Gapping up
In reaction to strong earnings/guidance:
In reaction to strong earnings/guidance:
- LNN +9.7%, PRGS +6.6%, (also acquires Kinvay a privately-held company based in Boston and leader in Backend as a Service (BaaS) technology, for $49 mln in cash), STZ +5.4%, WOR +3.7%, GBX +2.6%,IRET +2.5%, GMS +2.5%, MKC +2%, KLIC +1.7%, SHLM +0.7%, CAG +0.5%
M&A news:
- MBUU +7.6% (Malibu Boats to acquire Cobalt Boats for aggregate purchase price of $130 mln; expected to be accretive to Malibu's EPS; will host a conference call June 29 at 8:30 am ET)
- WBA +5.1% (Rite Aid (RAD) and Walgreens terminate merger, sign new agreement whereby Walgreens will acquire 2,186 stores, related distribution assets and inventory from Rite Aid for an all-cash purchase price of $5.175 bln; also reported earnings)
- SPLS +1.7% (Staples confirms definitive agreement to be acquired by Sycamore Partners for $10.25 per share in cash, or approximately $6.9 bln)
Select financial related names showing strength following CCAR results:
- HSBC +4.8%, C +3.5%, JPM +3%, RF +2.9%, KEY +2.8%, BAC +2.8%,ZION +2.8%, HBAN +2.8%, DB +2.7%, DFS +2.7%, PNC +2.5%, MS+2.4%, BK +2.4%, STI +2.2%, GS +2.1%, CMA +2%, USB +2%, FITB +2%,WFC +1.8%, STT +1.7%, AXP +1.5%, BBVA +1.4%, SAN +1.2%, CFG+1.2%, MTB +1.1%, ALLY +1%, .