spin off
BANK OF MONTREAL, $132.29, Toronto symbol BMO, remains a buy.
This week, U.S. banking regulators approved the bank’s acquisition of California-based Bank of the West from France’s BNP Paribas.
Bank of the West provides a variety of retail and commercial banking services to over 1.8 million customers through 514 branches in 24 states, mainly in the Western and Midwestern regions of the U.S....
This week, U.S. banking regulators approved the bank’s acquisition of California-based Bank of the West from France’s BNP Paribas.
Bank of the West provides a variety of retail and commercial banking services to over 1.8 million customers through 514 branches in 24 states, mainly in the Western and Midwestern regions of the U.S....
ALKERMES PLC $28 is a hold. The company (Nasdaq symbol ALKS; Manufacturing sector; Shares outstanding: 164.3 million; Market cap: $4.6 billion; No dividend paid; Takeover Target Rating: Medium; www.alkermes.com) is a developer of pharmaceutical drugs and is based in Ireland....
Spinoffs are a great way for companies to sharpen their focus on the more-profitable segments of their businesses. Here are two recent examples we feel will pay off for investors over the next few years.
BAXTER INTERNATIONAL INC. $44 is a buy. The company (New York symbol BAX; Manufacturing sector; Shares o/s: 504.1 million; Market cap: $22.2 billion; Dividend yield: 2.6%; Takeover Target Rating: Medium; www.baxter.com) makes a variety of medical devices, including intravenous pumps and kidney-dialysis equipment.
Baxter now plans to spin off its Renal Care and Acute Therapies businesses as one separate company....
BAXTER INTERNATIONAL INC. $44 is a buy. The company (New York symbol BAX; Manufacturing sector; Shares o/s: 504.1 million; Market cap: $22.2 billion; Dividend yield: 2.6%; Takeover Target Rating: Medium; www.baxter.com) makes a variety of medical devices, including intravenous pumps and kidney-dialysis equipment.
Baxter now plans to spin off its Renal Care and Acute Therapies businesses as one separate company....
Conglomerate General Electric is moving ahead with its plan to break itself into three separate companies: Healthcare products (X-ray equipment, MRI and ultrasound scanners); renewable energy and power (turbines and equipment for wind farms); and Aviation equipment (jet engines).
Studies show that spinoffs tend to outperform comparable stocks for several years, and we expect the breakup plan will ultimately pay off for GE investors....
SUNCOR ENERGY INC. $44 is a buy. Canada’s largest integrated oil firm (Toronto symbol SU; Resources sector; Shares outstanding: 1.35 billion; Market cap: $59.4 billion; Dividend yield: 4.7%; Takeover Target Rating: Medium; www.suncor.com) recently opted to retain its chain of 1,875 Petro-Canada gas stations after conducting a strategic review....
We’ve selected Johnson & Johnson as your #1 Spinoff Buy for 2023.
The pharmaceutical giant is shifting its focus to its prescription drugs and medical device businesses. Under that plan, it will soon spin off its consumer products business as a separate, publicly traded firm called Kenvue.
While pharmaceuticals and medical devices are riskier to develop, they promise faster sales growth and higher returns.
Johnson & Johnson has gained 3% since it announced the split in November 2021, and should go higher as COVID-19’s strain on hospitals further eases....
The pharmaceutical giant is shifting its focus to its prescription drugs and medical device businesses. Under that plan, it will soon spin off its consumer products business as a separate, publicly traded firm called Kenvue.
While pharmaceuticals and medical devices are riskier to develop, they promise faster sales growth and higher returns.
Johnson & Johnson has gained 3% since it announced the split in November 2021, and should go higher as COVID-19’s strain on hospitals further eases....
BAXTER INTERNATIONAL INC., $44.84, New York symbol BAX, is a buy.
The company makes a wide range of medical devices, including intravenous pumps and kidney-dialysis equipment.
Baxter now plans to spin off its Renal Care and Acute Therapies businesses as a separate, publicly traded company.
In 2021, this new kidney care company had revenue of $4.86 billion, or 38% of Baxter’s total revenue of $12.78 billion.
The company has not yet announced the details of the transaction....
The company makes a wide range of medical devices, including intravenous pumps and kidney-dialysis equipment.
Baxter now plans to spin off its Renal Care and Acute Therapies businesses as a separate, publicly traded company.
In 2021, this new kidney care company had revenue of $4.86 billion, or 38% of Baxter’s total revenue of $12.78 billion.
The company has not yet announced the details of the transaction....
TECK RESOURCES LTD. $54 is a buy. The company (Toronto symbol TECK.B; Conservative Growth Portfolio, Resources sector; Shares outstanding: 512.3 million; Market cap: $27.7 billion; Price-to-sales ratio: 1.4; Dividend yield: 0.9%; TSINetwork Rating: Extra Risk; www.teck.com) explores for and develops various types of minerals, including copper, gold, zinc and metallurgical coal (used for making steel).
Teck recently agreed to sell its 21.3% stake in the Fort Hills oil sands project of northern Alberta to Suncor Energy Inc....
GENERAL ELECTRIC CO., $71.96, New York symbol GE, remains a hold.
The industrial conglomerate has completed the first step in its plan to break itself up into three separate companies.
This week, GE spun off its healthcare business as a new firm called GE HEALTHCARE TECHNOLOGIES INC., $58.95, Nasdaq symbol GEHC....
The industrial conglomerate has completed the first step in its plan to break itself up into three separate companies.
This week, GE spun off its healthcare business as a new firm called GE HEALTHCARE TECHNOLOGIES INC., $58.95, Nasdaq symbol GEHC....
Entertainment firms continue to rebound following easing COVID-19 restrictions and venue re-openings. These two companies now aim to further boost value with spinoffs. Still, neither stock currently inspires our confidence.
LIBERTY MEDIA GROUP operates a variety of communications and entertainment businesses through three tracking stocks: Liberty SiriusXM Group (Nasdaq symbols LSXMA, LSXMB, and LSXMK) operates satellite radio and online streaming services, as well as concert promoter Live Nation; Braves Group (Nasdaq symbols BATRA and BATRK) owns the Atlanta Braves professional baseball club; and Formula One Group (Nasdaq symbols FWONA and FWONK) owns the commercial rights to the famous motor racing series.
Note: Tracking stocks give investors financial exposure to a specific aspect of a larger company’s business, but usually come with limited or no voting power....
LIBERTY MEDIA GROUP operates a variety of communications and entertainment businesses through three tracking stocks: Liberty SiriusXM Group (Nasdaq symbols LSXMA, LSXMB, and LSXMK) operates satellite radio and online streaming services, as well as concert promoter Live Nation; Braves Group (Nasdaq symbols BATRA and BATRK) owns the Atlanta Braves professional baseball club; and Formula One Group (Nasdaq symbols FWONA and FWONK) owns the commercial rights to the famous motor racing series.
Note: Tracking stocks give investors financial exposure to a specific aspect of a larger company’s business, but usually come with limited or no voting power....