Stocks In News: TBLT, CCL, ZEN
2:31 pm Friday, June 24th, 2022
One of today’s biggest movers in the market is ToughBuilt (NASDAQ:TBLT). At today’s peak, shares of TBLT stock more than doubled, trading on extremely heavy volume. As of the time of writing, this stock is still up more than 70% as the market continues to rebound nicely this week. Aside from macro factors driving the whole market higher, ToughBuilt has one key company-specific catalyst investors appear to be watching. This week, the manufacturer and distributor of various tools and accessories for the construction industry announced the closing of a $6 million public offering.
Carnival (NYSE:CCL) stock is rising higher on Friday following the release of its Q2 earnings report. Specifically, the big news today is revenue of $2.4 billion for the period. Although that comes in below the $2.61 billion Wall Street had expected, investors are still excited about it. That might seem strange at first. However, Carnival’s revenue increased 50% compared to Q1 2022. This sharp spike in revenue growth appears to be renewing faith in CCL stock today.
Shares of Zendesk (NYSE:ZEN) are up 30% today after the company confirmed it will be acquired for $77.50 a share in cash, or $10.2 billion. That represents a 34% premium to where ZEN stock finished trading yesterday. Media reports say San Francisco-based Zendesk has agreed to be acquired by a group of buyout firms led by Hellman & Friedman and Permira. ZEN stock was as up as much as 50% in premarket trading today before the acquisition and its terms were confirmed by Zendesk.
