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Cisco notched its worst day in five months after unveiling the largest takeover in its history.
Splunk is being acquired by Cisco for $157 per share -- a 31% premium from yesterday's close. The deal still requires regulatory and shareholder approval, but is expected to close by the end of the third quarter of 2024.
Splunk (NASDAQ: SPLK ) stock is soaring higher on Thursday following news of an acquisition deal with Cisco (NASDAQ: CSCO ). This is massive news for holders of SPLK stock as Cisco intends to pay $28 billion in cash for the company.
URBN, SPLK and JOB made it to the Zacks Rank #1 (Strong Buy) growth stocks list on September 21, 2023.
Here is how Splunk (SPLK) and Uber Technologies (UBER) have performed compared to their sector so far this year.
JOB, OPCH and SPLK made it to the Zacks Rank #1 (Strong Buy) growth stocks list on September 19, 2023.
STRL, SPLK and URBN made it to the Zacks Rank #1 (Strong Buy) growth stocks list on September 11, 2023.
Splunk's stock price has jumped around 40% this year after reporting strong Q2 results and raising its guidance for the year. The company continues to grow cloud ARR at a >20% y/y pace, while executing well in a tough sales environment. At the same time, management has sliced opex spending, allowing the company to dramatically boost its margin performance.
JOB, SPLK and URBN made it to the Zacks Rank #1 (Strong Buy) growth stocks list on September 7, 2023.
JOB, SPLK and URBN made it to the Zacks Rank #1 (Strong Buy) growth stocks list on September 5, 2023.