Stock Movers Coty Climbs, MGM Gains, Lockheed Martin Falls
Jun 16, 2025
Coty's stock surges as rumors circulate about potential buyers, highlighting its ties to Kylie Cosmetics and innovative vending machines. Meanwhile, MGM's shares rise after BetMGM boosts its financial outlook, reflecting the growing momentum in sports betting. In contrast, Lockheed Martin's stock dips due to geopolitical tensions affecting rare earth deals, specifically involving the F-35 planes. The discussions reveal fascinating dynamics in beauty, gaming, and defense sectors amidst shifting market landscapes.
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Coty Considers Breakup Sale
- Coty's stock surged about 13% on early reports of a potential sale to break up its two main units.
- The breakup could unlock value, especially as its luxury fragrance business outperforms the mass-market cosmetics segment.
Coty's Kylie Cosmetics Acquisition
- Coty famously bought a 51% stake in Kylie Cosmetics in 2019, valuing it around $1.2 billion.
- This acquisition contributed to Kylie Jenner's billionaire status and boosted Coty's portfolio.
MGM Boosted by Sports Betting
- MGM Resorts shares rose about 8% driven mainly by increased expectations for BetMGM sports betting revenue.
- BetMGM raised annual revenue outlook to $2.6 billion, highlighting the growth of sports betting partnerships.