The markets were higher again today as the Santa Claus rally seems to be in full force. The Dow 30 closed up 140, the S&P 500 added 14, and the Nasdaq 100 added 58, hitting 7000 for the first time. All the major indices hit new record highs again today.
Tax reform is the big focus this week with many optimistic that the new bill will get to the finish line. There is still much more debate to be had before the vote which is expected as late as this Friday.
Twitter (NASDAQ: TWTR) shares popped to a new high today, adding 11.02% after an upgrade to Overweight at JPMorgan. Analysts were bullish on the recent, improved product features and daily active user growth which they feel strongly will drive revenue. After a rough start to the year the stock is now higher by almost 50%.
Hershey (NYSE: HSY) is just another name to add to the list of companies buying up competition. Hershey announced that it is buying Amplify Snack Brands (NASDAQ: BETR), the owner of SkinnyPop popcorn, in a deal worth $1.6 billion Shares of Amplify were higher by 71.57% today after struggling to impress investors since their IPO. Now Hershey will take their shot at making the company a profitable venture.
Campbell Soup (NYSE: CPB) confirmed they are looking to buy Snyder's Lance (NASDAQ: LNCE). The deal which was reported last week is now officially worth about $5 billion in all cash. Snyder's is most widely known for its Cape Cod chips and Snyder's pretzels. Shares of Snyder's were up another 6.95% today, closing around the purchase price of $50 per share.