Arctic Cat Inc. (NASDAQ:ACAT) [Trend Analysis] try to make new thrust in street and making different trends, stocks trading ended with -0.46% to $13.09. The defense contractor Textron is buying the snowmobile maker Arctic Cat (acat) in a deal valued at about $247 million. Textron said Wednesday that it will pay $18.50 per Arctic Cat share, a 41 percent premium to its Tuesday closing price. The transaction also includes debt, though no exact figure was provided.
Arctic Cat Inc. will be folded into Textron’s specialized vehicles business, but the brand, as well as its manufacturing, distribution and operational facilities, will be maintained. The Minneapolis company employs around 1,600 people. Arctic Cat CEO Christopher Metz said the tie up will benefit consumers, dealers and employees. Arctic Cat’s board has unanimously authorized the deal, and shares spiked 40 percent before the opening bell. The share price of ACAT attracts active investors, as stock price of week volatility recorded 3.64%. The stock is going forward to its 52-week low with 47.08% and lagging behind from its 52-week high price with -33.96%.
Apple Inc. (NASDAQ:AAPL) [Trend Analysis] attempts to attain leading position in street, Shares price changes as it -0.09% to close at $119.97 with the total traded volume of 23.19 Million shares. Senior officials of the US-based iPhone maker Apple on Tuesday called upon Commerce and Industry Minister NirmalaSitharaman. The meeting assumes significance as the technology giant is seeking concessions like duty exemptions to set up its manufacturing unit in India.
“The meeting lasted for 40 minutes. There were three officials from the company, including the company’s Global Vice President PriyaBalasubramaniam,” sources said. The company executives will on Wednesday meet a group of senior officials from different ministries on their demands.
In a communication to the government, the Cupertino-based technology major has asked for several tax and other incentives, including long-term duty exemptions, to enter the manufacturing sector in India. The firm has institutional ownership of 60.70%, while insider ownership included 0.10%. Its price to sales ratio ended at 2.92. AAPL attains analyst recommendation of 1.90 with week’s performance of -0.02%.