Movers: Clif Bar, Kellogg, Lennar, Mondelez, Spirit Air, Tesla, Valneva
- Barry Adams
- U.S.A. New York City
-
Kellogg announced its plan to split its international and plant food businesses. Mondelez agreed to acquire Clif Bar & Co for $2.9 billion. JetBlue lifted its offer for Spirit Air. Lennar reported higher than expected sales and earnings.
Kellogg Company gained 2.6% to $69.30 after the food products maker said it plans to split into three separate companies.
North America cereal company with about total sales of $2.4 billion covering the U.S, Canada, and Caribbean.
Global snacking company with about total sales of $11.4 billion covering international markets for cereals and North American frozen food businesses.
Plant Co with about total sales of approximately $340 million focus on plant faced food and anchored with the MorningStar Farms brand.
Lennar Corp jumped 2.5% to $66.41 after the home builder reported better-than-expected sales and higher-than-expected adjusted earnings of $4.69 a share.
The home builder said that the home demand began to soften towards the end of the quarter by higher home prices and rising mortgage rates.
Mondelez International Inc gained 1.3% to $59.57 after the company agreed to acquire Clif Bar & Co. for $2.9 billion and additional earnings contingent payouts.
Clif Bar & Company will continue to operate its business from its headquarters in Emeryville, CA and manufacture its products in its facilities in Twin Falls, Idaho, and Indianapolis, Indiana.
Spirit Airlines advanced 7% after JetBlue lifted its offer price to $33.50 a share as the company board discusses its merger plans with Frontier Air.
Tesla Inc soared 11.4% to $724.79 after CEO Elon Musk confirmed in an interview with Bloomberg News that the automaker is planning to cut 10% salaried staff or 3.5% of total over the next three months.
Valneva SE ADR soared 89.5% to $25.98 after Pfizer agreed to acquire 8.1% stake in France-based specialty vaccine maker for $95 million.
Annual Returns
| Company | Ticker | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Kellogg Company | K | 0% | 45% | -24% |
| Mondelez International Inc | MDLZ | 0% | -18% | 7% |
| Spirit Airlines Inc. | SAVE | 0% | -82% | -19% |
| Lennar Corporation | LEN | -1% | -9% | 67% |
| Tesla Inc | TSLA | -12% | 74% | 48% |
| Valneva SE | VALN | 16% | -60% | -27% |