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AstraZeneca PLC (NYSE:AZN): The stock is trading up despite the news of layoffs by the company. AstraZeneca announced that it would be slashing its global headcount by 2,300 as part of its restructuring efforts. The company had earlier reported cutting 1,600 research & development positions.
The new plan for layoffs is likely to result in $2.3 billion elimination charges. At the very same time, the company will be saving $800 million annually by 2016. AstraZeneca stock is currently trading at $47.17, up 2.14 percent from its previous close of $46.18. The stock had opened at $47.28 and has traded in the range of $47.11 and $47.28 in the current trading session. It has traded 685k shares as of now. The company’s dividend yield stands at 8.20 percent. AstraZeneca commands market capitalization of $58.83 billion and its Price Earnings ratio is 9.47.
The Coca Cola Company (NYSE:KO): The company announced a new round of layoffs as it reported that it would cut 750 US jobs. The cut amounts to 1 percent of its North American workforce. The stock is trading 0.01 percent higher, at $39.88. The company has traded 1.178 million shares in the current trading sessions so far and its stock has traded in the range of $35.47 and $40.67 in the past 52 weeks. The company stock’s beta is 0.38, while its P/E ratio stands at 20.24. It had reported its latest Earnings per Share at $1.97. Coca Cola will be making the cuts across the board and 25 percent of the layoffs will be made at the company’s Atlanta plant. Coca Cola also plans to consolidate its seven business geographies into three separate categories. The company had purchase the North America business of its largest bottler in 2010.
The Cato Corporation (NYSE:CATO): The stock is trading at $24.33, 5.40 percent lower than its previous close. It has traded in the range of $24.33 and $25.49 in the current trading session, marking its new52 weeks low. Cato Corporation is trading low after announcing its disappointing quarterly results. The company reported 22 percent decline in its net income for the fourth quarter of the year. Cato Corporation earned 27 cents per share, down from 35 cents per share it had earned for the corresponding quarter of the last year. Its revenue increased 5 percent to $234.6 million. For its full year, the company’s revenue increased 1 percent to $944 million, while its net income declined to $61.7 million. Cato Corporation has traded 39k shares so far, in comparison to its daily average trading volume of 160k shares. The stock has traded in the range of $24.13 and $32.32 in the past 52 weeks. The company stock trades at Price Earnings ratio of 11.25 and its beta is at 0.8.
Scholastic Corporation (NASDAQ:SCHL): The stock tumbled after announcement of its quarterly results. Its stock traded in the range of $26.60 and $28.25 in the current trading session and at this point is at $27.02, down 13.04 percent. Scholastic Corporation reported its third quarter loss at $20.1 million, up from $10.3 million loss it had suffered for the corresponding quarter of the last year. On per share basis, its adjusted net loss stood at 57 cents per share. Scholastic Corporation also slashed its guidance for the year from $1.40 and $1.60 per share in net income to $1.10 and $1.30 per share. The stock’s highest price point of 52 weeks stands at $38.49 while its lowest price point is at $25.03. Scholastic Corporation stock is trading at Price Earnings ratio of 11.51 and its beta is 0.67. The company’s dividend yield stands at 1.60 percent.
Movado Group Inc. (NYSE:MOV): The company reported 26 percent decline its net income for the fourth quarter of the year. Movado Group announced its fourth quarter earnings at $7.9 million, down from $10.7 million it had earned for the fourth quarter of the previous year. Its revenue for the quarter increased 1 percent to $123.6 million. The stock is currently trading at $35.78, down 3.61 percent. It is trading in the range of $35.10 and $38.20 in the current trading session. In the past 52 weeks, the stock’s price range has been $21.45 and $39.12. The stock’s beta is 1.69 and its Price Earnings ratio is 15.29. Movado Group commands market capitalization of $906.56 million.
