10 Stocks Crushing Market Expectations

6. BRF S.A. (NYSE:BRFS)

BRF snapped a three-day losing streak on Monday, jumping 7.58 percent to close at $3.83 apiece as investors repositioned portfolios following the end of the 21-day suspension of a shareholder meeting where a merger deal is expected to be voted.

It can be recalled that BRF S.A. (NYSE:BRFS) originally scheduled a shareholder meeting on June 18 to vote on its planned merger with Marfrig and adopt the new name, MBRF Global Foods Company.

However, the meeting was postponed after the Brazilian Securities Commission (CVM) received two requests regarding the shareholder meeting—one to call off and one to postpone.

The securities watchdog said it rejected the request to completely cancel the meeting, citing a lack of reason to justify the action. However, it granted the request to postpone the meeting for a 21-day period.

The proposed merger has already gained the approval of the antitrust authority in Brazil.

Marfrig is the majority stakeholder of BRF S.A. (NYSE:BRFS), with both firms sharing the same chairman.