On this episode of Stock Movers:
Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Tim Stenovec and Norah Mulinda.
- Keurig Dr. Pepper (JDEPY) shares slid as investors consider the news over the weekend that the company agreed to buy JDE Peet’s NV for €15.7 billion ($18.4 billion) to bolster its struggling coffee business before kicking off a split of its operations. The company will pay €31.85 a share in cash for the Dutch firm, a 20% premium over its closing price on Aug. 22, according to a statement Monday. Keurig Dr Pepper plans to separate its coffee and soft drinks units into two independent, US-listed companies next year once the deal is completed.
- -Puma (PUMSY) shares rallied the most since October 2001 on a report that its billionaire owners, the Pinault family, has reached out to potential buyers of the sports brand after it lost about half of its market value in the past year. The billionaire family, which owns a 29% stake in Frankfurt-listed Puma through Artémis, is working with advisers, possibly with a view to triggering a sale of the company, the people said, asking not to be identified because the deliberations are private.
- American Eagle (AEO) shares fell on word that Bank of America Global Research cut the recommendation on the apparel retailer to underperform from neutral amid tariff pressures on profitability.
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