Babcock & Wilcox faces $200 million hurdle after 50% rally
Babcock & Wilcox Enterprises is set for Monday trading with a stronger balance sheet and a jumpy share price, but buyers now face about 10.8 million new shares coming at $18.50 each. The stock closed Friday at $21.85, up 2.97% for the day and about 50% higher than the previous Friday after the company priced its $200 million common stock offering below the market. NYSE is closed over the weekend. Regular trading hours are Monday to Friday, 9:30 a.m. to 4 p.m. New York time. The next open is Monday, when B&W’s offering is set to close and investors will see if demand can cover the new stock.