Gold Edges Higher In Cautious Trade

Owens & Minor To Acquire Apria – Quick Facts

Owens & Minor, Inc. (OMI) and Apria, Inc. (APR) have entered an agreement, under which Owens & Minor will acquire Apria for $37.50 in cash per share of common stock, representing an equity value of approximately $1.45 billion, as well as the assumption of debt and cash for a total transaction value of approximately $1.6 billion.

Owens & Minor said the acquisition diversifies revenue base by expanding presence in the higher-growth home healthcare market. The company expects the deal to be accretive to revenue, adjusted EBITDA, adjusted earnings per share.

Apria, Inc. is a provider of integrated home healthcare equipment and related services in the United States.

Shares of Apria were up 24% in pre-market trade on Monday.

CGG Q4 Segment Revenue Up 12% – Quick Facts

CGG said it expects fourth quarter segment revenue at around $301 million, up 12% year-on-year proforma (excluding GeoSoftware). The company projects full year 2021 segment revenue at around $941 million.

CGG expects 2021 positive net cash flow around $15 million before $40 million refinancing cash costs. The company anticipates year-end 2021 net debt, before IFRS 16, to be around $865 million.

Group’s Liquidity at the end of December 2021 is projected to be around $320 million excluding $100 million undrawn RCF.

US Warns Iran Of ‘severe Consequences’ If It Attacks Americans

The United States has warned Iran of severe consequences if it attacks any American nationals, including the 51 people against whom Tehran imposed sanctions at the weekend.

The warning by National Security Advisor Jake Sullivan came in the wake of Iran targeting US officials over the killing of General Qassem Soleimani in a drone strike in 2020.

Those sanctioned by Iran’s foreign ministry include General Mark Milley and former White House National Security Adviser Robert O’Brien.

In a statement issued on Sunday, Sullivan said Iran’s proxy militias continue to attack American troops in the Middle East, and Iranian officials threaten to carry out terror operations inside the United States and elsewhere around the world.

“Make no mistake: the United States of America will protect and defend its citizens. This includes those serving the United States now and those who formerly served. As Americans, we have our disagreements on politics. We have our disagreements on Iran policy. But we are united in our resolve against threats and provocations. We are united in the defense of our people,” the statement added.

Washington vowed to work with its allies and partners to deter and respond to any attacks carried out by Iran.

“Should Iran attack any of our nationals, including any of the 51 people named yesterday, it will face severe consequences”, Sullivan said.

Alcon Announces Completion Of Ivantis Acquisition

Alcon Inc. (ALC), a global player in eye care, on Monday announced the closing of its previously announced acquisition of Ivantis, the developer of Hydrus Microstent, a minimally invasive glaucoma surgery (MIGS) device designed to lower eye pressure for open-angle glaucoma patients in connection with cataract surgery.

Alcon had in November 2021 announced its intention to acquire Ivantis for $475 million in upfront consideration. Ivantis Inc. was established in 2007 to design, develop and commercialize new technologies to treat eye disease and is headquartered in Irvine, California.

The acquisition and the immediate integration of Ivantis is expected to further strengthen Alcon’s global surgical portfolio. It would also allow Alcon to begin its future growth plans to bring Hydrus Microstent to more international markets and prioritize its ongoing evidence-based research.

Shares of Alcon Inc (ALC) closed Friday’s trading at $80.56, down $1.90 or 2.30 percent from previous close.

908 Devices Sees 165% Rise In Q4 Revenue

908 Devices Inc. (MASS) said it expects revenue for the fourth quarter of 2021 to be at least $15.1 million, compared to $5.7 million in the fourth quarter of 2020, reflecting growth of at least 165%.

Preliminary revenue for the year ended December 31, 2021 is expected to be at least $41.5 million, compared to $26.9 million in full year 2020, reflecting growth of at least 54%.

The company expects to announce complete fourth quarter and full year 2021 financial results in early March.

Gold Edges Higher In Cautious Trade

Gold prices were a tad higher on Monday as investors focused on Omicron cases and U.S. inflation data due this week for directional cues.

Spot gold edged up 0.2 percent to $1,800.58 per ounce, while U.S. gold futures were up 0.1 percent at $1,798.80.

The dollar ticked up and U.S. Treasury yields reached a new two-year high in response to the jobs numbers released on Friday.

Despite weaker than expected job growth, the unemployment rate slid to 3.9 percent in December from 4.2 percent in November.

Friday’s U.S. employment numbers showed stronger-than-expected wages, raising the prospect of earlier than expected rate hikes.

This week’s trading may be impacted by reaction to reports on consumer and producer price inflation, retail sales and industrial production.

There are testimonies and speeches by several Fed officials throughout the week.
Incumbent Fed Chairman Jerome Powell’s confirmation hearing in the Senate Banking Committee for his second term will take place on Tuesday, while the hearing for Lael Brainard, the vice-chair nominee, is on Thursday.

China also releases its consumer and producer price inflation data on Wednesday.

On the Covid-19 front, the Omicron Covid-19 variant continues to spread rapidly.

The discovery of a new strain that combines Delta and Omicron is also on the radar.