Here’s a look at some of the stocks the Yahoo Finance team will be tracking for you today.
Kraft Foods (KRFT) shares are surging in early trading as the company plans to merge with Heinz. The newly named Kraft Heinz Company will become the third-largest food and beverage company in North America. Kraft shareholders will receive a 49% stake and special cash dividends, while current Heinz shareholders will own a 51% stake in the company.
Kofax (KFX) shares are soaring ahead of the open. The software developer is being bought by printer maker Lexmark in a deal valued at about $1 billion or $11 a share in cash. The deal is expected to help Lexmark (LXK) nearly double its enterprise software business.
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Sonic (SONC) shares are on the move this morning. The nation's largest drive-in chain raised its outlook for the year after reporting earnings and revenue that topped analysts' estimates. Profits nearly doubled thanks to strong same-store sales growth as the company invested on technology upgrades and continued to roll out promotions.
Apollo Education (APOL) shares are falling in early trading. The for-profit education firm issuing a disappointing sales outlook for the year after reporting weaker-than-expected revenue in its fiscal second quarter. Sales fell 14% from a year earlier as student enrollment continued to decline. However, the company's loss for last quarter was narrower than expected.
