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Richemont Posts Strong Double-Digit Revenue, Profit Gains in 2022

Click here to read the full article. LONDON – Compagnie Financière Richemont saw double-digit gains across the business driven by retail sales and strong demand in the Americas region, resulting in a 44 percent surge in revenue to 19.18 billion euros and operating profit that more than doubled to 3.39 billion euros in the fiscal full year. Profit after tax rose 61 percent to 2.08 billion euros, while the company’s net cash position was 5.25 billion euros.More from WWDPhotos from Farfetch's Spring 2022 CampaignA Look Back at Alber Elbaz in Pictures31 Quirky Home Decor Items to Elevate WFH Richemont did not update...
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Covetrus $21/share takeover offer appears to be relatively modest - analyst

A $21/share offer for Covetrus Inc. (NASDAQ:CVET) from Clayton, Dubilier & Rice appears to be a "relatively modest" price, according to Stifel. Covetrus rose 11%. The $21 offer implies a purchase price of 14x 2022E EBITDA or 10-11x for the underlying distributor business if its assigned a 19-21x EBITDA multiple for the "faster" growing (20%+) and scaling Prescription Management and (Software) businesses, Stifel analyst Jonathan Block, who has a buy rating and $22 price target on CVET, wrote. CD&R already owns ~24% of Covetrus shares outstanding.
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Kronos Bio gains as CEO buys over $2 million worth of shares

Cancer-focused clinical-stage biotech Kronos Bio (NASDAQ:KRON) is trading higher in the pre-market Friday after its President & Chief Executive Officer Norbert Bischofberger disclosed the purchase of about $2.3 million worth of company shares. Bischofberger made the purchase in three separate transactions this week, according to an SEC filing submitted on...
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