1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
Omar Venerio
Omar Venerio
Articles (1254) 

US Stock Market Advances Monday

General Dynamics will acquire CSRA

U.S. stocks are in the green, leaving behind last week's losses, in which it registered the worst weekly drop since early 2016.

Shares of CSRA Inc. (NYSE:CSRA) skyrocketed more than 30% in today's pre-market trading on news that General Dynamics said it will buy the company for $6.8 billion, or all outstanding shares for $40.75 in cash, for $9.6 billion, including debt.

The acquisition will be accretive to General Dynamics' GAAP EPS and to free cash flow per share next year. It will also generate an estimated annual pre-tax cost savings of approximately 2% of the combined company's revenue by 2020.

Phebe Novakovic, chairman and CEO of General Dynamics said, “The acquisition of CSRA represents a significant strategic step in expanding the capabilities and customer base of GDIT." He highlighted the company´s management team that created a provider of innovative, next-generation IT solutions with industry-leading margins. He added that the more innovative, the more leading solutions they will provide to their customers.

Gainers

· Cboe Global Markets Inc. (NASDAQ:CBOE)

· Under Armour Inc. (NYSE:UA)

· EQT Corp. (NYSE:EQT)

· Marathon Oil Corp. (NYSE:MRO)

· Apple Inc. (NASDAQ:AAPL)

Losers

· Ulta Beauty Inc. (NASDAQ:ULTA)

· SCANA Corp. (NYSE:SCG)

· Ventas Inc. (NYSE:VTR)

· Expedia Inc. (NASDAQ:EXPE)

· TripAdvisor Inc. (NASDAQ:TRIP)

Global Markets

The main European stock markets closed in positive territory. The U.K.'s FTSE gained 1.19%, France's CAC advanced 1.20%, Germany's Dax jumped 1.45% and Spain's Ibex added 1.46%.

In Asia, Japan's Nikkei lost 2.32% and Hong Kong's Hang Seng declined 0.16%, while India’s BSE Sensex advanced 0.87% and China´s SSE Composite jumped 0.78%.

Disclosure: The author holds no positions in any stocks mentioned.

About the author:

Omar Venerio
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

Rating: 0.0/5 (0 votes)

Comments

Please leave your comment:


Performances of the stocks mentioned by Omar Venerio


User Generated Screeners


pughplBig_Grow_Big_MOS
rael2222A1
tim.hartlandStrong, profitable, dividend g
frsahbuchwert europa
DANGORDON8-16 15% GROWTH
bhaveravindramodified magic screen
JessicaChuang2018 Aug
efredbacBond Screen Cash>Debt
WellrossHidden%20Gems
pbarker46Small cap dividend
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)

GF Chat

{{numOfNotice}}
FEEDBACK