Market recap: Lyft shares post strong showing after IPO

March 30, 2019 at 5:33AM
Lyft co-founders John Zimmer, center left, and Logan Green, center right, at the company’s IPO party on Friday morning, March 29, 2019, in Los Angeles. With its initial offering, Lyft leapt ahead of Uber to became the first publicly traded ride-hailing firm. (Alex Welsh/The New York Times)
Lyft co-founders John Zimmer, center left, and Logan Green at the firm’s IPO party Friday in L.A. (The Minnesota Star Tribune)

Hail Lyft: Lyft shares rose 9 percent to $78.29 in their first day of trading Friday as the company capped the first IPO for a U.S. ride-hailing service, establishing its market value at nearly $30 billion.

In gear: CarMax vaulted 9.6 percent to $69.80 Friday after the auto chain's earnings topped Wall Street's forecasts, even as revenue fell short of expectations.

Healthy bounce: WellCare Health Plans jumped 9.9 percent to $254.18 Wednesday after the company agreed to be acquired by rival Centene for $305.39 per share in cash. Shares closed the week at $269.75.

Deal talk: Bed Bath & Beyond soared 27 percent to $17.64 Tuesday after the Wall Street Journal reported that the troubled retailer is being targeted by three activist investors. Shares closed the week at $16.99.

Cable peace: Media company Viacom rose 6 percent to $26.85 Monday after the company reached a carriage deal with AT&T that would avert a blackout of its channels. Shares closed Friday at $28.07.

Tick tock: Watch maker Movado Group jumped 23 percent to $40.06 Thursday after reporting a 34 percent sales jump thanks to its acquisition of fashion watch company MVMT and organic growth that topped 10 percent. Shares closed Friday at $36.38.

Nice fit: Apparel maker PVH Corp. shares rose 14 percent to $127.26 Thursday after beating earnings expectations and saying it would exit its high-end collection of Calvin Klein apparel and shut the label's flagship store on New York's Madison Avenue. Shares closed Friday at $121.95.

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Jeremy Olson/The Minnesota Star Tribune

Triage unit treats many children without ever taking them into the actual ER, freeing up time for the rest of the emergency medical staff.

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