Stock Alert: Hayward Holdings Shares Hit 52-Week High

Shares of Hayward Holdings Inc. (HAYW) reached a 52-week high of $26.81, and are currently trading at $24.85, up 25 cents or 1.02%, with trading volume of over 475K versus an average volume of 1.18 million shares.

On May 17, the company announced that its indirect, wholly owned subsidiary Hayward Industries Inc. has successfully secured commitments for a senior secured term loan facility in an aggregate principal amount of $1 billion. Proceeds would be used to refinance existing term loans and revolver borrowings, fund cash to the balance sheet, and pay related fees and expenses. This refinancing would significantly reduce the company’s interest expense and extend the term loan debt maturity to 2028, the company said.

New York Mets pitcher Noah Syndergaard exits rehab start early due to right elbow soreness

NEW YORK — Noah Syndergaard left his rehab start for Low-A St. Lucie after only pitching an inning on Tuesday evening because he experienced right elbow soreness, the New York Mets announced. 

Based on a progression schedule Mets manager Luis Rojas shared with reporters on Sunday in Miami, Syndergaard was scheduled to throw at least four innings. The Mets are having him throw two four-inning outings, two five-inning outings, then two six-inning outings as he works his way back from Tommy John surgery. 

Syndergaard struck out one batter and walked another in a scoreless inning. He was hitting 94-95 mph in the frame. He threw 16 pitches, 10 of which were strikes. 

Mets acting general manager Zack Scott on Monday said the Mets expected Syndergaard to return by the middle of June. As of now, it's unclear how far this will set back Syndergaard. 

Sun Pharma Q4 profit more than doubles to ₹894 crore

In FY21, firm repaid $580-mn debt; board okays ₹2 dividend

Sun Pharmaceuticals Industries Ltd. reported fourth- quarter consolidated net profit jumped 124% from a year earlier to ₹894.1 crore.

Adjusted net profit for the quarter was higher by 103.3% at ₹1,343 crore after excluding exceptional items, exceptional tax item and relevant minority interest, the company said in a filing. Consolidated sales from operations grew 4.4% to ₹8,431.4 crore.

For FY21, the drugmaker reported a 23% decline in net profit to ₹2,903.8 crore. Consolidated sales from operations shrank 2.5% to ₹33,139.2 crore.

Final dividend

The board proposed a final dividend of ₹2 per share for FY21, in addition to the interim dividend of ₹5.50 declared in January.

Managing director Dilip Shanghvi said, “FY21 was a year marked by a highly volatile business environment due to the global COVID-19 pandemic and lockdowns in various countries”.

‘Global sales grew 51%‘

“Despite these challenges… we have been able to maintain business continuity and record positive overall growth. While our India business continues to outperform the average industry growth, our global specialty sales have continued to show an improving trend. Global sales for the year have grown 51% to $143 million,” he added.

In FY21, the firm repaid debt of about $580 million.

Gold declines ₹ 319; silver tumbles ₹ 1,287

Gold declined ₹ 319 to ₹ 48,223 per 10 gram in the national capital on Thursday amid rupee appreciation, according to HDFC Securities.

In the previous trade, the precious metal closed at ₹ 48,542 per 10 gram.

Silver also went lower by ₹ 1,287 to ₹ 70,637 per kilogram from ₹ 71,924 per kilogram in the previous trade.

Spot gold prices for 24 carats in Delhi fell by ₹ 319 amid rupee appreciation, according to HDFC Securities.

The Indian rupee opened on a flat note and edged higher by 4 paise to 72.73 against the US dollar in early trade on Thursday.

In the international market, gold was trading higher at USD 1,900 per ounce and silver was flat at USD 27.70 per ounce.

"Market is awaiting the US GDP and jobless claims data due in the evening session," according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.

Seven-Year Note Auction Attracts Above Average Demand

Finishing off this week’s series of announcements of the results of its long-term securities auctions, the Treasury Department revealed Thursday that this month’s auction of $62 billion worth of seven-year notes attracted above average demand.

The seven-year note auction drew a high yield of 1.285 percent and a bid-to-cover ratio of 2.41.

Last month, the Treasury also sold $62 billion worth of seven-year notes, drawing a high yield of 1.306 percent and a bid-to-cover ratio of 2.31.

The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.

The ten previous seven-year note auctions had an average bid-to-cover ratio of 2.31.

Earlier this week, the Treasury revealed its auctions of $60 billion worth of two-year notes and $61 billion worth of five-year notes also attracted above average demand.

Ohio reveals the first winners in its $1 million lottery for people who get vaccinated against COVID-19

• Ohio announced the first two winners of its coronavirus vaccine lottery on Wednesday.
• One adult will receive $1 million, and one student will get a full scholarship for college.
• See more stories on Insider’s business page.

One Ohio resident is now $1 million richer after the state on Wednesday announced the first winners of its coronavirus vaccine lottery.

Abbigail Bugenske of Silverton, near Cincinnati, was the first winner announced in the “Vax-a-Million” initiative earlier this month to encourage more people to get vaccinated.

The state also awarded a college scholarship to Joseph Costello from Englewood, near Dayton.

Both were chosen by a random number generator on Monday, WLWT reported, and will need to provide proof they were vaccinated.

On Monday, Ohio Gov. Mike DeWine, a Republican, said more than 2.7 million residents had entered the lottery, which is only open to those who have received a COVID-19 vaccine.

The state is giving away a total of $5 million, along with five full-ride scholarships to any state college or university, room-and-board included.

The next winners will be announced June 2.

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