The S&P 500’s top gainers on February 12 were:
CSRA, which provides IT services to US government clients, was the S&P 500’s top gainer on February 12. After declining for two consecutive trading weeks, CSRA regained strength and started this week on a stronger note. On Monday, CSRA opened the day higher and closed at record-high price levels.
The buying pressure increased on Monday following the acquisition news. General Dynamics (GD), which is an American aerospace and defense multinational corporation, is acquiring CSRA for close to $9.6 billion. The acquisition includes an all-cash transaction for CSRA shares at $40.75 per share and an assumed debt of $2.8 billion. According to General Dynamics, the acquisition will make the combined company the top provider of high-tech government IT solutions with a combined revenue of $9.9 billion.
On February 12, CSRA gained 31.1% and closed the day at $40.39. CSRA is part of the S&P 500 Information Technology sector, which gained 1.8% on Monday. General Dynamics declined 1.2% and closed the day at $209.53.
Next, we’ll discuss how the S&P 500’s top losers performed on February 12.