Diamonds and Dogs



Wayfair (W) gets an upgrade. The online house furnishing stock is up 23% after the company said it was laying off 1,750 employees, or about 10% of its workforce. J.P. Morgan upgraded the stock after being bearish for nearly 3 years, citing commitment to cost cuts and market share trends.

Merger Monday. Water company, Xylem (XYL) is down 9% after announcing they will buy a peer, Evoqua Water Technologies in an all-stock merger that values the target around $7.5 billion. Climate change and population growth have made water an increasingly valuable and essential asset and there aren't all that many pure-play water companies.

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