| Monday's Markets | |
|---|---|
| S&P 500 7,109 (-0.24%) |
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| Nasdaq 24,404 (-0.26%) |
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| Dow 49,443 (-0.01%) |
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| Bitcoin $76,315 (+1.79%) |
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UnitedHealth Group (NYSE:UNH) popped over 5% higher ahead of the opening bell thanks to results showing profits higher than analysts expected, along with revenue ticking higher from $109.58 billion in the prior-year quarter to $111.72 billion.
Fool contributing analyst Lou Whiteman, Team Hidden Gems
QXO is acquiring TopBuild (recommended in Stock Advisor by Team HG) for $17 billion, instantly making it the second-largest publicly traded building products distributor in North America.
It is tough to see TopBuild (NYSE:BLD) come off the market, but I really like this deal for QXO (NYSE:QXO). Jacobs is paying up for a top asset, and there isn't as much low-hanging fruit here as in some of his deals. But the opportunity here is to infuse BLD's systems into the rest of QXO, while also providing access to capital markets and tech investment that BLD could not do on its own. QXO (upon close) is suddenly the second-largest publicly traded building products company, up from zero a year ago. With a nice 50/50 split between residential and commercial and between new and retrofit, with strong relationships on both the supplier and buyer side. I don't want to gloss over the downside potential here. Big deals can be scary, and this one definitely adds new risk, but this is Brad Jacobs on script.
The Philadelphia Semiconductor Sector Index (SOX) is enjoying its largest rally since 2002, jumping 30% in the past 13 days, as positive earnings momentum and sentiment around artificial intelligence (AI) help to elevate the sector.
Apple's (NASDAQ:AAPL) CEO transition happens in September -- Tim Cook moves to chairman; John Ternus takes over as CEO.
Have you ever held a stock through a major CEO transition? How did it play out, and did it change how you think about leadership changes?
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