AQUA - Why Evoqua Water Stock Is Up and Xylem Is Down Today
There's a big acquisition in the water-tech business, and the two stocks involved are moving in opposite directions.
Shares of Evoqua Water (NYSE: AQUA) climbed as much as 13.9%, and shares of Xylem (NYSE: XYL) were down as much as 11.7%, after Xylem announced plans to acquire Evoqua in a deal valued at about $7.5 billion.
The age of taking water for granted has come to an end. A major drought impacting a sizable portion of the U.S. West has focused considerable attention on the stability of water supplies and has put water stocks on the radar of more investors.
For further details see:
Why Evoqua Water Stock Is Up and Xylem Is Down Today