Advertisement
Canada markets closed

  • S&P/TSX

    22,308.93
    -66.90 (-0.30%)
     

  • S&P 500

    5,222.68
    +8.60 (+0.16%)
     

  • DOW

    39,512.84
    +125.08 (+0.32%)
     

  • CAD/USD

    0.7317
    +0.0006 (+0.08%)
     

  • CRUDE OIL

    78.20
    -1.06 (-1.34%)
     

  • Bitcoin CAD

    83,286.75
    -2,610.52 (-3.04%)
     

  • CMC Crypto 200

    1,262.02
    -95.99 (-7.07%)
     

  • GOLD FUTURES

    2,366.90
    +26.60 (+1.14%)
     

  • RUSSELL 2000

    2,059.78
    -13.85 (-0.67%)
     

  • 10-Yr Bond

    4.5040
    +0.0550 (+1.24%)
     

  • NASDAQ

    16,340.87
    -5.40 (-0.03%)
     

  • VOLATILITY

    12.55
    -0.14 (-1.10%)
     

  • FTSE

    8,433.76
    +52.41 (+0.63%)
     

  • NIKKEI 225

    38,229.11
    +155.13 (+0.41%)
     

  • CAD/EUR

    0.6789
    +0.0011 (+0.16%)
     
MARKETS LIVE BLOG:

STOCKS CLIMB AS DOW POSTS 8TH STRAIGHT WIN

Fed's Michelle Bowman echoes higher-for-longer mantra for interest rates

Today’s Research Reports on Stocks to Watch: Fred’s and United Rentals

ACCESSWIRE

NEW YORK, NY / ACCESSWIRE / September 11,2018 / Shares of Fred’s Inc, and United Rentals were two stocks flying higher on Monday on separate positive developments. Fred’s Inc. saw big gains after announcing a definitive asset purchase agreement with giant Walgreens and United Rentals jumped north after announcing that it would buy BlueLine Rental for $2.1 billion in an all cash transaction.

RDI Initiates Coverage on:

Fred's, Inc.
https://www.rdinvesting.com/report/?ticker=FRED

United Rentals, Inc.
https://www.rdinvesting.com/report/?ticker=URI

Fred's, Inc. was one of the biggest gainers in the stock market yesterday, closing the day up with a gain of 81.65% on staggering volume compared to usual. The company saw its shares explode after it announced that it has entered into a definitive asset purchase agreement, pursuant to which Walgreens will acquire pharmacy patient prescription files and related pharmacy inventory of 185 Fred’s stores located across 10 Southeastern states. Fred's Inc. operates approximately 600 general merchandise and pharmacy stores, including 12 franchised locations. Walgreens will be paying a total of $165 million for the patient information of Fred’s customers, plus an amount equal to the value of related pharmacy inventory. "This agreement increases patient access to Walgreens pharmacies in the Southeastern U.S., and allows us to introduce more people to Walgreens trusted pharmacy services in these communities. We look forward to welcoming Fred’s patients and team members who are hired into available Walgreens positions,” said Richard Ashworth, Walgreens President of Operations. Interim CEO and CFO of Fred's, Joe Anto, remarked, "With this agreement, we have taken a major step towards achieving one of our main goals of eliminating our debt balance. We look forward to partnering with Walgreens to transition our pharmacy patients in these locations as smoothly as possible."

ADVERTISEMENT

Access RDI’s Fred's, Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=FRED

United Rentals, Inc. shares closed up a little over 5% on Monday with around 1.9 million shares traded. The stock leaped upwards after the equipment rental company announced that it will be buying BlueLine Rental for $2.1 billion in cash. The company also said it plans to pause its current share repurchase program after the deal closes. The deal is expected in the fourth quarter of 2018. United rental plans to fund the deal by issuing new debt and bank borrowings. BlueLine is a top-ten equipment rental company in North America, with 114 locations and 1,700 employees in 25 states, Canada and Puerto Rico, and had $786 million in revenue for the trailing 12 months. Michael Kneeland, the chief executive officer of United Rentals, said, “The acquisition of BlueLine meets all of our criteria for long-term, profitable growth at attractive returns. We’re executing our strategy of ‘growing the core’ in a strong demand environment to drive superior value for our customers and shareholders. Our company will be going to market with more talent, capacity and customer diversification than ever before.” He added, “There are some distinct advantages to the BlueLine integration, such as our common technology systems and strong safety cultures. BlueLine has a fleet mix that complements our own, and a well-diversified base of mid-sized and local customers, many of whom can use our specialty solutions. We expect to complete the acquisition in the fourth quarter, setting the stage for an exciting 2019. I look forward to welcoming our new colleagues very soon.”

Access RDI’s United Rentals, Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=URI

Our Actionable Research on Fred's, Inc. (NASDAQ: FRED) and United Rentals, Inc. (NYSE: URI) can be downloaded free of charge at Research Driven Investing.

Research Driven Investing

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

CONTACT

For any questions, inquiries, or comments reach out to us directly at:

Address:

Email:

contact@rdinvesting.com

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: RDInvesting.com

https://www.accesswire.com/511708/Todays-Research-Reports-on-Stocks-to-Watch-Freds-and-United-Rentals