AmerisourceBergen and TripAdvisor Rose on February 13
AmerisourceBergen (ABC), which is an American drug wholesale company, was among the S&P 500’s best performers on Tuesday. After declining for two consecutive trading weeks to eight-week low price levels, AmerisourceBergen started this week on a stable note. On Tuesday, AmerisourceBergen opened the day higher and closed the day at a ten-day high daily close.
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The buying pressure in AmerisourceBergen increased on Tuesday due to acquisition news. As reported by the Wall Street Journal, Walgreens, which is the second-largest pharmacy store chain in the US, is in the early stages of talks to acquire AmerisourceBergen. On February 13, AmerisourceBergen gained 9.3% and closed the day at $97.77. AmerisourceBergen is part of the S&P 500 healthcare sector, which gained 0.05% on Tuesday.
TripAdvisor (TRIP), which is an American travel and restaurant website company that provides hotel reviews and bookings, was among the S&P 500’s top gainers on February 13. After regaining strength last week and rising to the highest levels traded since October 2017, TripAdvisor started this week on a weaker note but regained strength on Tuesday.
The buying pressure in TripAdvisor increased in February amid increased speculations about a possible takeover. On Tuesday, the sentiment improved following a report from Wells Fargo. The report reiterated the “hold” rating with a target price of $33. With increased buying, TripAdvisor gained 5.8% and closed the day at $39.88. TripAdvisor is part of the S&P 500 consumer discretionary sector, which gained 0.51% on Tuesday.
Next, we’ll discuss how the S&P 500’s top losers performed on February 13.