Market Overview

Monday's Major Stock Movers

Hertz (NYSE: HTZ) traded up over 9% on Monday after the company announced that it would be acquiring Dollar Thrifty for $87.50. Hertz said that it expected to see cost synergies amounting to at least $160 million.

Tiffany's (NYSE: TIF) reported its second-quarter earnings results on Monday and lowered its guidance for the full-year. Despite the miss, shares traded up nearly 8% as the report may have proven to be less negative than anticipated.

Valero (NYSE: VLO) traded up almost 5% on Monday after the firm was upgraded at Simmons & Co to Overweight from Neutral. Various refinery shutdowns could have also affected the name.

Donaldson (NYSE: DCI) also saw a decent rally on Monday, as shares moved up as much almost 5%. The company reported earnings that fell largely in-line and provided decent guidance.

M&T Bank Corp (NYSE: MTB) traded up about 4.5% after the company announced that it would merge with Hudson City Bancorp (NASDAQ: HCBK). For its part, Hudson City rallied sharply higher, up over 15%.

Posted-In: News Intraday Update Movers

 

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