Retail Company Booms Amid Takeover Talks

Good morning Wake-Up Watchlisters! While you’re sipping that cleansing cucumber pineapple juice you’ll see US stock futures fell Tuesday as central banks deal with tightening policy fanned growth fears. Investors remain reluctant to take on risk and it’s looking like volatility could continue through the summer.

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Here’s a look at the top-moving stocks this morning.

Kohl’s Corp (NYSE: KSS)

Kohl’s is up 13.70% premarket after the struggling retailer said it’s talking with the Franchise Group (Nasdaq: FRG) over a possible $8 billion takeover. Franchise Group is willing to pay $60 a share for Kohl’s, and has entered a three-week window that will allow the company to do its due diligence. Keep an eye on Kohl’s going forward.

Novavax (Nasdaq: NVAX)

Novavax is up 3.49% premarket after the company’s shares were hit with an investor sell-off on Monday. This was triggered by a reaction to the Food and Drug Administration (FDA) releasing documents that showed concern over the company’s NVX-CoV2373 coronavirus vaccine. Despite the worrisome news, the company quickly recovered. This is most likely due to a panic-driven and perhaps unjustified response to the documents. Keep an eye on Novavax going forward.

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Under Armour Inc. (NYSE: UA)

Under Armour is down 3.07% premarket after the company was dropped from the S&P 500 after a few rocky weeks that saw disappointing quarterly results. At the time, CEO Patrik Frisk attributed the poor performance to temporary factors such as supply chain challenges, Covid-19 restrictions in China and rising inflation. Under Armour is looking volatile.

Flowers Foods (NYSE: FLO)

Flowers Foods is up 2.99% premarket as the same trends that led to people cooking at home during the pandemic are carrying over. With inflation rising and less people eating out, Flowers Foods is rising to the occasion. So far this year, its stock is down less than 1%. The company also recently raised its quarterly dividend this year by 4.8% to $0.22. Flowers Foods is looking strong.

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team