|
Wall Street pointed to another sell-off as S&P 500 remains close to bear territory.
|
|
Stocks jumped Monday as the market tried to recover some of the losses from a relentless sell-off that has gripped Wall Street.
|
|
 All three major stock benchmarks ended sharply higher Monday, kicking off the week with gains as shares in the financials sector jumped. The Dow Jones Industrial Average closed up almost 619 points, or about 2%, while the S&P 500 climbed around 1.9% and the Nasdaq Composite rose about 1.6%, according to preliminary FactSet data. The financials sector booked the biggest gains in the S&P 500 index, rising around 3.2% Monday, as Wall Street banks JPMorgan Chase & Co. and Citigroup Inc. each jumped around 6%, preliminary FactSet data show.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
|
|
Bausch Lomb, a well-known leader in eye care, is about to hit Wall Street in what investment bankers almost certainly hope will jump-start a weak initial public offering (IPO) market.
Bausch Health Companies (BHC) is a global healthcare stock that develops pharmaceuticals, medical devices and over-the-counter medications, with focus areas in eye health, gastroenterology and dermatology.
SEE MORE 7 Best Biotech Stocks to Build Your Portfolio
However, to help streamline its operations and pay down debt, Bausch is spinning off its Bausch Lomb eye care division in what is shaping up to be one of 2022's most anticipated IPOs.
Bausch Lomb sells contact lenses, eye drops and even implantable lenses for cataract surgery in more than 100 countries. The division boasts more than 400 products, more than 260 of which came on the market since 2017.
You can thank Bausch Lomb's robust R&D arm, which has about 850 employees. The current product pipeline includes more than 100 projects, such as treatments for dry eye, contact lenses to slow myopia, and next-gen cataract equipment.
The focus on innovation has helped to grow the top line. For 2021, division revenues jumped by 10.6% to $3.8 billion - part of BHC's overall revenues of $8.4 billion, up 5% - and the company flipped from a loss of $17 million to a net gain of $193 million.
"While it faces significant competition from other brands and generic products, the company is highly profitable with strong cash flow
|
|
