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.
- Lululemon Athletica (LULU) has entered an arrangement with the National Football League and sports merchandiser Fanatics Inc. to develop a line of fan apparel as the yoga-wear retailer searches for new avenues of growth. The new Lululemon collection, set to be announced on Monday, is the company’s first link-up with the league. The line includes clothes for all 32 NFL teams and will be sold through the NFL and Fanatics shops, along with team stores, beginning on Oct. 28.
- Huntington Bancshares (HBAN) agreed to buy Cadence Bank for $7.4 billion, the Ohio bank’s second major acquisition this year to expand in southern and southeastern states and the latest in a string of deals among US regional lenders. The acquisition will extend Huntington’s footprint to 21 states, stretching from the Midwest to the South to Texas, according to a statement Monday. The bank will add more than 390 Cadence locations, ranking it fifth by deposit market share in the fast-growing metropolitan areas of Dallas and Houston and No. 1 in Mississippi, according to the statement.
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