Momentum Stocks

PepsiCo Acquires South Africa’s Pioneer Foods Group

PepsiCo Acquires South Africa’s Pioneer Foods Group

PepsiCo (PEP) said early on Friday that it has signed an agreement to acquire South Africa’s Pioneer Foods Group (JSE: PFG) for about $1.7 billion in cash, creating a “leading” food and beverage company in Africa. The US food, snacks and beverage giant will purchase Pioneer Foods for 110.00 South African rands ($7.89) per share, which implies a valuation of […]

Ryanair Cuts Summer 2020 Growth Rate

Ryanair Cuts Summer 2020 Growth Rate

Ryanair (RYAAY, RYA.L), Europe’s largest budget airline, said early Tuesday that its summer 2020 growth rate would be cut by more than half and winter 2019 schedules won’t remain unaffected because of the delay in Boeing (BA) 737 MAX aircraft deliveries, which may not return to skies until December. The group said in a statement early on Tuesday that it […]

Harris Wins $212 Mln F/A-18 Electronic Warfare System Contract

Harris Wins $212 Mln F/A-18 Electronic Warfare System Contract

Harris (HRS), a technology and defense company, said pre-market Monday that it has won a $212 million contract modification to supply electronic jammers to protect US Navy and foreign military sales F/A-18 Hornet and Super Hornet aircraft from electronic threats. The contract, which represents the largest order on the program to date, was received during the company’s fiscal Q3. Harris […]

Morgan Stanley Remains ‘Cautious Evenweight’ on Western Digital Ahead of Earnings

Morgan Stanley Remains ‘Cautious Evenweight’ on Western Digital Ahead of Earnings

Western Digital (WDC) is scheduled to report earnings after the close on Monday, and while the company is enthusiastic about a second half recovery, Morgan Stanley analysts said they are “convinced” that there is too much inventory for that to happen. “WD does have an offsetting tailwind as hard disk drive margins should recovery through the year, but still from […]