Cano Health, Oak Street stocks rally following WSJ report about Amazon’s reported interest in buying Signify Health

Shares of Cano Health Inc. CANO, +15.87%, which provides primary care to seniors, soared 17.6% in trading on Monday, while shares of Oak Street Health Inc. OSH, +4.59%, another medical provider for people covered by Medicare, jumped 3.5%. Amazon Inc. AMZN, -3.09%, CVS Health Corp. CVS, -1.49%, and UnitedHealth Group UNH, -0.51% are reportedly in a bidding war to buy Signify Health Inc. SGFY, +32.45%, a home-health provider, according to a report in The Wall Street Journal. Signify’s stock rallied 36.6% on Monday. Experts have predicted more M&A activity for companies that are looking to build out their primary care and medical care businesses following Amazon’s $3.9 billion acquisition in July of One Medical, a direct primary care company that is operated by 1Life Healthcare Inc. ONEM, +0.38%. Cano CEO Marlon Hernandez told investors earlier this summer that the company is “open to considering all strategic alternatives that allow us to accelerate value creation.”