Closing Bell: PTC Rallies on Deal, SpaceX Gains, CH Robinson Sinks

Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Scarlet Fu, Carol Massar and Norah Mulinda
- PTC (PTC) shares are rallying as Schneider Electric agreed to buy PTC for about $22.6 billion in an all-cash deal to tap into the artificial-intelligence boom.

- Elon Musk’s SpaceX (SPCX) is proposing to build a natural gas pipeline in Florida to deliver fuel for its Starship rockets launched from Cape Canaveral. The pipeline would serve SpaceX facilities and meet the company’s growing need for gas, which it liquefies to use as rocket fuel. SpaceX uses methane, the primary component in natural gas, in liquid form as a propellant for its Starship rockets and currently receives trucked deliveries of liquefied natural gas. Also, shares gained 5.1% after Morgan Stanley analysts say Elon Musk’s satellite, space and AI conglomerate is one of the cheapest ways to play “the strong optionality” of the space and intelligence economy.

- CH Robinson Worldwide (CHRW) shares fall 13%, the most intraday since late July, after the freight broker announced an agreement to acquire peer RXO in a stock-and-cash deal valued at about $5.8 billion. RXO shares jump 22%, the most intraday since June 2024. The deal represents a 29% premium to RXO’s closing price on Friday. BI analyst Lee Klaskow writes that the purchase combines the No. 1 and 3 brokers and furthers Robinson’s position as the largest North American broker by revenue

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