close
close

Merger-related stocks are rallying on the prospect of a friendlier deal climate under Trump

Merger-related stocks are rallying on Wednesday on hopes that the Trump administration will be more business-friendly than the Biden administration.

While financial stocks in general are surging, shares of Discover Financial and Capital One are among the biggest gainers, up 17.2% and 12.3%, respectively. Discover stock is the leading S&P 500 gainer on the day. Regulators have been closely scrutinizing their pending merger.

Meanwhile, shares of Capri Holdings are up about 4%. A judge late last month blocked the company's proposed merger with its handbag colleague Tapestry after the Federal Trade Commission sued to block the deal from going ahead. Tapestry plans to appeal the ruling.

You may also like...