Alaska Air Group Inc (ALK)

Shares of Alaska Air Group Inc. Stock (ALK) dropped by 14.22% from $39.73 to $34.08 in the trading on Monday, December 04, 2023. The reason why ALK is down today is due to the company's announcement of a $1.9 billion acquisition deal with the parent company of Hawaiian Airlines. This acquisition deal led to opposite movements in the stock prices of the two companies involved. Hawaiian Holdings (HA) saw a significant 182.59% increase, while Alaska Air Group (ALK) plummeted by 14.22% during the same time frame. Despite the substantial premium offered for Hawaiian Airlines, Alaska's acquisition of the company is strategically sound. Alaska's offer of $18 per share in cash represents a 270% premium over Hawaiian's Friday closing price. However, this valuation translates to just 0.7 times revenue, including assumed debt. In short, the deal raised mixed reaction among investors, leading to a decline in stock's price.

Alaska Air Group, Inc. (ALK) fell 9.66% to $48.18 after the company reported second-quarter financial results and issued guidance for third quarter and FY23.

https://www.benzinga.com/news/23/07/33370813/a-look-into-vertex-pharmaceuticals-incs-price-over-earnings