Asset Sale Fuels Enzo Biochem; Verizon Q2 Earnings Beat
- July 25th, 2023
- 513 views
Shares of Enzo Biochem, Inc. (NYSE: ENZ) surged over 15% in pre-market trading following the successful completion of its asset sale to Laboratory Corporation of America Holdings (NYSE: LH).
The transaction involved the sale of substantially all assets used in the operation of Enzo Clinical Labs in the New York metropolitan region, with an impressive aggregate purchase price of $113,250,000 in cash, subject to customary closing adjustments. As part of the deal, Enzo Biochem will halt its clinical laboratory operations.
In pre-market, $ENZ is currently trading at $1.63, marking a notable increase of $0.27 (+19.85%).
In other news, Verizon Communications Inc. (NYSE: VZ) has released its second-quarter 2023 financial results, reporting adjusted earnings per share (EPS) of $1.21, surpassing the consensus estimate of $1.16.
Looking ahead, Verizon is projecting for the full-year 2023 adjusted EPS to be in the range of $4.55 to $4.85, while analysts are expecting $4.68 for the period
$VZ is currently trading at $34.90 in pre-market, up $0.92 (+2.71%).
THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)
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