Kellogg Rises, Delta Higher, MP Materials Up On News of $400m Defense Department Deal
On this episode of Stock Movers:
- WK Kellogg (KLG) shares are higher on news that Ferrero Group to buy WK Kellogg for $23 per share, representing a total enterprise value of $3.1b. The W.K. Kellogg Foundation Trust and Gund Family agreed to vote 21.7% of WK Kellogg Co’s shares in favor of deal
- Delta (DAL) shares rise after the carrier announced that it is restoring its full-year earnings guidance. The company expects full-year adjusted EPS of $5.25 to $6.25 in 2025.
- MP Materials (MP) shares are higher after they struck a multi-billion dollar public-private deal with the US Department of Defense to build a new magnet plant and expand rare earth capabilities, backed by $400m in equity and a $1b loan commitment.
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