Potential Buyout Sends This Stock Soaring
Good morning Wake-Up Watchlisters! While you’re sipping that first oat milk latte you’ll see stocks bumped up slightly after President Joe Biden mentioned China tariffs imposed by Trump are in consideration. This led to futures rising as bargain hunters could pull the S&P 500 back from bear-market levels.
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Here’s a look at the top-moving stocks this morning.
VMware, Inc. (NYSE: VMW)
VMware Inc. is up 19.19% premarket after reports said Broadcom is in talks to buy the cloud-computing company. Broadcom (AVGO) is a chip maker with a market value of about $222 billion. There is currently no offer and it is still possible a deal won’t be reached. Keep an eye on VMware going forward.
EQT (NYSE: EQT)
EQT Corp. is up 5.09% premarket after nine analysts revised the company’ earnings estimate for fiscal 2022. The Zacks Consensus Estimate has increased $0.72 to $2.73 per share. EQT’s average earnings surprise stands at 93.3%. EQT is looking strong.
International Flavors & Fragrances (NYSE: IFF)
International Flavors & Fragrances (NYSE: IFF) is up 4.72% premarket after a strong May earnings report. The company increased its sales 31% to $3.2 billion. The company also invested $629 million into research and development for fiscal 2021, which was close to double compared to other years. But full-year revenue also doubled over that same timeframe, so the percentage remained the same. Keep an eye on International Flavors & Fragrances going forward.
Broadcom Inc. (Nasdaq: AVGO)
Broadcom is down 4.31% premarket as the company enters talks to acquire VMware Inc., the cloud-computing company. This potential blockbuster tech deal could vault the chipmaker into a highly specialized area of software. Broadcom is looking volatile right now.
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Those are the top market movers today.
Happy trading!
The Wake-Up Watchlist Research Team