Three stocks are making the headlines today: Alphabet (NASDAQ:GOOGL), Cardinal Health (NYSE:CAH), and Kellanova (NYSE:K) are each experiencing notable shifts in their market positions due to various factors ranging from potential regulatory actions to strong financial performances and acquisition news. Here’s a quick look at what’s moving the stock prices.
Google Could be Broken Up by the US DoJ
Alphabet shares tumbled 3.79% to $159.64 by mid-morning trading, as reports emerged that the U.S. Department of Justice is considering breaking up the tech giant.
This potential antitrust action comes in the wake of a federal judge’s ruling earlier this month that Google illegally maintained a monopoly in online search. The news has overshadowed Alphabet’s recent partnership announcement with Peloton (NASDAQ:PTON), pushing the stock towards the lower end of its 52-week range of $145.00 to $220.00.
With a market capitalization of $1.954 trillion and a trailing P/E ratio of 23.81, investors are closely monitoring how this regulatory scrutiny might impact Alphabet’s dominant position in the tech industry.
Cardinal Health Reports Double Beat in Fiscal Q4
Cardinal Health saw its stock rise 4.08% to $106.77, buoyed by better-than-expected fiscal fourth-quarter results and an optimistic outlook for 2025.
The healthcare services company reported a 12% increase in fourth-quarter revenue to $59.9 billion, surpassing analyst expectations. Cardinal Health also raised its fiscal 2025 earnings guidance and announced an increase in its stock buyback program by $250 million.
With a market cap of $25.981 billion and a forward P/E of 13.61, the company’s strong performance in its Pharmaceutical and Specialty Solutions segment has instilled confidence in investors.
Kellanova to be Acquired by Mars, Incorporated
Kellanova, formerly known as Kellogg Company, experienced a significant surge of 7.66% to $80.21 following the announcement that Mars, Incorporated would acquire the company for $83.50 per share in cash.
The deal, valued at $35.9 billion including assumed net leverage, represents a 44% premium to Kellanova’s unaffected 30-day volume weighted average price.
This acquisition will combine Kellanova’s popular brands like Pringles and Cheez-It with Mars’ extensive snacking and confectionery portfolio.
The stock’s jump has pushed Kellanova’s market capitalization to $27.453 billion, with investors eagerly anticipating the closure of this major industry consolidation expected in the first half of 2025.
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Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our website policy prior to making financial decisions.
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