On this episode of Stock Movers:
- Performance Food Group Co. (PFGC) is higher while US Foods Holding Corp. (USFD) is lower this morning on Bloomberg's report that Performance Food Group Co. has attracted takeover interest from US Foods Holding Corp., a potential deal that would create a food distribution company with combined sales of roughly $100 billion. Sources say Rosemont, Illinois-based US Foods has been evaluating an acquisition of Performance Food and expressed interest about a potential combination in recent months.
- Levi Strauss & Co. (LEVI) is rising this morning after it raised its revenue outlook, expecting sales growth to outweigh the effect of President Donald Trump’s tariffs. The company now sees revenue rising between 1% and 2% for the current fiscal year, and has slightly lowered its guidance for gross margin due to tariffs. Harmit Singh, chief financial and growth officer, attributed the company’s strong performance to its “laser focus” on the core Levi’s brand and its burgeoning direct-to-consumer strategy.
- Drone stocks including Red Cat Holdings (RCAT) and AeroVironment (AVAV) are rising after Defense Secretary Pete Hegseth issued a memo to fast track drone production and deployment, as well as requiring drone combat simulations across the military.