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It’s been 8 and a half years since Abbott Laboratories (NYSE: ABT) spun off its branded drug unit into a publicly-traded company. At the time, AbbVie had annual revenue of $18.4 billion. Half of its annual sales came from Humira, the company’s biologic therapy intended to treat autoimmune diseases such as psoriasis, rheumatoid arthritis, Crohn’s disease and the like. Today, ABBV has $45.8 billion in sales (2020) and $11.4 billion in operating earnings. Humira now accounts for 43% of its overall sales, down from 61% in 2018. AbbVie increased its quarterly dividend by 10.2% to $1.30 per share with its February dividend payment. An annualized dividend of $5.20 yields 4.5%. ....
Tonight Mostly cloudy skies. A stray shower or thunderstorm is possible. Low 71F. Winds S at 5 to 10 mph. Tomorrow Rain showers in the morning with thunderstorms developing in the afternoon. High 83F. Winds S at 5 to 10 mph. Chance of rain 60%. ....
July 1, 2021 DENVER June 28, 2021 VF Corporation, a global supplier of branded lifestyle apparel, footwear and accessories, today announced that it has completed the sale of the occupational portion of its Work segment to a subsidiary of Redwood Capital Investments, LLC, a diversified holding company. The occupational workwear portion of VF’s Work segment includes the following brands: Red Kap®, VF Solutions®, Bulwark®, Workrite®, Walls®, Terra®, Kodiak®, Work Authority® and Horace Small®. The sale does not include the Dickies® and Timberland PRO® brands. The announcement follows the April 28, 2021, news release in which VF announced that it had entered into a definitive agreement regarding the sale of this business. Terms of the agreement were not disclosed. ....
Sunrise: 05:32:23 AM Sunset: 08:05:58 PM Dew Point: 71° Today Scattered clouds with the possibility of an isolated thunderstorm developing during the afternoon. High 89F. Winds SW at 5 to 10 mph. Chance of rain 30%. Tonight Overcast. A stray shower or thunderstorm is possible. Low 71F. Winds SSW at 5 to 10 mph. Tomorrow Thunderstorms likely. High 83F. Winds WSW at 5 to 10 mph. Chance of rain 80%. Locally heavy rainfall possible. ....
Done Deals: ABG Is Set to Acquire Eddie Bauer + More FN Staff May 7, 2021: SPARC Group LLC announced that it would acquire Eddie Bauer from the Golden Gate Capital-owned PSEB Group. ABG will own the outdoor brand’s intellectual property, and its core operating business will become part of the SPARC portfolio. The transaction is expected to close by June 1. “The addition of Eddie Bauer introduces a new and highly differentiated expertise to the SPARC organization,” SPARC CEO Marc Miller said in a statement. “The brand pushes the boundaries of technical innovation and performance with award-winning outdoor product offerings, bringing an entirely new component to our fashion and lifestyle brand portfolio.” International growth will be an important part of Eddie Bauer’s new brand strategy, with near-term launches in China and Korea as well as opportunities in the Latin America, Europe and Asia-Pacific regions. ....