On Thursday, Bed Bath & Beyond Inc. (NASDAQ:BBBY)’s shares declined -1.36% to $63.19.
Bed Bath & Beyond Inc. (BBBY) stated financial results for the first quarter of fiscal 2015 ended May 30, 2015.
Fiscal 2015 First Quarter Results
For the first quarter of fiscal 2015, the Company stated net earnings of $.93 per diluted share ($158.5 million) contrast with net earnings for the first quarter of fiscal 2014 of $.93 per diluted share ($187.1 million). Net sales for the first quarter of fiscal 2015 were about $2.738 billion, an enhance of about 3.1% from net sales of about $2.657 billion stated in the first quarter of fiscal 2014. Comparable sales in the first quarter of fiscal 2015 raised by about 2.2%, contrast with an enhance of about 0.4% in last year’s fiscal first quarter. Comparable sales for the first quarter of fiscal 2015 comprise an approximate 0.3% unfavorable impact from the year over year change in the Canadian currency exchange rate.
Linen Holdings is excluded from the comparable sales calculations and will continue to be excluded on an ongoing basis because it represents non-retail activity.
Share Repurchase Program
During the first quarter of fiscal 2015, the Company repurchased about $385 million of its common stock, representing about 5.3 million shares. As of May 30, 2015, the remaining balance of the existing $2.0 billion share repurchase program was about $499 million.
Bed Bath & Beyond Inc., together with its auxiliaries, operates a chain of retail stores. It sells a range of domestics merchandise, counting bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletops, basic housewares, general home furnishings, consumables, and certain juvenile products.
Progressive Corp (NYSE:PGR)’s shares dropped -0.81% to $30.49.
Progressive Corp (PGR) may be an interesting play thanks to its forward PE of 14.53, its P/S ratio of 0.84, and its decent dividend yield of 2.44%. These factors suggest that Progressive Corp. is a pretty good value pick, as investors have to pay a relatively low level for each dollar of earnings, and that PGR has decent revenue metrics to back up its earnings.
But before you think that Progressive Corp. is just a pure value play, it is important to note that it has been seeing solid activity on the earnings estimate front as well. For current year earnings, the consensus has gone up by 3.8% in the past 30 days, thanks to 7 upward revisions in the past one month contrast to no downward revision.
This estimate strength is actually enough to push PGR to a Zacks Rank #2 (Buy), suggesting it is poised to outperform. So really, Progressive Corp. is looking great from a number of angles thanks to its PE below 20, a P/S ratio below one, and a strong Zacks Rank, meaning that this company could be a great choice for value investors at this time.
The Progressive Corporation, an insurance holding company, provides personal and commercial property-casualty insurance, and other specialty property-casualty insurance and related services primarily in the United States. The company’s property-casualty insurance products protect its customers against losses due to collision and physical damage to their motor vehicles, uninsured and underinsured bodily injury, and liability to others for personal injury or property damage arising out of the use of those vehicles.
At the end of Thursday’s trade, Ventas, Inc. (NYSE:VTR)‘s shares surged 0.84% to $66.99.
Ventas, Inc. (VTR) declared that its Board of Directors has approved the spin-off of most of its post-acute/skilled nursing facility (“SNF”) portfolio into an independent, publicly traded REIT called Care Capital Properties, Inc. (“CCP”).
Ventas has declared a dividend distribution of one share of CCP common stock for every four shares of Ventas common stock held at the close of business on August 10, 2015, the record date for the distribution. Ventas shareholders are not required to take any action to receive the shares of CCP common stock in the distribution, and they will not be required to surrender or exchange their Ventas shares. Importantly, the number of Ventas shares owned by each shareholder will not change as a result of the distribution.
Ventas anticipates to complete the distribution of CCP common stock to its shareholders after the close of trading on August 17, 2015. Following the distribution, CCP will be listed on the New York Stock Exchange under the symbol “CCP” and will own, acquire and lease primarily skilled nursing facilities across the United States. Ventas’s common stock will continue to trade on the New York Stock Exchange under the symbol “VTR.”
Ventas, Inc. is a publicly owned real estate investment trust. The firm engages in investment, administration, financing, and leasing of properties in the healthcare industry. It invests in the real estate markets of the United States and Canada. The firm primarily invests in healthcare-related facilities counting hospitals, skilled nursing facilities, senior housing facilities, medical office buildings, and other healthcare related facilities. Ventas, Inc. was founded in 1983 and is based in Chicago, Illinois with additional offices in Irvine, California; Louisville, Kentucky; Charlotte, North Carolina; and Dallas, Texas.
Novo Nordisk A/S (ADR) (NYSE:NVO), ended its Thursday’s trading session with -3.61% loss, and closed at $57.70.
Mr. Jakob Riis, Executive Vice President, China, Pacific & Marketing, Novo Nordisk A/S, is happy to declare the appointment of Mr. Brian Hilberdink to the role of President, Novo Nordisk Canada Inc.
Mr. Hilberdink is an accomplished executive with 20 years of global and domestic experience developing and executing Novo Nordisk’s commercial strategy. He formerly held the position of Vice President, Diabetes Marketing and Market Access, Novo Nordisk Canada. Preceding to this role, Brian was Corporate Vice President, Global Marketing, Novo Nordisk A/S, and led the commercialization of the company’s future insulin portfolio, from phase 2 clinical development until the first launches in Europe and Japan. He also has experience working in the U.S. where, as Director, Brand Administration, he led multiple brand teams during a period of noteworthygrowth for Novo Nordisk U.S.
Novo Nordisk A/S, a healthcare company, engages in the discovery, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Biopharmaceuticals. The Diabetes Care segment covers insulins, GLP-1 analog, obesity, and oral antidiabetic drugs, in addition to other protein related products comprising glucagon, protein related delivery systems, and needles. The Biopharmaceuticals segment offers products in the areas of haemophilia care, growth hormone therapy, and hormone replacement therapy. T
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