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Why DuPont and Rogers Stocks Blasted Higher This Week

Why DuPont and Rogers Stocks Blasted Higher This Week

Stocks in boring sectors like chemicals don't often surge double digits within days, but DuPont de Nemours (NYSE: DD) proved an exception this week, soaring -- and pulling shares of Rogers (NYSE: ROG) along with it -- thanks to a massive deal. According to data from S&P Global Market Intelligence, DuPont shares closed Friday up 15.6% for the week, while Rogers gained 34% this week. On Nov. 2, both DuPont and Rogers announced quarterly numbers alongside an agreement that took many by surprise: DuPont struck a deal to acquire Rogers for $5.2 billion, representing a 33% premium over Rogers' closing price on Nov. 1.