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Stocks - ConAgra, Pinnacle Foods Tumble in Pre-Market, WWE Surges

Investing.com
stocks - ConAgra, Pinnacle Foods tumble in pre-market, WWE surges
stocks - ConAgra, Pinnacle Foods tumble in pre-market, WWE surges

Investing.com - Stocks in focus in pre-market trade Wednesday:

• Pinnacle Foods (PF) stock sank 3.39% by 8:20 AM ET (12:20 GMT) after ConAgra (CAG) confirmed it would acquire the firm in a deal valued at about $10.9 billion including debt. Under the agreement, shareholders will receive $43.11 per share in cash and 0.6494 shares of ConAgra's common stock for each share of Pinnacle. ConAgra tumbled 5.8%.

• WWE stock skyrocketed 10.33% after announcing with USA network a five-year extension for its program Monday Night Raw.

• Teva (TEVA) stock gained 0.59% as Citi added it to its U.S. Focus List in place of Mylan (MYL), citing a positive outlook for earnings.

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• Sonic (SONC) stock crashed 7.38% after fiscal third quarter revenue missed consensus.

• AeroVironment (AVAV) slumped 8.32% as the firm forecast 2019 fiscal year revenue of $290 million to $310 million, falling short of analyst estimates for $337 million.

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