Actionable news
All posts from Actionable news

Krispy Kreme Doughnuts and Wayfair Inc. Soar on Flat Day for Stocks

Stocks began the new trading week without clear direction. On Monday, the Dow Jones Industrial Average (DJINDICES:^DJI) lost 34 points, or 0.2%, and the S&P 500 (SNPINDEX:^GSPC) rose 2 points, or less than 0.1%:

In a light day for economic reports, quarterly earnings results and corporate merger news drove individual stock price swings. To that end, Krispy Kreme (NYSE:KKD) and Wayfair (NYSE:W) were two of the market's biggest percentage-point winners after announcing major news on Monday.

Krispy Kreme agrees to a buyout
Krispy Kreme shot up 24% after agreeing to be acquired by German-based JAB Holding Company in an all-cash deal valuing the doughnut specialist at $1.35 billion. While that might seem like generous terms, keep in mind that Krispy Kreme's stock was at that price as recently as last summer. Still, executives believe this was the right time to go private.

"This transaction puts us in the best possible position to continue to spread joy to a growing number of people around the world while delivering significant value to Krispy Kreme shareholders," board chairman Jim Morgan said in a press release.

For its part, JAB gets to add Krispy Kreme to a growing consumer foods portfolio that recently welcomed Caribou Coffee and Keurig Green Mountain. "We are thrilled to have such an iconic brand ... joining the JAB portfolio,"...