Keurig Dr. Pepper Slides, Roblox Climbs, Alphabet Hits Record High

On this episode of Stock Movers:

- Keurig Dr. Pepper (KDP) shares slid as investors consider the news over the weekend that the company agreed to buy JDE Peet’s NV for €15.7 billion ($18.4 billion) to bolster its struggling coffee business before kicking off a split of its operations. The company will pay €31.85 a share in cash for the Dutch firm, a 20% premium over its closing price on Aug. 22, according to a statement Monday. Keurig Dr Pepper plans to separate its coffee and soft drinks units into two independent, US-listed companies next year once the deal is completed.

- Roblox (RBLX) shares jumped as much as 8.5% on Monday, the most intraday since late July, as Wedbush defends the stock amid legal threats. Analyst Alicia Reese says she views Roblox as the most compelling growth opportunity in the video game sector: “We expect some ongoing volatility in Roblox’s share price when new hit pieces or legal action surface; however, Roblox continues to be quick to respond, with meaningful actions it has taken and plans to create a safe and engaging environment across its age cohorts.”

- Alphabet (GOOGL) gained 1.2% today and closed at a record high. This extends a rally from last week off news that Apple is in early talks to use Google’s Gemini to power a revamped Siri, a potential step toward outsourcing more AI technology.

See omnystudio.com/listener for privacy information.