Construction Partners, Lumen Technologies, Viad Corp And Other Big Stocks Moving Higher On Monday
Portfolio Pulse from Avi Kapoor
Several US-listed stocks saw significant gains on Monday. Construction Partners, Inc. (NASDAQ:ROAD) rose 11.1% after announcing FY25 revenue above estimates and an acquisition. Viad Corp (NYSE:VVI) climbed 16.5% following a deal to sell its GES business. Lumen Technologies, Inc. (NYSE:LUMN) gained 3.7% due to a partnership with Meta.
October 21, 2024 | 2:22 pm
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Lumen Technologies, Inc. gained 3.7% after announcing a partnership with Meta to enhance Meta's network capacity and support its AI ambitions.
The partnership with Meta is a strategic move for Lumen Technologies, likely to enhance its market position and drive short-term stock price gains.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Construction Partners, Inc. shares surged 11.1% after announcing FY25 revenue above estimates and the acquisition of Asphalt Inc for $654 million in cash and 3 million in class A common stock.
The sharp rise in Construction Partners' stock is due to positive revenue guidance and a strategic acquisition, both of which are likely to boost investor confidence and drive the stock price higher in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Viad Corp shares climbed 16.5% after announcing a deal to sell its GES business to Truelink Capital for $535 million.
The sale of the GES business is a significant move for Viad Corp, likely improving its financial position and leading to a positive short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100