The US stock market has finished growing Monday as they survived the end of the day to. In the S&P 500 Index rose 0.3%, index Dow Jones rose by 0.2% and the Nasdaq rose 0.5% to end the day.
It was a day of mergers and acquisitions as Nike Inc. (US:NKE) and verifone systems Inc (Ticker NYSE:pay) both foreclosure news after hour, until the container brands Corporation (Ticker NYSE:stupid) has revised its guidance.
Here’s what you should know:
Nike Inc. (NCRE)
Nike shares moved higher as the company announced the acquisition of technology.
The sports apparel company said it bought Invertex Ltd., tel Aviv computer vision firm, which should help the company to strengthen its digital technology platforms. This step will contribute to the innovation Nike in the industry.
“The acquisition of Invertex will deepen the bench of digital talent and further our capabilities in the field of computer vision and artificial intelligence as we create the most compelling consumer experience of Nike in every touch point,” says Nike chief digital officer, Adam Sussman.
David Bleicher, CEO Invertex, said: “the Nike relationship and understanding their customers is unsurpassed, and we look forward to joining their team to help drive direct violation of consumers”.
NKE shares received after a call on Monday about 1.2%.
Container brands Corporation (tup)
Brands dishes has revised its recommendations, but the stock was unchanged late on Monday evening.
The company announced that for first quarter it now expects revenue to drop 2 percent compared to the same quarter last year, down from the lower end of previous guidance of 1% growth. It also sees earnings of 87 cents to 92 cents a share, below a previous forecast of $1.01 to $1.06 per share.
The container says that it will offer investors a more complete update of its expectations when it releases earnings on April 25 before the bell. Influenced by a number of factors contributing to the reduction of the quarterly results, including 6% per share impact of US tax reform and customer service issues in Europe.
Stupid stock traded flat after hours.
Company verifone systems Inc (pay)
Shares of verifone systems’ soared as the company announced that it has acquired.
Technical services provider announced on Monday that it agreed to be taken private by an investor group, under the leadership of Francisco partners. The amount of the transaction amounted to $ 2.58 billion dollars in cash.
Systems-verifone, the company added that the transaction amounted to a total of $ 3.4 billion, including debt, and that the deal should be completed in the third quarter of this year. Part of the terms of accession are the “go-shop” period, which paves the way for the Board of the company and consultants to consider alternative proposals until may 24.
The group that buys the company includes canadian institutional investor British Columbia Investment Management Corp. Amount of equity in the transaction is based at 112.2 million outstanding diluted shares as of Jan. 31, according to regulatory filing the company.
Paid shares yesterday soared 51.3% after the bell.
At the time of this writing, Karl Utermohlen not to take a position in any of the above securities.