Diamonds and Dogs
Rockwell Collins (COL) is rocking and rolling. The aviation systems company is up 6% to new highs following rumors over the weekend than United Technologies is interested in acquiring the firm. A merger between the companies would combine the largest and fourth largest aircraft parts manufacturers in the country. The rumor is Rockwell tuned down a $140 takeover bid.
Brighthouse Financial (BHF) is down 5% on its first day of trading after being spun off from Metlife. The former financial arm of Metlife will immediately enter the S&P 500. The analyst community has initiated coverage of Brighthouse, most with hold or buys ratings with price targets of $65, $71, $72, & $77. However, Ciitgroup downgraded the stock with a $50 price target.