Chronicle Journal: Finance

Bullish Stocks Trading Near Their All-Time Highs: $TFII $WMGI $RXT

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TFI International To Acquire APPS Transport Group

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TFI International Inc. (NYSE:TFII) is trading at $43.69 near its all-time high of $46.09. The has entered a definitive strategic agreement for the acquisition of Intermodal truckload and less-than-truckload carrier APPS Transport Group. APP which was established in 1985 in Mississauga, Ontario offers less-than-truckload, truckload, distribution, and warehousing as well as specialized logistic services across Canada. With over CA$100 million in revenue annually, APPS will offer synergy and growth opportunities in Canada.

Also, the company has announced the closing of a $219 million marketed offering of its common stock in Canada and the US. The company issued 5.06 million shares that include 0.66 shares in underwriters" over-allotment option.

DJO Global To Acquired Wright Medical's Subsidiary Colfax

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Wright Medical Group (NASDAQ:WMGI) is also another bullish stock currently trading at $30.45 close to its all-time high of $32.86. Stryker has disclosed that in conjunction with the UK and US antitrust reviews of around $4 billion acquisition of Wright Medical subsidiary Colfax, DJO Global has been proposed to be the buyer of the proposed divesture. In a US SEC filing, Stryker highlighted a publication by the UK CMA greenlighting DJO Global as the ideal buyer of Stryker's total ankle replacement unit and associated assets.

The agreement seems to remove a regulatory hurdle from UK CMA which has confirmed that the proposed divesture meets concerns that could have prompted a second phase investigation of the deal.

Rackspace Technology Reports Record Quarterly Bookings In Q2 2020

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Another bullish looking stock is Rackspace Technology, Inc. (NASDAQ:RXT) which is trading at $19016 near its all-time high of $22.75. GitLab has selected the company to drive faster application development on Google Cloud. This comes as GitLab seeks enhanced support and better service thus it moved its software as a service offering to the Rackspace managed Google Cloud platform.

Rackspace has announced its Q2 2020 financial results in which there was a 9% YoY increase in revenue of $657 million and a net loss of $33 million or $0.20 per share. The company's net bookings in the quarter were up 107% YoY to $288 million. Adjusted EBITDA was $188 million.

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