Diamonds and Dogs
Dr Pepper Snapple (DPS) is bubbling higher. Dr. Pepper is up 24% after Keurig Green Mountain agreed to buy them for more than $21 billion (£15 billion), bringing the world's biggest single-serve coffee brand, K-Cup, and beverages such as 7UP, Snapple and Sunkist under one roof. The deal is the latest stage of a five-year old push into the U.S. food and beverage market by Germany's JAB Holding Co. which took Keurig owner Green Mountain Coffee Roasters private in 2016, swallowed a part of Mondelez's international coffee business a year earlier and has bought restaurant chains Krispy Kreme and Panera Bread Co.
Wynn Resorts (WYNN) is back to back dogs. After dropping 10% on Friday, Wynn is down another 8% today as the allegations of sexual misconduct by billionaire CEO Steve Wynn continue to reverberate. Steve Wynn resigned as finance chairman of the Republican Party's fundraising arm on Saturday, and adding insult to injury, Saturday was his birthday.