S&P 500 top movers: FLIR Systems Inc stock rises nearly 20% on Teledyne acquisition

  • S&P 500 dropped below 3,700 after opening at new all-time high.
  • FLIR Systems Inc (FLIR: NASDAQ) shares are up nearly 20% on Monday.
  • Teledyne Technologies Inc (TDY: NYSE) is posting large losses.

The S&P 500 Index (SPX) touched a new record high of 3,770 after the opening bell on Monday but reversed its direction amid souring market mood. As of writing, the SPX was down 1.75% on a daily basis at 3,690.

S&P 500 top movers

Earlier in the day, Teledyne Technologies Inc (TDY: NYSE) has announced that it will be acquiring FLIR Systems Inc (FLIR: NASDAQ) in a cash and stocks transaction valued at approximately $8 billion.

Following this development, FLIR surged higher and was last seen trading at $52.28, gaining 19.3% as the best performer of the day. On the other hand, TDY is the biggest percentage decliner on Monday, losing 7.65% at $362.

Among the other top gainers, L Brands Inc (LB: NYSE) and TechnipFMC PLC (FTI: NYSE) shares are up 8% and 5.5%, respectively.

Meanwhile, resurfacing coronavirus fears weigh on airline and cruise liner stocks at the start of the week. As of writing, 
Norwegian Cruise Line Holdings Ltd (NCLH: NYSE), Alaska Air Group Inc (ALK: NYSE) and Carnival Corp (CCL: NYSE) shares were down between 5% and 4.7%.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD: Focus on two-month-old support near 1.1750

EUR/USD remains pressured around three-week lows, consolidate the biggest daily fall in a month. Firmer Momentum back-up to the south-run, 50-DMA break favor sellers.


GBP/USD: Bulls and bears will battle this out near the 61.8% golden ratio

The GBP/USD price has corrected 50% of the hourly bearish impulse. The bulls have been chipping away as profits are taken with bears moving aside one by one. This has resulted in a slow decelerating correction from which could attract sellers again. 


EUR/USD: Focus on two-month-old support near 1.1750

EUR/USD remains pressured around three-week lows, consolidate the biggest daily fall in a month. Firmer Momentum back-up to the south-run, 50-DMA break favor sellers.


Ethereum Classic Price Prediction: ETC coils up for 40% upswing

Ethereum Classic price shows choppy action as it approaches the lower trendline of an ascending parallel channel. The $52.92 support floor is likely to be tagged before a 40% upswing originates. A decisive close below $48.41 will create a lower low, invaldiating the bullish thesis.

Read more

US Michigan Consumer Sentiment Preview: Markets will have to look hard for positive signs

Consumer outlook expected to rebound to 72.2 in September. August’s 70.2 was the lowest since December 2011. Inflation and Delta variant wearing on US optimism. Markets face negative dollar risk from fading consumer optimism.

Read more