Arab Today, arab today us stocks edge lower cvs buys omnicare
Last Updated : GMT 16:12:16
Arab Today, arab today
Arab Today, arab today

US stocks edge lower CVS buys Omnicare

Arab Today, arab today

Arab Today, arab today US stocks edge lower CVS buys Omnicare

CVS Health
New York - AFP

Wall Street stocks edged higher in early trade Thursday following news that CVS Health would acquire senior pharmacy services company Omnicare for $12.7 billion.

About 35 minutes into trade, the Dow Jones Industrial Average was at 18,295.28, up 9.88 points (0.05 percent).

The broad-based S&P 500 rose 3.22 (0.15 percent) to 2,129.07, while the tech-rich Nasdaq Composite Index advanced 6.58 (0.13 percent) to 5,078.32.

CVS said the purchase of Omnicare will enable it to boost prescription sales in assisted-living and long-term care facilities. The transaction comes on the heels of numerous deals in the pharma and health care industries.

Omnicare rose 1.3 percent, while CVS advanced 2.8 percent.

The muted opening trade follows modest moves earlier in the week. "The stock market has logged three full days of trading this week and it has basically gone nowhere," said Briefing.com analyst Patrick O'Hare.

Hewlett-Packard advanced 0.9 percent after announcing it will sell a 51 percent stake in its China-based server business for $2.3 billion to Tsinghua Holdings, the investment arm of China's Tsinghua University. The two companies are creating a new company called H3C.

Electronics retailer Best Buy jumped 5.5 percent as first-quarter earnings translated into 37 cents per share, eight cents above analyst forecasts.

Amazon surged 2.8 percent on news that Morgan Stanley raised its profit forecasts, citing improved efficiencies at the online retailer.

Salesforce, a cloud computing company, vaulted 5.3 percent after reporting a profit of $4.1 million in the first quarter, compared with loss of $96.9 million a year ago.

Lumber Liquidators, which sells hardwood flooring, tumbled 14.1 percent after it said chief executive Robert Lynch had resigned unexpectedly. The company has been under scrutiny following a March report by CBS television news show "60 Minutes" that said products contained dangerous levels of formaldehyde, a known carcinogen.

Bond prices rose. The yield on the 10-year US Treasury dropped to 2.22 percent from 2.29 percent Wednesday, while the 30-year fell to 3.02 percent from 3.08 percent. Bond prices and yields move inversely.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us stocks edge lower cvs buys omnicare Arab Today, arab today us stocks edge lower cvs buys omnicare

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today As Olympics loom,China plunges into biz

GMT 10:08 2017 Tuesday ,28 February

As Olympics loom,China plunges into biz
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Kalam Nawaem made a difference in social issues

GMT 06:43 2017 Tuesday ,28 February

Kalam Nawaem made a difference in social issues
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Humans spark most US wildfires

GMT 14:58 2017 Tuesday ,28 February

Humans spark most US wildfires
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Final Phantom VII signals end of an era

GMT 14:31 2017 Tuesday ,28 February

Final Phantom VII signals end of an era
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Aspires present the story of Egypt’s first president

GMT 06:18 2017 Sunday ,26 February

Aspires present the story of Egypt’s first president
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:28 2017 Tuesday ,28 February

Dumbphones survive rise of the smartphone

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday