Diamonds and Dogs
Merger Monday. Hostess Brands (TWNK) is jumping 19% JM Smucker confirmed they will pay $5.6 billion in cash and shares for the maker of Twinkies snack cakes, adding to the Jif peanut butter maker's portfolio of packaged-food brands.
Raytheon (RTX) taking a hit down 7% after the defense company said its profit would take a as they recall hundreds of Pratt & Whitney jet engines over the next several years. Raytheon said it would remove about 600 to 700 Pratt engines for inspection over the next three years, as a result of a previously disclosed issue, which was related to the powder metal used to make certain parts.
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