Stocks opened the week lower Monday, with the Dow Jones Industrial Average down 0.21%, the Nasdaq down 0.37% and the S&P 500 down 0.30%. Today’s winner is being boughto out by a rival, while one of today’s losers plunged following an unexpected CEO resignation. The other loser’s founder is looking to take the company private, but has hit an impasse with the board of directors.
Here are Monday’s market winner and losers.
Biggest Winner
Shares of Coventry Health Care Inc. (NYSE: CVH) are up 18.72% to $41.48 on trading volume of 14.9 million shares. Aetna Inc. (NYSE: AET) will buy Coventry for 5.7 billion in cash and stock. Before Monday, the 52-week high was $36.04.
Biggest Losers
Shares of ZAGG Inc. (NASDAQ: ZAGG) are down 13.18% to 7.31 on trading volume of 2.1 million shares. The company chairman and CEO, Robert Pederson, announced he was stepping down without providing a reason, leading to concern about management transition difficulties. The 52-week low is $6.40.
Shares of Best Buy Co. Inc (NYSE: BBY) are down 7.25% to $18.80 on trading volume of 7 million shares. The retailer’s board has reached an impasse with founder Richard Schulze regarding his plans to take the company private. The 52-week low is $16.97.
Samuel Weigley
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