Coty Climbs, MGM Gains, Lockheed Martin Falls
On this edition of Stock Movers:
- Coty (COTY) climbed after Women’s Wear Daily reports that the beauty company is looking for buyers. Citi analyst Filippo Falorni writes: “we acknowledge the possibility of M&A, especially given COTY’s valuation, progress on debt deleverage over the last several years with the potential for value unlock from the sale of its Wella stake”
- MGM (MGM) Resorts shares gained, as well as shares in Entain, after BetMGM, the sports betting platform the two companies jointly own, raised its full-year guidance.
- Lockheed Martin (LMT) shares fell on word that a deal between the US and China on rare earths wouldn't include Lockheed Martin's F-35 planes.
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