TWNK - Nasdaq Rises Over 1%; Hostess Brands Shares Spike Higher | Benzinga
U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining more than 1% on Monday.
The Dow traded up 0.29% to 34,676.52 while the NASDAQ rose 1.16% to 13,920.60. The S&P 500, also rose, gaining, 0.66% to 4,486.98.
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Leading and Lagging Sectors
Consumer discretionary shares jumped by 2.6% on Monday.
In trading on Monday, energy shares fell by 1.3%.
Top Headline
JM Smucker (NYSE: SJM) has announced an acquisition of Hostess Brands (NASDAQ: TWNK) that is expected to be completed April 30, 2024.
Under the terms of the agreement, JM Smucker has agreed to give Hostess Brands $5.60 billion in cash & stock in exchange for TWNK stock.
Equities Trading UP
Hostess Brands, Inc. (NASDAQ: TWNK) shares shot up 19% to $33.54 after J.M. Smucker announced it will acquire the company.
Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ: CRNX) got a boost, shooting 64% to $26.27 after the company's once-daily oral paltusotine achieved the primary and secondary endpoints in the Phase 3 PATHFNDR-1 study in acromegaly.
Avantax, ...