Twitter, Westrock, Ford, McDonald's and Tyco are among the most highly active stocks on Monday's trade in New York. Twitter and Westrock had to experience a decline while McDonald's and Tyco gained.
ABC News reported that Twitter down 82 cents to $17.02 and WestRock Co., down $5.63 to $32.11, following concern of WestRock sales performance. Ford Motor Co, also dropped, along with Chesapeake Energy Corp and other oil and energy companies.
Meanwhile Tyco International and McDonald's Corp. were up. The news regarding Tyco deal with Johnson Controls have surge its price on Monday. While sales growth of McDonalds Corp. also increase market confidence to the company's stock.
Johnson Controls Inc agreed to acquire Tyco International Plc for a $16.5 billion in cash and stock. Johnson Controls is a maker of car batteries, heating and ventilation equipments based in United States. The deal will lower Johnson Controls tax bill, because Tyco is an Ireland-based peer company. Tyco was one the first U.S. company that moved its operation outside U.S. to Switzerland, before resided in Cork, Ireland in 2014.
Other U.S. companies planning to move outside the contry is Pfizer in a deal with Allergan. The exodus of U.S. companies outside American soil have provided a good issue for Democratic presidential candidate to boost their popularity. Bernie Sanders critized the deal as a disaster for American taxpayers. In respond to the Johnson Controls plan, Hillary Clinton issued her statement as quoted by Reuters, "I have a detailed and targeted plan to immediately put a stop to inversions and invest in the U.S., block deals like Johnson Controls and Tyco, and place an 'exit tax' on corporations that leave the country to lower their tax bill."
Meanwhile, the news regarding departure of key executives has tumbled the share of Twitter Inc. Media head Katie Jacobs Stanton and product head Kevin Weil was reported by Re/Code to leave the San Fransisco-based company on Sunday. As a result, the company's shares dropped after Monday's trade closing bell, which attended by actress Bridget Moynahan and Hole In The Wall gang camp.
In the automotive sectors, Ford Motors Co. decision to withdraw from Japan and Indonesia market resultis in a sharp drop in the company's stock. For years, the American car maker has struggled to increase sales in Asia. However, a market condition made the company to be less efficient than its Asian competitors in the market. The decision to pull out from Japan and Indonesia was declared on Monday, and the company shares plunged by 1.32% following the announcement.
Ford Motors, Twitter and Westrock are among the shares that stumbled on Monday's trade. While strong sales for McDonald's and Tyco deal with Johnson Control has surged both companies' shares. Overall, U.S. stock market is still under pressure.
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