CSRA Inc (NYSE:CSRA) (Bloomberg)
General Dynamics Corp., the maker of Abrams tanks and nuclear submarines, is making a file wager on reinvigorating its information-technology enterprise. The U.S. protection contractor agreed to purchase CSRA Inc. for about $6.eight billion to develop its computer-services choices for presidency businesses and army prospects. CSRA holders will obtain $40.75 a share in money, General Dynamics stated in an announcement Monday, a 32 p.c premium over the closing value on the finish of final week. “What we’re doing with this transaction is taking our good GDIT enterprise and making it higher, stronger, a extra viable competitor,” General Dynamics Chief Executive Officer Phebe Novakovic stated on a convention name with analysts and buyers. “It’s low danger. It’s obtained terrific return on invested capital and nice money circulation.” General Dynamics fell lower than 1 p.c to $210.70 at 10:51 a.m. in New York. CSRA surged 31 p.c to $40.47.
Ulta Beauty Inc (NASDAQ:ULTA) (MarketWatch)
Ulta Beauty Inc. ULTA, -Four.42% shares are down Four.three% in Monday buying and selling after a lawsuit filed in Chicago federal court docket alleges the chain bought used cosmetics. A Chicago Tribune report says a California lady is searching for class-action standing for the go well with, which accuses Ulta of repackaging returned cosmetics and promoting them alongside never-opened merchandise. Former staff have tweeted alleging the apply. “The go well with shouldn’t be based mostly on proof of a well being outbreak or product efficacy, which can finally make it simpler to defend,” wrote Jefferies analysts in a word. “But within the court docket of public opinion, any type of social pushed marketing campaign that challenges client notion of security is a danger.”
Sapiens International Corporation N.V. (NASDAQ:SPNS) (Benzinga)
Sapiens International Corporation N.V. dropped 14.Four p.c to $10.10. Sapiens Intl narrowed its FY2017 gross sales steering and issued a weak FY18 gross sales forecast.
Stamps.com Inc. (NASDAQ:STMP) (The Motley Fool)
What occurred: Shares of postage cost facilitator Stamps.com (NASDAQ:STMP) dropped as a lot as 11% in early buying and selling Monday, earlier than reviving to ebook “solely” a 7.1% loss as of 12:15 p.m. EST. Stamps.com hasn’t reported something noteworthy right now, nor are its earnings out simply but. So what: Instead, I feel you possibly can blame Amazon.com (NASDAQ:AMZN) for this one. Three months in the past, Stamps.com reported an enormous earnings beat, however stated Amazon was bringing a few of its “Fulfillment by Amazon” postage billing in-house and that may have an effect on Stamps.com’s enterprise going ahead.
Market Movers Today: CSRA Inc (CSRA), Ulta Beauty Inc (ULTA), Stamps.com (STMP), and More by: Pamela Hendrix published: