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Dow futures were down 31.5 points (0.15%) before the opening bell after Emmanuel Macron won the French election.
Earnings season is still in full swing, making it one of the biggest factors moving the markets today. However, buyout announcements will also move the markets today.
Here are the three top stocks to watch today and why they are in focus today…
Top Stocks to Watch Today: Tyson Foods Inc. (NYSE: TSN)
Tyson stock is down 2.7% in early morning trading after announcing disappointing earnings.
The food company announced Q2 net income of $0.92, which is down from last year's Q2 net income of $1.02.
Adjusted EPS also came in just below expectations. The company announced EPS of $1.01, while analysts expected $1.02.
Revenue was down from last year's $9.17 billion, coming in at $9.08 billion. However, this beat analysts' expectation of $9.07 billion.
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TSN stock is currently trading at $63.33 for a gain of 2.7% so far this year.
Top Stocks to Watch Today: Kate Spade & Co. (NYSE: KATE)
Kate Spade stock is up 8.4% in early morning trading after Coach Inc. (NYSE: COH) announced it will buy the high-end retailer.
Back in February, Kate Spade announced it was exploring "strategic alternatives" in its Q4 earnings.
Today, the company announced that Coach will buy all outstanding shares of Kate Spade for $18.50 ($2.4 billion), funded by cash on hand and debt.
The deal is expected to close by the end of the third quarter.
KATE stock is trading at $16.97 for a loss of 9.1% year to date (YTD).
Top Stocks to Watch Today: Straight Path Communications Inc. (NYSEMKT: STRP)
Straight Path stock is up 27.7% in early morning trading after announcing it received a buyout bid that was better than the AT&T Inc. (NYSE: T) bid.
The communications company was offered a bid of $184 per share ($3.1 billion) from an undisclosed "multinational telecommunications company." The bid is almost double AT&T's bid of $95.63 per share ($1.6 billion).
AT&T now has until 11:59 p.m. on Wednesday (May 10) to meet or exceed the new bid. If the AT&T buyout does not occur, Straight Path will owe AT&T $38 million in termination fees.
STRP is currently trading at $161.49 for a gain of 376.2% YTD.
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