Kenvue Soars on M&A; Dell and Iren jump on Deal; MMC Downgrade

On this episode of Stock Movers:
- Kenvue (KVUE) is soaring while Kimberly-Clark (KMB) is lower on news Kimberly-Clark agreed to buy the consumer health company in a cash and stock deal at an enterprise value of about $48.7 billion. Kimberly-Clark shares slump as much as 16% before the bell. Kenvue holders to get $3.50 per share in cash and 0.14625 Kimberly-Clark shares per Kenvue share
- Dell (DELL) is rising as Iren announced it signed a five-year GPU cloud services contract with Microsoft (MSFT) valued at about $9.7 billion, and that it also entered into a $5.8 billion agreement with Dell Technologies (DELL) to purchase GPUs and related equipment. Iren (IREN) is jumping on the news as well.
- Marsh & McClenon (MMC) is lower after Bank of America Global Research cut the recommendation on Marsh & McLennan to underperform from neutral. The price target is set to $181, implying a 1.6% increase from last price.

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