BAX - Hot Stocks: BAX agrees to buy HRC; CHWY FIVE LE fall on earnings news
M&A news and earnings figures drove trading in Thursday's pre-market period. Baxter (NYSE:BAX) provided one of the spotlight stories, reaching a deal to buy medical technology maker Hillrom (NYSE:HRC). On the earnings front, Chewy (NYSE:CHWY), Five Below (NASDAQ:FIVE) and Lands' End (NASDAQ:LE) all lost ground in the wake of their respective quarterly reports. Baxter (BAX) announced that it has reached a deal to buy Hillrom (HRC) for $156 per share. The purchase price gives the deal an equity value of $10.5B. The possibility of the deal had been the subject of speculation lately, leading to a run-up in HRC's stock price lately. On news of the agreement, the stock climbed about 3% in pre-market action to reach $149.99. Turning to earnings news, Chewy (CHWY) reported a quarterly profit that beat expectations. However, the online pet supply retailer failed to meet consensus with its revenue figure, despite 27% growth from last
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Hot Stocks: BAX agrees to buy HRC; CHWY, FIVE, LE fall on earnings news