Merger Mania Is Sending These 2 Little-Known Stocks Soaring
Stocks weren't able to mount a convincing recovery on Monday morning after facing steep volatility toward the end of last week. As of 10 a.m. ET today, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 295 points to 34,443. The S&P 500 (SNPINDEX: ^GSPC) had lost 20 points to 4,398, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) held up better, trading unchanged at 13,791.
There are a lot of uncertainties in the financial markets right now, with inflationary pressures, pandemic-driven disruptions, and geopolitical conflict weighing on investor sentiment. Yet in the corporate world, companies looking for strategic acquisitions are finding that there are good deals to be made. This morning, a couple of stocks got big boosts on news of takeover interest. Below, you'll learn more about why Cornerstone Building Brands (NYSE: CNR) and BioDelivery Sciences International (NASDAQ: BDSI) got onto investors' radar Monday morning.
Shares of Cornerstone Building Brands jumped more than 22% on Monday morning. The maker of exterior building products received a buyout bid from its largest shareholder to go private in a deal valuing the company at more than $3 billion.
Source Fool.com
