قالب وردپرس درنا توس
Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Lyft Goes Public – The Motley Fool

Lyft Goes Public – The Motley Fool



Stocks ended their best quarter in almost a decade on a positive note Friday after a key measure of inflation came in below expectations. The Dow Jones Industrial Average (DJINDICES: ^ DJI) has risen 10.9% in 2019 and the S & P 500 (19459006) is up 12.9%. 196.9009] 18.96 Index Data source: Yahoo! Finance

As for individual stocks, Lyft (NASDAQ: LYFT) Bristol-Myers Squibb ] (NYSE: BMY) and Celgene (NASDAQ: CELG) Image courtesy of Getty Images.

Lyft gets off to a strong start

Shares of riding specialist Lyft started trading today in one of the year's most anticipated initial public offerings. The stock rose 8.7% over the $ 72 offering to end the session at $ 78.29.

Lyft offered 32,500,000 shares of common stock, plus an option to the underwriters for an additional 4,875,000 shares, and raised over $ 2.4 billion for the company.

Lyft took in $ 2.1

6 billion in revenue in 2018, more than twice as much as in the year before, but lost $ 911 million, or $ 3.83 per pro forma share. Active riders in Q4 2018 rose 48% to 18.6 million and revenue per rider grew 32% to $ 36.04.

The market is excited about Lyft's rapid growth. The company seems to be on a path to profitability, but investors are left to wonder whether Lyft has a competitive advantage over Uber, whose own IPO could be coming soon, and whether the fundamentals support such a hefty valuation.

Celgene's merger with Bristol-Myers Squibb just got more certain

Bristol-Myers Squibb has just gotten more certain

The successful completion of the merger between Bristol-Myers Squibb and Celgene is more likely after independent proxy advisory firms. recommended that shareholders vote in favor of the deal. Shares of Celgene rose 7.9% to $ 94.34 on news and those of Bristol-Myers fell 0.3% to $ 47.71

Bristol-Myers and Celgene made headlines in the first week of 2019 when they announced the cash-and-share transaction worth $ 74 billion. The offer is $ 50 in cash and one share of Bristol-Myers for each Celgene share, as well as a contingent value right of $ 9 if three therapies in development are approved by set deadlines

The deal was opposed by activist fund Starboard Value, and doubt whether shareholders would approve the merger had resulted in Celgene's stock sale at a reasonable discount to the offering price. Starboard withdrew its opposition in a press release today

Even with the proxy service recommendations, the merger is not completely certain yet. Earlier this week, the companies disclosed that the US The Federal Trade Commission is reviewing their pipelines and marketed products for psoriasis. But given that Celgene is now trading within 4% of the offer price, the market finally seems to be convinced that the deal will go through


Source link