On Monday, Shares of ICICI Bank Ltd. (NYSE:IBN), lost -1.43% to $9.66, as financial stocks ended moderately lower Monday, with the NYSE Financial Sector Index dropping 0.6% and the S&P Financial 100 Index falling 0.4%.
ICICI Bank Limited, together with its auxiliaries, provides banking and financial services in India and internationally. The company operates through Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, General Insurance, and Others segments.
Shares of Target Corp. (NYSE:TGT), inclined 1.23% to $80.45, during its last trading session.
CVS Health Corporation (CVS) and Target Corporation (TGT) declared that they have reached a definitive agreement for CVS Health to acquire Target’s pharmacy and clinic businesses for about $1.9 billion. Through this agreement, CVS Health will acquire Target’s more than 1,660 pharmacies across 47 states and operate them through a store-within-a-store format, branded as CVS/pharmacy. In addition, a CVS/pharmacy will be comprised of in all new Target stores that offer pharmacy services. Target’s nearly 80 clinic locations will be rebranded as MinuteClinic, and CVS Health will open up to 20 new clinics in Target stores within three years of the close of the transaction. The new clinics will be part of CVS/minuteclinic’s plan to operate 1,500 clinics by 2017. In addition, CVS Health and Target plan to develop five to 10 small, flexible format stores over a two-year period following the deal close, which will each be branded as TargetExpress and comprise a CVS/pharmacy.
This planned relationship brings together two leading retailers with complementary strengths, brands and cultures to enhance the health care experience for Target guests while expanding CVS Health’s retail presence in new markets, such as Seattle, Denver, Portland and Salt Lake City. The transaction enables CVS Health to reach more patients, adding a new retail channel for its offerings, and expanding convenient options for consumers. Given CVS Health’s proven success in growing its business, the relationship is predictable to benefit Target’s long-term traffic and sales growth. It also enables Target to strengthen its focus on wellness as a signature category. Moving forward, improved efforts by Target will center on ongoing to deliver products and experiences to assist guests eat well, be active and find natural and clean label products.
Target Corporation operates as a general merchandise retailer in the United States and Canada. It offers household essentials, counting pharmacy, beauty, personal care, baby care, cleaning, and paper products; music, movies, books, computer software, sporting goods, and toys; electronics, such as video game hardware and software; and apparel for women, men, boys, girls, toddlers, infants, and newborns, in addition to intimate apparel, jewelry, accessories, and shoes.
Finally, International Business Machines Corporation (NYSE:IBM), ended its last trade with -0.44% loss, and closed at $166.26.
Ongoing to strengthen its global cloud presence in the European market, International Business Machines Corporation, has opened its first cloud data center in Italy. Located in Cornaredo, a municipality in the Province of Milan, the new facility provides the fast-growing Italian cloud market with a local IBM Cloud presence, allowing customers to deploy their workloads in the country and benefit from a low-latency connection into IBM Cloud’s global platform, which securely integrates data and applications for clients around the world.
The new IBM Cloud center, powered by SoftLayer infrastructure, allows customers and partners adopting cloud computing to more easily manage, run, and store data and workloads Italy, key for many local clients in regulated industries. Global customers can also use the new facility to reach local end users, create data redundancy, and achieve geographic diversity.
The Milan location supports an emerging cloud-computing market in Italy, which, according to The Polytechnic University of Milan’s Observatory of Cloud and ICT as a Service, saw 31 percent year-over-year growth in 2014, with a total market spend of more than EUR 1.18 billion (US$1.33 billion).
International Business Machines Corporation provides information technology (IT) products and services worldwide. The company’s Global Technology Services segment provides IT infrastructure and business process services, such as outsourcing, processing, integrated technology, cloud, and technology support.
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