On Tuesday, Shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY), added 2.35% and closed at $44.00 in the last trading session. The last trading range of the stock ranges between $42.94 and $44.36. Bed, Bath and Beyond may be ditching its coupons, after realizing that the ubiquity of 20% off deals is backfiring for the company.
The retailer is now testing a beta version of its new “Beyond+” loyalty program. The program offers perks counting free shipping and 20% off every entire purchase, for a membership fee of $29 per year.
The 20% discount is a familiar one for Bed, Bath and Beyond customers, thanks to the company’s propensity for distributing 20% off coupons. The retailer’s famous coupons have become a problem for the company — but a new loyalty program could end them entirely.
“If the test of the program is successful, it could usher in a time when BBBY stops or limits the distribution of its free coupons,” UBS analyst Michael Lasser wrote in a research note released in late September. “But, that could have severe consequences.”
Allergan plc Ordinary Shares (NYSE:AGN), jumped 1.30% and closed at $235.78 in the last trading session. The last trading range of the stock ranges between $232.98 and $236.91. The company’s Market capitalization is $92.16 Billion with the total Outstanding Shares of 395.95 million. Allergan plc (AGN) recently declared that it has reached a licensing agreement with MedImmune, AstraZeneca’s global biologics research and development arm, for the global rights to MEDI2070. MEDI2070 is an anti-IL-23 monoclonal antibody presently in Phase IIb clinical development for the treatment of patients with moderate-to-severe Crohn’s disease and is Phase II ready for ulcerative colitis and other related conditions.
Under the terms of the agreement, Allergan will make an upfront payment to AstraZeneca of $250 million for the exclusive, worldwide license to develop and commercialize MEDI2070. In addition, Allergan may make potential payments to AstraZeneca of up to $1.27 billion, payable over a period of up to 15 years, counting launch milestone payments of up to $435 million and sales-based milestone payments of $725 million, in addition to tiered royalties on sales of the product.
MEDI2070 is in development as a next-generation IL-23-only targeted therapy for Crohn’s disease and ulcerative colitis. Targeting IL-23 alone may allow for a broader therapeutic window contrast to IL12/23 targeting therapies and may translate into better efficacy.
Banco Bilbao Vizcaya Argentaria SA (ADR)(NYSE:BBVA), dropped -0.50% and closed at $5.92 in the last trading session. The last trading range of the stock ranges between $5.89 and $5.97. During the 52-week trading session the minimum price at which share price traded, registered at $5.14 and reached to max level of $9.20. Banco Bilbao Vizcaya Argentaria, S.A., together with its auxiliaries, engages in the retail banking, wholesale banking, asset administration, and private banking businesses mainly in Spain, Mexico, South America, the United States, and Turkey. It offers deposit products, counting personal accounts, housing accounts, savings accounts, deposit accounts, etc.; loan products, such as personal loans, mortgages, etc.; credit cards; investment products comprising mutual funds, warrants, and pension plans; and telephone and on-line banking services, in addition to ATMs for individual customers. The company also provides discount lines, loans and advances on loans, leasing, renting, factoring, confirming, contingent liabilities, and flotation services; and foreign trade, placement of surplus cash, cash-flow administration, payment collection, payment of taxes and social security, giros, and transfer services to small and medium enterprises. In addition, it offers corporate and business banking, and corporate and investment banking services; loans to real-estate developers and foreclosed real estate assets; asset administration; and insurance and reinsurance services.