On this episode of Stock Movers:
- Keurig Dr Pepper (KDP) shares soared ahead of the New York open after the company announced it now expects fiscal 2025 constant currency net sales growth in a high-single-digit range, revised from a mid-single-digit growth outlook previously. KDP also announced it is raising $7 billion from Apollo and KKR to help finance its acquisition of JDE Peet’s NV, aiming to ease investor concerns about taking on too much debt.
- Carter's (CRI) shares fall ahead of the open after the children’s apparel company reported net sales for the third quarter that missed the average analyst estimate. The company also plans to reduce offices-based roles by about 15% by the end of 2025, and it boosted the amount of stores it plans to close.
- Avidity Biosciences (RNA) shares rally in premarket trading after Novartis (NOVN) agreed to buy the biotechnology company in a deal valued at $12 billion. It marks the Swiss drugmaker’s biggest acquisition in more than a decade and adds several potential blockbuster treatments as generic competition looms for its current top-sellers.
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