Stocks Shining Bright on Wall Street: Boston Scientific (NYSE:BSX), Chicago Bridge & Iron (NYSE:CBI)

Boston Scientific Corporation (NYSE:BSX) [Trend Analysis] knocking active thrust in leading trading session, shares surge of of 1.29% to 20.35 with about 10.98 Million shares have changed hands in this session. Boston Scientific Corp. (BSX) decided to purchase certain manufacturing assets and capabilities of the Neovasc Inc., (NVCN) advanced biological tissue business, as well as a 15% equity stake in Neovasc, for a total of $75 million in cash. The Neovasc advanced biological tissue business makes elements used in transcatheter heart valves, comprising the Boston Scientific Lotus Valve System.

Upon completion of the transaction, the Neovasc advanced biological tissue capabilities will be integrated into the Boston Scientific structural heart business for use in the manufacturing of the Lotus valve and future heart valve technologies. The acquisition is predictable to close by year-end 2016, subject to customary closing conditions, and to be immaterial to Boston Scientific eps in 2016 and 2017 on an adjusted and GAAP basis. The stock is going forward its fifty-two week low with 29.87% and lagging behind from its 52-week high price with -17.91%.

Same, the positive performance for the quarter recorded as -16.12% and for the year was 12.80%, while the YTD performance remained at 10.36%. BSX has Average True Range for 14 days of 0.54.

Chicago Bridge & Iron Firm N.V. (NYSE:CBI) [Trend Analysis] retains strong position in active trade, as shares scoring -5.17% to $32.10 in a active trade session, while looking at the shares volume, about 3.66 Million shares have changed hands in this session. CB&I (CBI) reported that it has been awarded a contract by Naftna Industrija Srbije (NIS) for the engineering, procurement and construction management of a delayed coker unit in Pancevo, Serbia. CB&I before reported an award of the technology license and front-end engineering and design for the delayed coker that will be integrated with the refinery’s existing CB&I fluid catalytic cracking unit and Chevron Lummus Global hydrocracker.

Chevron Lummus Global is a joint venture among CB&I and Chevron. “CB&I is happy to have been selected for this important project following the successful completion of an extensive process planning study for the NIS Pancevo Oil Refinery,” stated Philip K. Asherman, CB&I’s President and Chief Executive Officer. “NIS and CB&I have a history of successful alliance, and we look forward to working with them on this modernization that will provide for the refining of heavy oil residues.” The firm has institutional ownership of 70.90%, while insider ownership included 0.60%. CBI attains analyst recommendation of 2.60 with week’s performance of -4.69%. Investors looking additional ahead will note that the Price to next year’s EPS is -5.91%.

 

About Richard Avery

He is a capital projects manager and process design engineer at a large-cap company. He has renowned MBA degree. Before joining SWR, he was a freelance writer for renounce tech websites. He is currently studying for CFP exam. Interests: Tech stocks, Economic Markets, Blue-chips.

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