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Summary
- Sanofi will buy mRNA therapeutics company Translate Bio in a US$3.2 billion deal.
- Under Armour projects its 2021 revenue to grow at a low twenties percentage rate.
- Ralph Lauren now anticipates its fiscal 2022 revenues to increase up to 30 percent.
Translate Bio (NASDAQ:TBIO) stock popped over 29 percent on Tuesday after Sanofi S.A announced a US$3.2 billion deal to acquire the company. Meanwhile, Under Armour, Inc. (NYSE:UA) and Ralph Lauren Corp. (NYSE:RL) stocks rallied as the companies improved their outlook for fiscal 2021 following the strong June quarter results.
Sanofi to buy Translate Bio in US$3.2B deal
mRNA therapeutics company Translate Bio said Aug. 3 French pharmaceutical giant Sanofi agreed to buy the company in a US$3.2 billion deal.
Sanofi will pay US$38 per share in cash to fully acquire Translate Bio. The boards of both companies have approved the transaction, which is expected to be completed in the third quarter of 2021.
The companies have been collaborating since 2018 to develop mRNA vaccines. The two mRNA vaccines in clinical trials include the COVID-19 vaccine and the seasonal influenza vaccine.
Translate Bio has a market cap of US$2.83 billion. The stock price has doubled this year and traded between US$11.91 and US$37.66 in the 52-week period.
As of 12:31 pm ET, Translate Bio’s shares were trading at US$37.61, up 29.02 percent.
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Under Armour raises 2021 outlook
The athletic apparel retailer now projects its 2021 revenue to grow at a low twenties percentage rate. Diluted EPS is forecasted between 14 cents and 16 cents, and adjusted EPS is estimated to come in the range of 50 cents to 52 cents.
Previously, the company expected full-year revenue to increase in high-teens percentage rate while loss per share was anticipated in between 2 cents and 4 cents. Adjusted EPS was forecasted between 28 cents and 30 cents.
In the first second quarter, the Maryland-based company saw its revenue climb 91 percent year over year to US$1.4 billion. Apparel revenue jumped 105 percent to US$874 million and footwear revenue surged 85 percent to US$343 million.
Diluted EPS during the three months totaled 13 cents, compared with a loss per share of 40 cents in the year-ago quarter.
Under Armour’s market cap totals US$9.48 billion and a P/E ratio of 93.41. Its stock returned 28 percent and traded between US$8.71 and US$21.83 in the last one year.
As of 12:30 pm ET, Under Armour shares were trading at US$22.67, up 7.39 percent.
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Ralph Lauren lifts fiscal 2021 revenue guidance
The New York-based company now projects fiscal 2022 revenues to grow between 25 percent and 30 percent on a constant currency basis, up from the previous forecast range of 20 percent to 25 percent growth.
In its fiscal first quarter ended June 26, Ralph Lauren posted a 182 percent year-over-year growth in its revenues of US$1.4 billion as sales from North American segment jumped 301 percent.
Ralph Lauren reported diluted EPS of US$2.18 and adjusted EPS of US$2.29. This compares with the loss per share of US$1.75 and the adjusted loss of US$1.82 per share in the first quarter of fiscal 2021.
Meanwhile, the clothing company projects its fiscal second-quarter revenues to grow up to 22 percent on a constant currency basis.
Ralph Lauren has a market cap of US$9.30 billion. Its stock rose over 21 percent year to date. The shares traded in the range of US$63.90 to US$142.06 during the last 52 weeks.
As of 12:31 pm ET, Ralph Lauren’s stock was trading at US$127.86, up 8.36 percent.
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Please note: The above constitutes a preliminary view, and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.
The reference data in this article has been partly sourced from Refinitiv.
