the ground lost during an early-September swoon. The major indexes are all less than 1% away from where they finished last month.
Nvidia Price Levels to Watch
4 hr 47 min ago
Nvidia (NVDA) shares are down in premarket trading after surging 16% last week, when investors snapped up a recent dip in the stock following favorable Wall Street commentary pointing to continuing growth opportunities amid insatiable demand for AI infrastructure.
The stock has rallied towards the top trendline of a descending channel, though the move has occurred on lackluster volume, indicating a lack of institutional activity.
Investors should monitor key overhead price levels on Nvidia's chart at $126, $136, and $166, while watching important lower price levels at $97 and $75.
Read our full technical analysis piece here.
–Timothy Smith
Futures Tied to Major Indexes Mixed
5 hr 14 min ago
Futures tied to the Dow Jones Industrial Average were up 0.3%.
S&P 500 futures were down fractionally.
Nasdaq 100 futures were off 0.4%.
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