CVS Caremark (NYSE:CVS) In Advance Talks to Acquire Onofre in $313 Million Pact – CVS, WMT, WAG, CONN, HTZ, CVC, CMCSA, EBAY, SPLS

The Valor Economico newspaper reported on Friday that CVS Caremark Corporation (NYSE:CVS) is in advanced discussion to purchase Brazil’s drugstore chain Onofre to mark its entry into the country.

United States based CVS will pay 650 million Brazilian reais or $313 million to purchase a 80% stake in Onofre and will also assume the corporation’s debt, as reported by the newspaper but newspaper did not mentioned the source with knowledge about the matter.

CVS Caremark and Onofre officials were not immediately reached for remark.

Onofre is the eighth biggest drugstore chain in Brazil in terms of revenues. It reported gross revenue of BR1.2 billion in previous year.

Its competitors include Wal-Mart Stores, Inc. (NYSE:WMT) that surged +0.94% to $72.26 with the total traded volume of 1.89 million shares and Walgreen Company (NYSE:WAG) that dropped -0.03% to $35.84 with the total traded volume of 1.26 million shares.

Other Services stocks with bullish trend include CONN’S, Inc. (NASDAQ:CONN) up 2.81% to $28.17, Hertz Global Holdings, Inc. (NYSE:HTZ) up 0.75% to $16.13 and Cablevision Systems Corporation (NYSE:CVC) up 1.20% to $14.33, whereas with bearish trend include Comcast Corporation (NASDAQ:CMCSA) down -0.49% to $36.96, eBay Inc (NASDAQ:EBAY) down -0.37% to $51.83 and Staples, Inc. (NASDAQ:SPLS) down -0.48% to $11.41.

CVS Caremark Corporation (NYSE:CVS) stock’s trade at beginning with a price of $46.74 and the current trading session climbed at a high of $46.80 other than the stock finally advanced 0.06% to $46.74.

Shares price of CVS moved down from its 20 days moving average with +1.90% and remote positively from 50 days moving average with +0.13%. CVS current year earnings per share experienced an addition with 4.23% while its current quarter performance remained +2.95%.

CVS has a trade volume of 1.10 million shares is lesser as compared to average trading capacity of 6.70 million shares.

CVS last month stock price volatility remained 1.30%. In its share capital CVS has 1.25 billion outstanding shares among them 1.24 billion shares have been floated in market exchange. CVS stock institutional ownership remained 87.32%.

The stock is ahead its 52 week low with +30.03% and lagging behind from its 52 week high price with -4.79%. Company’s beta coefficient included 0.74. Beta factors measures the amount of market risk associated with market trade.

DO NOT TRADE ANY STOCK WITHOUT LEVEL 2 STOCK QUOTES! delivers it's user with the most in-depth Level 2 Quotation System available on the Planet! NO Downloads, NO Widgets, NO Plugins required! Stay on TOP of your trades with! CLICK HERE TO START YOUR FREE 30-DAY TRIAL

This entry was posted in Latest Headlines, Services and tagged , , , , , , , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.