Diamonds and Dogs
Hot summer means water is in demand. Water company, Xylem (XYL) is up 4% to a 52 week high on news they are acquiring a firm called, Sensus for $1.7 billion in cash. Looks like Wall Street likes the deal as Xylem expected the merger to be accretive to earnings in 2017. Xylem expects to achieve at least $50 million in annual cost synergies within three years of closing the merger. The transaction is expected to close in the fourth quarter of 2016.
Is the fun over? The summer is coming to an end and the amusement parks are coming under pressure. Six Flags Entertainment (SIX) is down 2.40% to a five month low on cautious comments from the analyst at Janney. August has not been kind to Six Flags' stock down now 15% in the last two weeks. The stock has struggled since reporting disappointing second quarter earnings and sales numbers.