Asian Stock Markets Start New Year Higher as Tech and AI Shares Drive Gains 
Wall Street Ends Mixed as Tech and Financial Stocks Weigh on Markets Amid Thin Holiday Trading 
Lynas Rare Earths Shares Surge as Quarterly Revenue Jumps on Strong Prices 
Trump Signs Executive Order to Limit Wall Street Investment in Single-Family Homes 
Apple Stock Jumps as Company Prepares Major Siri AI Chatbot Upgrade 
China Manufacturing PMI Rebounds in December, Offering Boost to Economic Growth Outlook 
U.S. Dollar Steadies Ahead of Fed Minutes as Markets Eye Policy Divisions 
Citi Forecasts a Volatile but Ongoing Bull Market for S&P 500 in 2026 
Nvidia CEO Jensen Huang Plans China Visit Amid AI Chip Market Uncertainty 
FSU Criticizes ANZ Over Suncorp Bank Job Cuts Amid Post-Acquisition Commitments 
U.S. Stock Futures Slip as Year-End Trading Turns Cautious 
FAA Says It Is Not Blocking Boeing 737 MAX 7 and MAX 10 Certification 
South Korea Factory Activity Returns to Growth in December on Export Rebound 
USDA $12 Billion Farm Aid Program Draws Mixed Reactions from Row Crop Farmers 
Singapore GDP Growth Surges in 2025 but Outlook Remains Cautious Amid Global Trade Risks 
Asian Currencies Trade Flat as Dollar Weakens in Thin New Year Trading 
Crocs Inc. revealed this week that it will acquire Hey Dude Shoes for $2.5 billion. Based on the report, the Broomfield, Colorado headquartered foam clogs maker is buying the shoe company as it wants to take advantage of the growing demand for casual shoes.
According to Reuters, many people ditched their dress shoes and went for the more comfortable footwear; thus, clogs and casual shoemakers suddenly received piles of orders. The pandemic pushed people to stay indoors, so the majority now prefer comfortable overalls from clothes to footwear.
As a result, companies like Crocs have steady orders, and the demand remained strong throughout this year. Now, to take advantage of the momentum, Crocs is acquiring Hey Dude to sell comfortable shoes alongside its popular foam clogs.
The company will be investing $2.5 billion and is paying $2.05 billion in cash, and the remaining $450 million will be paid in Crocs shares that will be issued to Alessandro Rosano, founder, and chief executive officer of Hey Dude Shoes.
"With the acquisition of HEY DUDE, we are thrilled to add another high-growth, highly profitable brand to our portfolio. We believe HEY DUDE's casual, comfortable, and lightweight products are aligned to long-term consumer trends and are a perfect fit for Crocs," Crocs CEO, Andrew Rees, said in a press release.
He went on to say, "We intend to leverage our global presence, best-in-class marketing and scale infrastructure to build upon HEY DUDE's strong foundation and create significant shareholder value. We truly admire the business that founder Alessandro Rosano has built and are honored to welcome the HEY DUDE team to Crocs."
Meanwhile, CNBC reported there are investors who are not in favor of Crocs' decision to buy Hey Dude Shoes, but Rees defended the move after the company's shares stumbled.15% in early trade. The chief explained that the purchase could push sales growth, especially in the United States Northeast and urban areas.
Crocs is also looking to expand its portfolio to include more shoes and other products beyond the rubber clogs. The company will adhere to what they are best known for when creating new items, and it is comfort which is also the trend these days.
