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Stock Market & Financial Investment News

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February 21, 2014
10:12 EDTUNF, CTASUniFirst, Cintas rally after reportedly dropping out of conference
Shares of UniFirst (UNF) and Cintas (CTAS) are moving higher after The Deal reported yesterday that both companies have dropped out of next week's Business Solutions conference held by Baird, according to Bloomberg. Cintas attributed its absence to travel problems while UniFirst confirmed it won't be going to the conference but declined further comment, Bloomberg cites The Deal as reporting. Cintas has a market capitalization over $7B while UniFirst's market cap is just above $2B, leading to speculation that Cintas may acquire UniFirst. Shares of UniFirst are up 5% to $113.90 in early trading while Cintas shares are up 3% to $60.86.
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