Why Owens Corning Stock Rocked the Market This Week

Owens Corning stock surged nearly 11% during a holiday-shortened trading week following reports that industry peer Carlisle made unsolicited acquisition bids valued at over $10 billion. The offers consisted of a mix of cash and stock, though Owens Corning has not substantially engaged with the suitor. The company may be holding out for a higher price or waiting for its recent business strategy changes to take effect before evaluating its future.