Stock Alert: Edgewell Personal Care Shares Rally On Merger Breakup, Q1 Results

(RTTNews) - Shares of Edgewell Personal Care Co. (EPC) are up more than 20% from yesterday's close of $30.48.The stock rally comes after Edgewell terminated its $1.37 billion merger agreement with Harry's, Inc., and announced plans to pursue a standalone value creation strategy.

The Razor maker said it backed off the deal, after the FTC filed a lawsuit to block the proposed merger. The company said it did not want to be distracted by a continuing court battle. Market welcomed the move by pushing the stock up by more than 20%.

The company also announced Q1 results today, with adjusted eps coming in at 55 cents on revenues of $454 million. Analysts were modeling eps of 29 cents and revenues of 445.9 million.