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3 Stocks to Watch on Tuesday: Nike Inc (NKE), Tupperware Brands Corporation (TUP) and VeriFone Systems Inc (PAY)

U.S. equities were surging on Monday as they experienced a late-day gain. The S&P 500 Index gained 0.3%, the Dow Jones Industrial Average edged up 0.2% and the Nasdaq Composite was up 0.5% by day’s end.

3 Stocks to Watch on Tuesday: Nike Inc (NKE), Tupperware Brands Corporation (TUP) and VeriFone Systems Inc (PAY)It was a day of mergers and acquisitions as Nike Inc (NYSE:NKE) and VeriFone Systems Inc (NYSE:PAY) both had buyout news after hours, while Tupperware Brands Corporation (NYSE:TUP) revised its guidance.

Here’s what you should know:

Nike Inc (NKE)

Nike shares were moving higher as the company announced a tech acquisition.

The athletic apparel company said it bought Invertex Ltd., a Tel Aviv-based computer vision firm that should help the company strengthen its digital technology platforms. The move will help Nike innovate in its industry.

“The acquisition of Invertex will deepen our bench of digital talent and further our capabilities in computer vision and artificial intelligence as we create the most compelling Nike consumer experience at every touch point,” says Nike Chief Digital Officer, Adam Sussman.

David Bleicher, CEO of Invertex, said: “Nike’s connection to and understanding of their consumer is unsurpassed and we look forward to joining their team to help drive the Consumer Direct Offense.”

NKE stock gained about 1.2% after the bell Monday.

Tupperware Brands Corporation (TUP)

Tupperware Brands revised its guidance, but shares were unchanged late Monday.

The company announced that for its first quarter, it now expects revenue to fall by 2% compared to the year-ago quarter, down from the low end of its previous guidance of a 1% gain. It also sees earnings at 87 cents to 92 cents per share, below its previous outlook of $1.01 to $1.06 per share.

Tupperware said that it will offer investors a more complete update to its expectations when it releases earnings April 25 before the bell. A number of factors affected the company’s lower quarterly results, including a 6% per share impact from U.S. tax reform and customer service issues in Europe.

TUP shares were trading flat after hours.

VeriFone Systems Inc (PAY)

VeriFone Systems’ shares were soaring as the company announced that it is being acquired.

The payments technology services provider announced Monday that it’s agreed to be taken private by an investor group that’s being led by Francisco Partners. The deal is worth $2.58 billion in cash.

VeriFone Systems added that the deal was valued at a total of $3.4 billion, which includes debt, and that the transaction is slated to be completed during the third quarter of this year. Part of the merger conditions are a “go-shop” period, which paves the way for the company’s board and advisers to ponder alternative offers through May 24.

The group that is buying the company includes Canadian institutional investor British Columbia Investment Management Corp. The equity value of the deal is based on 112.2 million outstanding diluted shares as of Jan. 31, according to the company’s regulatory filing.

PAY stock skyrocketed 51.3% after the bell yesterday.

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2018/04/3-stocks-watch-tuesday-nike-inc-nke-tupperware-brands-corporation-tup-verifone-systems-inc-pay/.

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