Performance Foods Merger Report; Drone Stocks Higher; Warner Bros

Stock Movers

On this episode of Stock Movers:
- Performance Food Group Co. (PFGC) is higher 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.
- US Foods Holding Corp. (USFD) is lower this morning on the merger news with PFGC. Shares of US Foods have risen more than 50% over the past 12 months, giving the company a market value of $18.6 billion. Performance Food has a market capitalization of $14.1 billion. US Foods supplies restaurants, hospitals, schools and hotels, generating revenue of $37.9 billion last year. The company employs about 30,000 people in more than 70 locations, according to its website. Performance Food offers similar services in the US and Canada across three units: restaurant supplier Performance Foodservice, candy and snack distributor Vistar and its Core-Mark business serving convenience stores.
- Drone stocks are climbing higher, 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.
- Warner Bros Discovery Inc. (WBD) shares are moving on Superman hitting theaters as it looks to revive the comic book movie franchise that Warner Bros. Owns.

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