Diamonds and Dogs
Dunkin' Brands (DNKN) may go private. The coffee stock is up 15% to new highs after confirming they are in talks to be acquired by Inspire Brands for roughly $9 billion. The private equity group already owns restaurant chains Arby's, Buffalo Wild Wings and Jimmy John's.
SAP (SAP) lowers guidance. The cloud software firm is down 21% after cutting estimates due to corporations postponing software purchases due in part to COVID-19. SAP said sales will fall 3.9% year over year. Many software firms are seeing delays in purchases, but SAP may be also losing market share to rivals. Time will tell.
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