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.
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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