These 2 Nasdaq Stocks Are Soaring on Merger News
The stock market has gotten locked in a holding pattern lately, and many investors anticipated that would likely continue on Monday. With the Federal Open Market Committee scheduled to meet on Tuesday and Wednesday to discuss monetary policy and a potential interest rate increase, market participants aren't sure whether the central bank will slow its pace of monetary tightening or double down on its fight against inflation.
Yet in early trading Monday morning, futures on the Nasdaq Composite (NASDAQINDEX: ^IXIC) moved slightly higher, and investors took heart in a couple of high-profile merger deals that showed that the business world still has an appetite for stocks it finds attractive. Below, you'll learn more about what has Coupa Software (NASDAQ: COUP) and Horizon Therapeutics (NASDAQ: HZNP) leading the Nasdaq higher.
Shares of Coupa Software jumped 27% in premarket trading on Monday morning. The provider of software to help companies track and manage their corporate spending agreed to go private in a deal that investors had anticipated a few weeks ago.
Source Fool.com
