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The top stocks to watch today (Thursday) include restaurant company Bob Evans Farms Inc. (Nasdaq: BOBE), holding company Johnson & Johnson (NYSE: JNJ), and automobile manufacturer Fiat Chrysler Automobiles NV (NYSE: FCAU).
The Dow hit and closed above 20,000 yesterday for the first time in history. Dow futures point to another early gain of 0.2% today. Earnings reports and M&A news will continue to be the biggest market movers today.
Here are three top stocks to watch today…
Stocks to Watch Today: Bob Evans Farms Inc. (Nasdaq: BOBE)
Bob Evans stock is up 20% this morning after it announced it will sell off its restaurants and acquire Pineland Farms Potato Co.
The sale of its restaurants is a $565 million deal with Golden Gate Capital, a private-equity firm. The purchase of Pineland Farms Potato Co. is worth $115 million.
The duel deal strategy is to sell mature parts of the Bob Evans business and invest that capital into faster-growing parts of the company.
BOBE stock is currently trading at $57.94, a gain of 8.9% year to date (YTD).
Stocks to Watch Today: Johnson & Johnson (NYSE: JNJ)
The buyout is for $30 billion and is an all cash offer. The deal gives Johnson & Johnson an avenue to increase its presence in the biotech treatments sector.
Actelion's R&D department will be spun off into its own entity and will remain in Switzerland. Johnson & Johnson will have a 16% stake in the spin-off.
JNJ stock is currently trading at $112.80, down 2.1% YTD.
Stocks to Watch Today: Fiat Chrysler Automobiles NV (NYSE: FCAU)
Fiat Chrysler stock is up 2.4% in pre-market trading after announcing it will halve its net debt this year.
The company is working on a turnaround plan that will be revealed at the end of the year. Unloading debt is seen as a large component of getting the company back on solid footing.
With the pending suit against Fiat Chrysler for installing a program to help vehicles sidestep deasil emissions regulations, it will be important to have a lower debt load in order to pay the fines that are inevitably coming.
FCAU stock is currently trading at $10.98, up 20.39% YTD.
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- Forbes: Bob Evans to Sell Restaurants
- USA Today: Johnson & Johnson to Acquire Actelion Ltd
- Yahoo Finance: Fiat Chrysler to Slash Debt