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TopGainers - NutriSystem, Grubhub and Kratos Rally as Wall Street Rebounds

Stock MarketsDec 10, 2018 03:07PM ET
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Investing.com - NutriSystem, Grubhub and Kratos Defense and Security climbed into the close Monday, underpinning a rebound in the broader market.

Diet plan company NutriSystem (NASDAQ:NTRI) soared 28% after accepting a takeover bid from fitness and health company Tivity Health (NASDAQ:TVTY) in cash and shares deal worth $1.3 billion.

The deal valued NurtriSystem at about $47 a share, more than 30% above Friday's closing price of $34.20.

Food delivery platform Grubhub (NYSE:GRUB) piqued investor appetite, rising 5% after Wall Street turned bullish on the stock. Based on its own restaurant supply trend checks, Guggenheim raised its 2019 revenue expectations on Grubhub to $1.5 billion.

The delivery service company has ramped up investment spending to execute on its plan to build out its delivery network ahead of its full Yum! Brands (NYSE:YUM) partnership rollout.

Kratos Defense & Security Solutions (NASDAQ:KTOS) climbed 7% after President Donald Trump reportedly agreed to increase the defense budget to $750 billion for the upcoming year, reversing plans to cut Defense spending, Politico reported.

Goldman Sachs said it expected multiple years of growth in the Department of Defense budget, which bodes well for Defense stocks including Kratos.

TopGainers - NutriSystem, Grubhub and Kratos Rally as Wall Street Rebounds
 

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