On Thursday, Shares of Rite Aid Corporation (NYSE:RAD), gained 3.70% to $8.96, after analysts at Credit Suisse reinstated their coverage of the drugstore chain.
The firm issued an “outperform” rating and a price target of $10 as the company has made good progress on its turnaround. Analysts expect further improvement as administration pushes forward with numerous traffic-focused initiatives.
The recent acquisition of EnvisionRX for $2 billion enhances the company’s outlook, according to the analyst note.
Rite Aid Corporation, through its auxiliaries, operates a chain of retail drugstores in the United States. The company sells prescription drugs and a range of other merchandise, counting over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other every day and convenience products.
Shares of Broadcom Corp. (NASDAQ:BRCM), declined -0.31% to $54.07, during its last trading session.
Broadcom Corp., declared a satellite set-top box (STB) solution that delivers a boost in performance, lower power and support for the new DVB-S2X broadcast standard.1 The new BCM45308 system-on-a-chip (SoC) device integrates Full Band Capture (FBC) technology to provide satellite operators with more efficient video and IP service distribution to subscribers’ connected devices throughout the home.
The Broadcom BCM453xx Series dramatically simplifies system design and cost by integrating dual FBC Analog Digital Converters (ADCs) and up to eight demodulators in a single chip. The inclusion of FBC technology and DVB-S2X demodulators allows operators to digitize the entire 250-2350 MHz spectrum and provide flexible bandwidth deployment and tuning function in the digital domain, which enables a drastic reduction of tuner area and power. Remote diagnostics capabilities offered by FBC technology saves operators costly on-site customer visits and pairs with FastRTV® technology to provide quick channel change regardless of frequency.
Broadcom Corporation provides semiconductor solutions for wired and wireless communications. Its products offer voice, video, data, and multimedia connectivity in the home, office, and mobile environments. The company operates in two segments: Broadband and Connectivity, and Infrastructure and Networking.
Finally, The Wendy’s Company (NASDAQ:WEN), ended its last trade with -0.44% loss, and closed at $11.23.
The Wendy’s Company, declared that its Board of Directors has authorized a new $1.4 billion share repurchase program. The Company also updated its 2015 and long-term outlook to reflect the anticipated impact of the repurchase program, its recently accomplished refinancing and the sale of its bakery operations.
“Our recent operating results, together with the shareholder-value enhancing initiatives and updated outlook declared recently demonstrate continued progress with our brand transformation,” President and Chief Executive Officer Emil Brolick said. “The growth reflected in our long-term outlook, especially our expectations for steadily increasing Adjusted EBITDA margins, demonstrates the higher quality of earnings we are generating as a result of our system optimization initiative, which remains on track for completion in 2016. The improved earnings stream comprises raised royalties and rental income from the 674 properties we own.”
The Wendy’s Company, through its auxiliaries, owns and franchises Wendy’s restaurant system. The company is involved in operating, developing, and franchising a system of quick-service restaurants. As of May 26, 2015, its restaurant system comprised of about 6,500 franchised and company-operated restaurants worldwide.
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