Large Cap Gainers: GPN, GIS, KHC
4:07 pm Wednesday, September 08th, 2021
Global Payments Inc (NYSE: GPN) jumped 7% after the company announced an agreement to acquire MineralTree, a provider of accounts payable automation and business-to-business payments solutions, from an investor group for $500 mln in cash. Co expects MineralTree’s cloud native solutions to substantially expand co’s target addressable markets and provide significant incremental avenues for growth. Also announced a strategic alliance with Virgin Money.
General Mills, Inc. (NYSE: GIS) updated its FY22 targets; co now expects organic net sales to grow toward the higher end of the prior range of down 1-3%, reflecting stronger-than-expected sales performance in Q1, while adj. operating profit and constant-currency adj. diluted EPS are each now expected to be toward the higher end of the prior ranges of down 2-4% and flat to down 2%, respectively, largely in connection with co’s recent pet treats acquisition.
Kraft Heinz Co (NASDAQ: KHC) today presented at the Barclays Global Consumer Staples Conference, discussing progress that it is making against its transformation plan. Co continues to expected to deliver 2021 adj. EBITDA ahead of $6.1 bln.