4 Super Hot Stocks: UTX Pulls Trigger, FDX Earnings, Rite Aide Down

After working on a deal for months, United Technologies (NYSE:UTX) announced it would buy Goodrich Corp (NYSE:GR) in an all cash deal of $16.5 billion.  J.P. Morgan (NYSE:JPM) and Goldman Sachs (NYSE:GS) advised UTX, while Credit Suisse (NYSE:CS) and Citi advised Goodrich. Shares of United Technologies fell nearly 5% in early trading, while Goodrich popped nearly 10%.

FedEx (NYSE:FDX) fell more than 3% even though the company’s net income rose to $464 million vs. $380 million in the same quarter a year earlier. This marks a rise of 22.1% from the year earlier quarter.  FedEx cut its full-year profit forecast due to volume declines.  Competitor United Parcel Service (NYSE:UPS) fell 2% before the opening bell.

Don’t Miss: FedEx Corporation Earnings Cheat Sheet: Double-Digit Revenue Streak Continues.

Shares of Rite Aid (NYSE:RAD) fell 1% in pre-market trading as the company reported that its second-quarter loss narrowed more than expected as the drug store company improved same-store sales.  Rite Aid also raised its per share forecast to a loss of 40 cents to 56 cents, compared to a loss of 42 cents to 64 cents.  The company competes with drug store giants Walgreen (NYSE:WAG) and CVS Caremark (NYSE:CVS).

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