HomeNewsWeekly market recap: Here are the key moments from the past week.

Weekly market recap: Here are the key moments from the past week.

  • Crocs announces a $2.5 billion acquisition and Vista outdoor acquires Stone Glacier.
  • FDA finally approves Pfizer for its Covid Treatment Pill.
  • Victoria’s Secret announces a $250 million share repurchase program.   

Crocs is ready to acquire Hey Dude for $2.5 billion

Crocs Inc (NASDAQ:CROX) uses both cash and stock to acquire Hey Dude for $2.5 billion. The Shoe manufacturing company will be paying $2.05 billion cash and $450 million will be paid to Hey Dude’s CEO Alessandro Rosano in stock. All the closing conditions and regulatory approvals of the deal is expected to complete by Q1 of 2022.

US FDA approves Pfizer for it Covid pill

Pfizer (NYSE:PFE) gets approved by US Food and Drug Administration (FDA). It is the first pill of its kind to get an approval. It is an emergency pill used at home and Pfizer will be selling 4.25 million doses of Paxlovid to the United Kingdom. It has produced 80 million doses last year and has a goal to produce 4 billion doses in 2022.

Vista Outdoor’s 7th acquisition is Stone Glacier

Vista outdoor (NYSE:VSTO) announces its 7th acquisition in 16 months of acquiring premium hunting gear brand ‘Stone Glacier’. By this deal, the American Sports designer will expand the categories to camping equipment and technical apparel categories. Vista Outdoor is using cash and liquid assts to fund this deal.

Victoria’s Secret announces their $250 million buyback plan

After Victoria’s Secret & Co (NYSE:VSCO) announces their $250 million buyback plan, there was a sudden 3% rise in their shares. Its fiscal fourth-quarter outlook is also supported by the company which was issued in line. The company expects the fiscal Q4 earnings per share around $2.35 – $2.65.   

Verizon Communications and AT&T requested to delay 5G launch.

Verizon Communications (NYSE: VZ) and AT&T (NYSE: T) were requested to delay the 5G launch by the Federal Aviation Administration head and US Transportation Secretary Pete Buttigieg. The reason being aviation safety concerns, it has been delayed for not more than two weeks. It is a part of the proposal as a near-term solution do advancing the co-existence in the C-and safe flight operations.

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