WATCH: Hot Stocks: Sigma Healthcare, NAB, ResMed, Mesoblast
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Sigma Healthcare (ASX:SIG) shareholders have approved a merger with Chemist Warehouse, creating a $30 billion retail pharmacy giant. This decision follows Chemist Warehouse’s report of a record first-half trading result, with like-for-like sales increasing by over 10%. Following the announcement, Sigma’s shares rose by 7.8% early in the week.
National Australia Bank (ASX:NAB) provided an update on its ongoing $3 billion share buy-back program. As of June 30, 2024, NAB had completed $1.5 billion of the buy-back, resulting in the repurchase and cancellation of 48 million ordinary shares. The remaining $1.5 billion is expected to be completed by May 1, 2025.
ResMed (ASX:RMD) announced its financial results for the second quarter of FY25 on January 30, reporting an 11% increase in revenue to $1.22 billion, driven by strong demand for its sleep apnea and respiratory care products. Operating profit rose by 34% to $387.3 million. The company also unveiled the AirTouch N30i, a revolutionary new fully fabric sleep apnea mask developed over the past decade to enhance patient comfort.
Mesoblast (ASX:MSB; Nasdaq:MESO) has updated on the U.S. launch of Ryoncil® for pediatric graft-versus-host disease. CEO Dr. Silviu Itescu said the focus is on finalising logistics and approvals to make the product available this quarter. The company raised A$260m, boosting cash reserves to A$322m to support the launch and expansion. Another update is expected on 27 February.
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