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10 stories mentioning LEG

Every FINWIRES story that references LEG, newest first.

Sectors

Sector Update: Consumer Stocks Advance Premarket Thursday

Consumer stocks were advancing premarket Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 1.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 1% higher.Amazon.com (AMZN) shares were up more than 1% after the company said it will invest over 10 billion euros ($11.63 billion) to upgrade European fulfillment centers with new robotics while adding 25,000 regional positions.Global-e (GLBE) stock was up more than 2% after the company said its board has approved a new share repurchase program to buy back up to $500 million of its ordinary stock.Somnigroup International (SGI) shares were up more than 1% after the company said the mandatory 30-day waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for its planned merger with Leggett & Platt (LEG) has expired.

$AMZN$GLBE$LEG$SGI$XLP$XLY
Wire

Leggett & Platt Keeps Quarterly Dividend at $0.05 a Share, Payable July 15 to Shareholders of Record on June 15

Leggett & Platt Keeps Quarterly Dividend at $0.05 a Share, Payable July 15 to Shareholders of Record on June 15

$LEG
Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 0.5%.In corporate news, Williams-Sonoma (WSM) shares rose 2.2% after Goldman Sachs upgraded the stock to buy from neutral and raised its price target to $218 per share from $185.Lululemon Athletica (LULU) is being investigated in Texas over the potential presence of PFAS, or forever chemicals, in its activewear products, the office of Texas Attorney General Ken Paxton said in a statement. Lululemon shares fell 1%.Somnigroup International (SGI) has agreed to acquire bedding and furniture components maker Leggett & Platt (LEG) in an all-stock deal worth about $2.5 billion. Somnigroup shares rose 2.1%, and Leggett & Platt jumped 12%.Delaware Court of Chancery Vice Chancellor Bonnie David said Monday that she supports Tesla (TSLA) shareholders' vote to have litigation pertaining to alleged corporate wrongdoing by Chief Executive Elon Musk take place in Texas, Bloomberg reported. Tesla shares were up 0.7%.

$LEG$LULU$SGI$TSLA$WSM
Sectors

Sector Update: Consumer Stocks Mixed Monday Afternoon

Consumer stocks were mixed Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) dropping 1.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 0.6%.In corporate news, Lululemon Athletica (LULU) is being investigated in Texas over the potential presence of PFAS, or forever chemicals, in its activewear products, the office of Texas Attorney General Ken Paxton said in a statement. Lululemon shares were fractionally lower.Somnigroup International (SGI) has agreed to acquire bedding and furniture components maker Leggett & Platt (LEG) in an all-stock deal worth about $2.5 billion. Somnigroup shares rose 2.8%, and Leggett & Platt jumped 13%.Delaware Court of Chancery Vice Chancellor Bonnie David said Monday that she supports Tesla (TSLA) shareholders' vote to have litigation pertaining to alleged corporate wrongdoing by Chief Executive Elon Musk take place in Texas, Bloomberg reported. Tesla shares were up 1.5%.McDonald's (MCD) plans to roll out a new lineup of cold beverages in the US, including a Red Bull Dragonberry Energizer, The Wall Street Journal reported. The fast food giant's shares were down 0.5%.

$LEG$LULU$MCD$SGI$TSLA
Sectors

Sector Update: Consumer

Consumer stocks were mixed Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) dropping 1.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 0.4%.In corporate news, Somnigroup International (SGI) on Monday agreed to acquire bedding and furniture components maker Leggett & Platt (LEG) in an all-stock deal worth about $2.5 billion. Somnigroup shares rose 3%, and Leggett & Platt jumped 14%.

$LEG$SGI
Commodities

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Monday as Trump Prepares to Block Strait of Hormuz

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.7% and the actively traded Invesco QQQ Trust (QQQ) retreated 0.6% in Monday's premarket activity after US President Donald Trump said the US will block the Strait of Hormuz following unsuccessful negotiations with Iran over the weekend.US stock futures were also lower, with S&P 500 Index futures down 0.6%, Dow Jones Industrial Average futures slipping 1%, and Nasdaq futures retreating 0.7% before the start of regular trading.The existing home sales data for March will be released at 10 am ET.Federal Reserve Governor Stephen Miran is slated to speak on Monday.In premarket activity, bitcoin was down by 0.4%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 3.2% lower, Ether ETF (EETH) retreated 3.1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 0.1%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.3%, the Vanguard Health Care Index Fund (VHT) was up 0.1%, while the iShares US Healthcare ETF (IYH) gained 0.1%. The iShares Biotechnology ETF (IBB) was down 0.7%.Spyre Therapeutics (SYRE) stock was up more than 24% premarket after the company said that its SPY001 investigational drug to treat moderate-to-severely active ulcerative colitis met its primary and key secondary endpoints in a phase 2 trial.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.1% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated by 0.5%. The iShares US Consumer Staples ETF (IYK) was up 0.3%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.8%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.5% lower.Leggett & Platt (LEG) shares were up more than 8% pre-bell after Somnigroup International (SGI) agreed to acquire Leggett & Platt in an all-stock deal valued at about $2.50 billion. Somnigroup stock was down 1.7% premarket.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.9%, and the iShares US Technology ETF (IYW) was flat, while the iShares Expanded Tech Sector ETF (IGM) was down 1.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was 0.8% lower, while the iShares Semiconductor ETF (SOXX) declined by 1%.ON Semiconductor (ON) shares were up more than 3% in premarket activity after BofA Securities upgraded the company's stock to buy from neutral.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) fell by 1%. Direxion Daily Financial Bull 3X Shares (FAS) declined by 2.6%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 2.9% higher.Lloyds Banking Group (LYG) shares were down more than 2% pre-bell after the company said it is "moving forward" with the UK Financial Conduct Authority's motor finance redress scheme.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.7%, while the Vanguard Industrials Index Fund (VIS) fell 0.8% and the iShares US Industrials ETF (IYJ) was 0.4% lower.MDA Space (MDA) stock was up more than 1% before the opening bell after the company introduced a space control platform aimed at helping defense organizations monitor, protect, and secure critical space infrastructure.EnergyThe iShares US Energy ETF (IYE) was up 1.7%, while the State Street Energy Select Sector SPDR ETF (XLE) rose by 1.9%.Baker Hughes (BKR) stock was up more than 1% before Monday's opening bell after the company said it has signed a deal to sell its Waygate Technologies operations to Stockholm-based Hexagon for about $1.45 billion in cash.CommoditiesFront-month US West Texas Intermediate crude oil rose by 8% to $104.27 per barrel on the New York Mercantile Exchange. Natural gas advanced by 2.5% to $2.72 per 1 million British Thermal Units. The United States Oil Fund (USO) was up by 7.4%, while the United States Natural Gas Fund (UNG) was 1.9% higher.Gold futures for May were down by 1.2% at $4,728.90 an ounce on the Comex. Silver futures fell by 3.1% to $74.11 an ounce. SPDR Gold Shares (GLD) was 1% lower, and the iShares Silver Trust (SLV) advanced by 2.8%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$BKR$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$LEG$LYG$MDA$ON$PMR$QQQ$RTH$SGI$SLV$SOXX$SPY$SYRE$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Consumer Stocks Lean Lower Pre-Bell Monday

Consumer stocks were leaning lower pre-bell Monday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) declining by 0.6%.Somnigroup International (SGI) has agreed to acquire Leggett & Platt (LEG) in an all-stock deal valued at about $2.5 billion, the companies said. Leggett & Platt stock was up more than 8% and Somnigroup International shares were down more than 1% premarket.McDonald's (MCD) plans to roll out a new lineup of cold beverages in the US, including a Red Bull Dragonberry Energizer, The Wall Street Journal reported, citing company documents and people familiar with the matter. McDonald's shares were 0.1% lower pre-bell.JBS (JBS) has struck a new two-year collective bargaining agreement with workers at its Swift Beef plant in Colorado, according to statements on Sunday from the United Food and Commercial Workers Local 7 union and the company. JBS stock was down 0.2% premarket.

$JBS$LEG$MCD$SGI$XLP$XLY
Sectors

Sector Update: Consumer

Consumer stocks were leaning lower pre-bell Monday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) declining by 0.6%.Somnigroup International (SGI) has agreed to acquire Leggett & Platt (LEG) in an all-stock deal valued at about $2.5 billion, the companies said. Leggett & Platt stock was up more than 8% and Somnigroup International shares were down more than 1% premarket.

$LEG$SGI
US Markets

Somnigroup to Acquire Leggett & Platt in $2.5 Billion Deal

Somnigroup International (SGI) on Monday agreed to acquire bedding and furniture components maker Leggett & Platt (LEG) in an all-stock deal worth about $2.5 billion.Shareholders of Leggett & Platt will receive 0.1455 shares of Somnigroup for each share they own in the company, the firms said in a joint statement. Leggett & Platt investors will own about 9% of the combined company.Leggett & Platt's stock jumped nearly 9% in the most recent premarket activity, while Somnigroup declined 1.7%."Leggett & Platt's strong engineering capabilities, diversified end users and cash-generating financial profile meaningfully enhance our global platform," Somnigroup Chief Executive Scott Thompson said in the statement. Somnigroup anticipates the acquisition to expand its addressable markets in bedding and provide access to non-bedding industries.The transaction, which requires approval from Leggett & Platt's shareholders and clearance from regulators, is expected to complete by the end of the year. Following completion, Leggett & Platt will operate as a separate business unit within Somnigroup and maintain its offices in Carthage, Missouri."This transaction provides Leggett & Platt shareholders with the opportunity to participate in the future growth and value creation of a leading global company on a tax deferred basis," Leggett & Platt CEO Karl Glassman said. Glassman will continue to lead Leggett & Platt after the deal closes and will assist with a transition to a new CEO of the business unit within 12 months of completion.The combined company is expected to operate 175 manufacturing facilities across 36 countries, with a global workforce of more than 36,000 employees.Somnigroup and Leggett & Platt estimate the deal to be accretive to adjusted earnings on a per-share basis before synergies in the first year after completion. The companies also expect a positive impact of $50 million on adjusted earnings before interest, taxes, depreciation, and amortization on an annual run-rate basis.In February, Leggett & Platt reported adjusted EPS of $0.22 for the fourth quarter, up from $0.21 the year before. Sales dropped 11% on a yearly basis to $938.6 million. At the time, the company said it expected adjusted EPS to be in between $1 and $1.20 and sales to be in a range of $3.8 billion to $4 billion for 2026.

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Equities

Top Premarket Gainers

Sky Quarry (SKYQ) shares were up 48% in Monday premarket activity, continuing Friday's surge.Battalion Oil (BATL) stock was 32% higher, erasing the previous session's loss.Ideaya Biosciences (IDYA) shares were up 19% after the company said that its phase 2/3 registrational trial evaluating darovasertib in combination with crizotinib in patients with metastatic uveal melanoma met its primary endpoint.Leggett & Platt (LEG) stock was 7.2% higher after the company and Somnigroup International (SGI) said that Somnigroup has agreed to acquire Leggett & Platt in an all-stock transaction valued at about $2.50 billion.

$BATL$IDYA$LEG$SKYQ