Fossil Group (FOSL) Regains Footing
In international trading, Asia was mixed as well. The Hang Seng in Hong Kong gained 253.43 points on the day. The Nikkei ended the trading day completely flat. In Australia, the ASX closed the day down nearly 10 points. In Europe, the markets fared much better. Stocks were up across the board.
Fossil Group (FOSL) Regains FootingAfter a huge loss on the news that it was acquiring wearables manufacturer Misfit, Fossil Group regained their footing today. It regained 8.54% in trading today. It closed up 2.54 points to end the day at $34.57, down $20 from its former-high of over $50.
Airgas (ARG) Surges 40%Shares of Airgas (ARG) have surged over the past two days, gaining over 40%. Investors are happy about the announced merger with Air Liquide (AIQUY). The share price moved from less than $100 on Friday morning to $137.35 at the end of the day today. Under the terms of the deal, Airgas shareholders will receive $143 per share when Airgas sells out.
Airgas and Air Liquids are two players in the chemical processing segment of the Industrial sector. Both companies provide specialized gasses for industrial operations like welding.
"Airgas customers and employees will benefit from Air Liquide's unrivalled global footprint and strength in technology, innovation and operational efficiency, while Airgas is ready to bring the entrepreneurial culture and packaged gas excellence that have driven our success to date," Executive Chairman Peter McCausland said in a statement to reporters. "We are excited about the prospects of integrating these two businesses to create the largest industrial gas company in the world."
Published on Nov 17, 2015By Aaron Phillips