Unity and AppLovin shares move in opposite directions following combination proposal Check out this morning's top movers from around Wall Street, compiled by The Fly.
HIGHER -
- Unity (U) up 10% after AppLovin (APP) announced it has submitted a non-binding proposal to the board of directors of the company to combine AppLovin with Unity in a transaction where each outstanding share of Unity common stock would be exchanged for 1.152 shares of AppLovin Class A voting common stock and 0.314 shares of AppLovin Class C non-voting common stock
UP AFTER EARNINGS -
- GlobalFoundries (GFS) up 6%
- Hyatt (H) up 2%
- Beauty Health (SKIN) up 6%
- GoodRx (GDRX) up 29%
DOWN AFTER EARNINGS -
- Sysco (SYY) down 2%
- Norwegian Cruise Line (NCLH) down 8%
- Reynolds Consumer Products (REYN) down 5%
- Novavax (NVAX) down 32%
LOWER -
- AppLovin (APP) down 13% after the company announced a non-binding proposal to the board of directors of Unity Software (U) to combine the companies and lowered its FY22 revenue view
- Micron (MU) down 4% after disclosing Q4 revenue may come in at or below the low end of the revenue guidance range due to declining expectations for CY22 industry bit demand growth for DRAM and NAND
- Signet Jewelers (SIG) down 7% after signing a definitive agreement to acquire Blue Nile for $360M in an all cash transaction and cutting its FY23 revenue outlook
Symbols:
SIG GFS H SKIN GDRX SYY NCLH REYNReynolds Consumer Products
NVAX MU APP - $40.17 /
+3.725 (+10.22%)
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