On Monday, Shares of Yahoo! Inc (NASDAQ:YHOO), lost -0.40% to $36.10.
Starboard Value, the activist investing fund led by Jeff Smith, nearly halved its holdings in Yahoo! Inc. and added a sizeable stake in another activist-targeted company, Boulder Brands Inc. bloomberg
Yahoo! Inc declared a plan to do so in January, and in July officially filed, saying it anticipates the deal to be accomplished in the fourth quarter, even as concerns linger over how it may be addressed by the U.S. Internal Revenue Service.
The total number of shares changed hands during the day was 7.9 million. After opening at $36.24, the stock hit as high as $36.24. However, it traded between $33.85 and $52.62over the last twelve months
Yahoo! Inc. provides search and display advertising services on Yahoo properties and associate sites worldwide. The company offers Yahoo Search that serves as a starting point to navigate the Internet and discover information; and Yahoo Answers, which enables users to seek, discover, and share knowledge and opinions across mobile phones, tablets, and desktops.
Shares of SYSCO Corporation (NYSE:SYY), declined -0.56% to $41.15, during its last trading session.
Sysco, based in Houston, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry.
The firm adjusted the price target as Sysco improved its profitability, raised debt leverage for share buyback and had better administration.
The company has declared it will add $2 billion in debt to partially fund a $3 billion buyback in the next two years, according to the analyst note.
However, “given sluggish earnings trends and a tepid food service backdrop, we remain ‘hold’ rated,” Jefferies analysts said.
Sysco Corporation, through its auxiliaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates in Broadline and SYGMA segments. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats; dairy products; beverage products; imported specialties; and fresh produce.
Finally, Global Blood Therapeutics, Inc. (NASDAQ:GBT), ended its last trade with 17.12% gain, and closed at $53.49.
Global Blood Therapeutics, declared the closing of its initial public offering of 6,900,000 shares of common stock at an initial public offering price of $20.00 per share, which comprises the exercise in full by the underwriters of their option to purchase up to 900,000 additional shares of common stock. All of the shares in the offering were offered by GBT. The company’s common stock is listed on the NASDAQ Global Select Market under the ticker symbol “GBT.” Global Blood Therapeutics estimates net proceeds from the offering to be about $126.1 million, after deducting underwriting discounts and commissions and estimated offering expenses.
Morgan Stanley and Goldman, Sachs & Co. acted as joint book-running managers for the offering. Cowen and Company and Wedbush PacGrow acted as co-managers.
Global Blood Therapeutics, Inc., a biopharmaceutical company, engages in the discovery, development, and commercialization of novel therapeutics to treat grievous blood-based disorders. Its product candidate is GBT440, a hemoglobin modifier that binds to hemoglobin molecules, which is in double-blind Phase I/II clinical trial indicated for the treatment of sickle cell disease.
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