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.
Source Fool.com
