Latest news with #GMS
Miami Herald
an hour ago
- Business
- Miami Herald
Stock Market Today: Relief rally erupts after Trump delays Iran decision
Investors seemed relieved early Friday after President Donald Trump said he'd decide within two weeks whether to commit America to join Israel in its war against Iraq. Oil prices were falling with crude oil down 39 cents to $73.11. Don't miss the move: Subscribe to TheStreet's free daily newsletter Trump's decision seemed to surprise many after he'd called for "unconditional surrender" from Iran over its nuclear aspirations. But Trump ally Steve Bannon, a vocal opponent of going to war, visited the White House on Thursday. Futures trading suggests the Standard& Poor's 500 Index will open 8 points higher. The Dow Jones Industrial Average was looking at an opening increase of about 67 points, and Nasdaq-100 futures were up about 50 points. U.S. markets had been closed Thursday for the Juneteenth holiday. Shares of Accenture (ACN) were off 2% preopen even as the consulting giant reported better-than-expected earnings and revenue. Barron's cited weak bookings and leadership changes for the decline. Shares of supermarket operator Kroger (KR) were up 1% to $66.25. . Building-materials supplier GMS (GMS) shares were up 27% premarket to $101 as a bidding war for the company erupted between Home Depot (HD) and Brad Jacobs' QXO. GMS has a market capitalization of about $3.1 billion. Wall Street believes the bidding is already at $5 billion. The 10-year note yield was up slightly at 4.436%. Related: Veteran fund manager sends dire message on stocks The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
2 hours ago
- Business
- Yahoo
Masayoshi & TSMC, GMS, Darden Restaurants: Trending Tickers
SoftBank (9434.T) CEO Masayoshi Son reportedly pitched a $1 trillion artificial intelligence (AI)– and robotics-focused industrial complex in Arizona to Taiwan Semiconductor Manufacturing Company (TSM), according to reports from Bloomberg. GMS (GMS) is facing a potential hostile takeover with QXO (QXO) and Home Depot (HD) among the possible companies interested. Darden Restaurants (DRI) stock is in focus after reporting fourth quarter earnings results that beat expectations. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
3 hours ago
- Business
- Globe and Mail
Company News for Jun 20, 2025
Shares of GMS Inc. GMS rose 3.2% after reporting fourth-quarter fiscal 2025 earnings of $1.29/share, beating the Zacks Consensus Estimate of $1.15. Shares of Coinbase Global, Inc. COIN soared 16.3% following U.S. Senate approval of stablecoin regulation. Shares of Korn Ferry KFY rose 2.9% after reporting fourth-quarter fiscal 2025 earnings of $1.32/share, beating the Zacks Consensus Estimate of $1.26. Shares of Public Service Enterprise Group Incorporated PEG inched up 1.3% on utilities emerging as one of the biggest winning sectors of the day. Zacks Names #1 Semiconductor Stock It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom. With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028. See This Stock Now for Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Korn/Ferry International (KFY): Free Stock Analysis Report Public Service Enterprise Group Incorporated (PEG): Free Stock Analysis Report GMS Inc. (GMS): Free Stock Analysis Report Coinbase Global, Inc. (COIN): Free Stock Analysis Report
Yahoo
3 hours ago
- Business
- Yahoo
Top Movers on Friday: GMS Soars on Takeover Buzz, Tesla Gains Ahead of Robotaxi Rollout
June 20 - GMS Inc. (NYSE:GMS) climbed more than 22% early Friday after a report suggested Home Depot is considering an acquisition of the building products supplier. The move follows a $5 billion proposal from QXO valuing GMS at $95.20 per share. The stock was last seen trading around $98. Warning! GuruFocus has detected 7 Warning Signs with COIN. Tesla Inc. (NASDAQ:TSLA) rose about 1% ahead of a possible robotaxi launch in Austin this weekend. Several Texas lawmakers urged the company to delay the rollout until new self-driving rules take effect on Sept. 1. Coinbase Global Inc. (NASDAQ:COIN) advanced 2% following a sharp rally earlier this week. The company launched a new stablecoin payment platform shortly after the Senate passed legislation focused on digital asset regulation. Circle Internet Group added 16% after surging the prior session. Smith & Wesson Brands Inc. (NASDAQ:SWBI) fell 14% after fourth-quarter earnings came in below expectations. Revenue declined 12% to $140.8 million as demand remained soft. The company cited broader economic trends as a drag on discretionary purchases. Microsoft Corp. (NASDAQ:MSFT) slipped 0.4% amid reports the company plans significant job cuts in July, mainly in its sales division. This article first appeared on GuruFocus.
Business Insider
4 hours ago
- Business
- Business Insider
M&A News: Home Depot and QXO Battle for GMS in Construction Supremacy Bid
American home improvement retailer Home Depot (HD) has initiated a bidding war with smaller rival QXO Inc. (QXO) to strengthen its market position and capture greater contract revenue. According to a Wall Street Journal report, Home Depot made an undisclosed takeover offer for GMS Inc. (GMS) yesterday, following an unsolicited bid from QXO on Wednesday. Confident Investing Starts Here: Home Depot and QXO aim to secure a larger share of the construction supplies and tools market by becoming bigger and more technologically advanced players capable of winning larger contracts. GMS distributes building products and tool supplies, including wallboard, ceilings, steel framing, and complementary construction products to residential and commercial contractors across North America. It operates around 320 distribution centers and 100 tool sales, rental, and service centers. QXO Makes a Compelling Bid for GMS QXO offered to buy all of GMS' outstanding shares for $95.20 per share in cash, valuing the company at about $5 billion. This offer represents a 27% premium over GMS' 60-day volume-weighted average price. The news pushed shares of both companies higher on June 18, with QXO surging 11.7% and GMS closing up 10.6%. QXO has given GMS' board until June 24 to review and respond to the offer. CEO Brad Jacobs has warned that if the company fails to respond, he will take the offer directly to GMS' shareholders. Jacobs is 'confident' that shareholders will find the offer attractive. Interestingly, both GMS and QXO have built their businesses by acquiring smaller companies in the sector over the years. GMS' board has stated that it is reviewing the offer in consultation with its independent legal and financial advisors, acting in the best interests of the company and its shareholders. In the meantime, GMS reported better-than-expected results for Q4FY25 on June 18. Adjusted earnings per share came in at $1.29, beating the consensus of $1.11, while revenues of $1.33 billion also surpassed estimates of $1.3 billion. Despite the downturn in the construction market amid interest rate challenges and overall uncertainty, GMS delivered a solid quarterly performance. Considering its resilient results, it appears that QXO and Home Depot are betting on the right horse for now. Is Home Depot Stock a Good Buy Now? On TipRanks, HD stock has a Strong Buy consensus rating based on 19 Buys and five Hold ratings. Also, the average Home Depot price target of $428.77 implies 23.6% upside potential from current levels. Year-to-date, HD stock has lost 9.7%.
