Kiev Dismisses Russia's Claim Of Killing 600 Ukrainian Soldiers

Oak Street Health Climbs On Reports Of Acquisition Plan By CVS Health

Oak Street Health, Inc. (OSH) shares are gaining more than 28 percent on Tuesday morning trade on reports that CVS Health Corp is exploring the acquisition of Oak Street. The company has not responded to the Bloomberg report on Monday.

Currently, shares are trading at $28.47, up 26.14 percent from the previous close of $22.57 on a volume of 3,784,410.

Frontline Stock Jumps 20% After Terminating Merger Deal With Euronav

Shares of Frontline plc. (FRO) jumped nearly 20% on Tuesday morning after the oil tanker shipping firm terminated its merger deal with Belgian oil transporter Euronav.

FRO is currently trading at $13.56, up $2.23 or 19.64%, on the NYSE. The stock opened its trading at $11.33 after closing previous day at $11.33. The stock has traded between $6.10 and $14.85 in the past 52-week period.

Frontline said it will not make a voluntary conditional exchange offer for all outstanding Euronav shares. Frontline will also no longer seek a listing on Euronext Brussels.

In July 2022, Frontline had signed a merger deal with Euronav. The stock-for-stock combination was based on an exchange ratio of 1.45 Frontline-shares for every 1.0 Euronav-share, to create an independent listed oil tanker operator. Based on the Frontline share price $8.34 as of July 8, the proposed exchange rate represented a share value of $12.09 per Euronav share.

Frontline had said the merger would form a company with a market capitalization of over $4 billion and would be listed on Euronext Brussels, OSE, and NYSE upon Tender Offer completion.

Albertsons Q3 Profit Tops Estimates

Food and drug retailer Albertsons Companies, Inc. (ACI) reported third quarter adjusted net income of $505.1 million, or $0.87 per share, compared to $457.2 million, or $0.79 per share, last year. On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.67, for the quarter. Analysts’ estimates typically exclude special items. Excluding the impact of fuel and LIFO expense, gross margin rate decreased 47 basis points from a year ago.

Net income was $375.5 million, or $0.20 per share, compared to $424.5 million, or $0.74 per share, prior year.

Net sales and other revenue was $18.2 billion compared to $16.7 billion, a year ago. The company said the increase was driven by 7.9% increase in identical sales and higher fuel sales, with retail price inflation as the primary driver of the identical sales increase. Analysts on average had estimated $17.64 billion in revenue.

Vivek Sankaran, CEO, said: “Our investments in digital transformation, differentiation in Own Brands and Fresh offerings, and the modernization of our operational capabilities contributed to these results.”

Albertsons also announced its Board has declared a cash dividend for the fourth quarter of fiscal 2022 of $0.12 per share of common stock. The cash dividend is payable on February 10, 2023 to stockholders of record as of the close of business on January 26, 2023.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

ICON Plc Issues 2023 Guidance; Reaffirms 2022 Guidance

ICON plc (ICLR) said, for 2023, the company expects revenue to be in the range of $7.94 billion – $8.34 billion, a growth of 3.3% – 6.8% from previous year. The company expects adjusted earnings per share to be in the range of $12.40 – $13.05, representing growth of 6.4% – 10.1%.

With respect to 2022, the company reaffirmed its guidance of revenue in the range of $7.69 billion – $7.81 billion and adjusted earnings per share in the range of $11.65 – $11.85.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

Rayonier Advanced Materials Slides 26%

Rayonier Advanced Materials Inc. (RYAM) shares are declining more than 26 percent on Tuesday morning trade after reports of downgrades by RBC Capital to ‘Sector perform.’

Currently, shares are at $6.75, down 26.31 percent from the previous close of $9.16 on a volume of 1,210,244.

Omega Healthcare Downtrend Continues

Omega Healthcare Investors, Inc. (OHI) shares are sliding more than 6 percent on Tuesday morning trade, continuing a bearish trend since Friday. The shares have reached a year-to-date high on January 5 and have been on a decline.

Currently, shares are at $26.45, down 6.40 percent from the previous close of $28.27 on a volume of 3,280,660.

Kiev Dismisses Russia's Claim Of Killing 600 Ukrainian Soldiers

Ukraine dismissed Russian claim of mass murder of its troops in a weekend attack in the eastern city of Kramatorsk.

The Russian Ministry of Defense said on Sunday that 600 Ukrainian soldiers were killedin a wave of rocket attacks they carried out after a 36-hour Russian-proposed ceasefire ended overnight Saturday.

Multiple media outlets reported that their reporters on the ground could not find any indications to this effect.

But on Monday, the Kremlin insisted on Russian Ministry of Defense statements. Senior Ukrainian military commander Col. Gen. Oleksandr Syrskyi said “the enemy suffered significant losses and once again retreated” as a result of counterattack by Ukrainian forces in the embattled eastern regions of Bakhmut and Soledar in Donetsk.

President Volodymyr Zelensky called them one of the bloodiest places on the front line.

Ukraine’s Kharkiv region came under missile attacks and shelling on Monday. Meanwhile, the Belarusian Defense Ministry announced 17-day Russia-Belarus joint air force exercises in Belarus from January 16.

As a result of a prisoner swap Sunday by Russia and Ukraine, 100 soldiers from both sides reportedly returned to their nations.