Diamonds and Dogs
Campbell Soup (CPB), a recent dog, surged 9.4% due to rumors Kraft Heinz may be interested in acquiring the soup maker. Campbell Soup announced last month that its chief executive, Denise Morrison, is retiring and the company would conduct a strategic review of its entire portfolio. Many analysts have doubts that a sale will occur.
Trade tariffs hitting the markets. Nine of eleven S&P sectors finished Monday in negative territory, with growth-sensitive groups being the weakest performers like tech. Harley-Davidson (HOG) tumbled 6.0% after announcing it won't raise prices to cover the cost of the EU's reciprocal tariffs, instead, it'll work to shift production to international facilities. Management disclosed in an SEC filing that tariffs on Harley-Davidson's exports to the EU would increase from 6% to 31%. The added cost amounts to about $2,200 per motorcycle, which management feels would hurt sales in the EU.