PHG - Hot Stocks: PHG fell on a warning; KNBE soars on takeover deal; LRN sets new 52-week high; CCJ drops

A choppy session ended with slight losses on Wednesday, with the S&P 500 and Nasdaq both posting their sixth consecutive day of declines. Inflation remained a key talking point, ahead of key consumer price data due out on Thursday.

Among individual stocks, Cameco ( CCJ ) was among the notable decliners after participating in a deal to buy the nuclear technology services operation from Brookfield Business Partners ( BBU ). Meanwhile, Philips ( NYSE: PHG ) plunged on a warning about its Q3 results.

Looking at some of the day's biggest gainers, KnowBe4 ( KNBE ) soared on a deal to be acquired. At the same time, Stride, Inc. ( LRN ) added to recent gains to set a new 52-week high.

Standout Gainer

A takeover deal triggered a wave of buying in KnowBe4 ( KNBE ), with the stock surging nearly 13% on the day.

The cybersecurity firm has reached a deal to be acquired by private equity firm Vista Equity for $24.90 per share in cash. The transaction has a total value of $4.6B.

KNBE closed at $24.33, a gain of $2.74 on the day. With the advance, the stock recorded its highest close since April.

Standout Decliner

Cameco ( CCJ ) dropped on a deal to acquire the nuclear technology services operation from Brookfield Business Partners ( BBU ). News of the $8B deal sent shares of the uranium company lower by 14%.

Under the agreement, an investor group led by CCJ and Brookfield Renewable Partners ( BEP ) will purchase Westinghouse Electric Co. from BBU. The deal is slated to close in the second half of 2023.

Weighed down by the news, CCJ dropped $3.52 to close at $22.30. Shares have seen choppy trading in 2022. Wednesday's drop added to a recent decline, undoing an upswing that marked late August and early September.

Overall, the stock has fallen about 2% for 2022 as a whole.

Notable New High

Stride, Inc. ( LRN ) added to an uptrend that has marked most of the past two months. With another advance of 2%, shares of the for-profit education company reached a new 52-week high.

After starting the session slightly lower, LRN rallied during the morning and into the early afternoon. At its peak, shares reached an intraday 52-week high of $45.56.

LRN moderated a bit by the close, eventually finishing at $45.16. This represented an advance of 90 cents on the day.

Overall, the stock has been trending higher since mid-August, with the stock climbing about 28% since Aug. 17.

Notable New Low

The release of a disappointing forecast prompted selling in Koninklijke Philips ( PHG ). Shares dropped nearly 12% on the news, taking the stock to a new 52-week low.

The company predicted a comparable sales decline in the mid-single-digit range. PHG also forecast that Q3 core profit would decline by about 60%.

In making its warning, the firm blamed supply chain issues and a non-cash goodwill impairment charge of EUR 1.3B for its sleep and respiratory care business.

PHG finished the session at $13.17, a decline of $1.74 on the day. During trading, the stock reached an intraday 52-week low of $13.04.

The slide added to an overall downtrend that has lasted most of the year so far. Shares have fallen about 65% since the end of last year.

For more of the day's best and worst performers, head over to Seeking Alpha's On The Move section .

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