Rite Aid Emerges from Coutu Group Influence and 2 More Heavily Traded Stocks to Follow
Rite Aid Corp. (NYSE:RAD): Current price $2.87
The end of the serious influence of the Jean Coutu Group on Rite Aid is at hand as the drug store chain announced that a recent share sale will take Francois J. Coutu off the board, effective October 31. The links go back to 2007, and the recent share divestiture from that group effectively placed the holders under a 5 percent ownership threshold.
CapitalSource Inc. (NYSE:CSE): Current price $11.97
The former Securities and Exchange Commission attorney Willie Briscoe, together with the securities litigation firm of Powers Taylor LLP, is looking into the sale of CapitalSource Inc. to PacWest Bancorp for the benefit of shareholders. Through the terms of the proposed merger, CapitalSource shareholders would receive only $2.47 in cash and 0.2837 shares of PacWest for each share of CapitalSource stock they hold. The transaction is valued at roughly $2.3 billion. The CapitalSource sale inquiry focuses on whether shareholders are receiving sufficient compensation for their shares in the proposed deal, if the transaction correctly values CapitalSource stock, and whether CapitalSource’s board endeavored to obtain the highest share price for all shareholders before agreeing to the deal.
eBay Inc. (NASDAQ:EBAY): Current price $51.64
According to a study commissioned by eBay Inc.’s PayPal, online sales of goods among countries will nearly increase by a factor of three during the next five years as more people shop on the Web and merchants look for consumers worldwide. Cross-border Internet commerce between the United Kingdom, Australia, Brazil, China, Germany, and the United States will rise to $307 billion in 2018 from $105 billion in 2013, a Nielsen study published on Tuesday predicts. EBay, as the world’s No. 1 online marketplace, has been searching out growth overseas by adding staff in emerging markets to compete in countries that are exhibiting large increases in online commerce.
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