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Stocks

“Macy’s shares surge 21% after it receives $5.8 billion buyout offer”

“Arkhouse Management and Brigade Capital Management have offered to buy Macy’s for $5.8 billion, people familiar with the matter told CNBC on Sunday. The offer values the retailer at $21 per share, according to the sources. Macy’s closed at just over $17… Continue Reading…

Business

“GM offers 10% wage hike in contract talks that UAW calls ‘insulting'”

“General Motors on Thursday made a counterproposal to the union representing its U.S. hourly workers in a bid to avoid a costly strike, but United Auto Workers President Shawn Fain called the offer “insulting.” The largest U.S. automaker said it… Continue Reading…

Business

“Johnson & Johnson to reduce its Kenvue stake by at least 80% through exchange offer”

“Johnson & Johnson on Monday said it plans to reduce by at least 80% its stake in Kenvue, the consumer health business it spun out as an independent company earlier this year, via a stock exchange offer. J&J owns 89.6% of Kenvue’s common stock, which amounts… Continue Reading…

Business, Stocks

“Elon Musk offers to buy Twitter for $43 billion, so it can be ‘transformed as private company’”

“Elon Musk offered to buy Twitter for $54.20 a share in a filing published Thursday, saying the social media company needs to be transformed privately, a little over a week after first revealing a 9.2% stake in the company. Musk’s offer values… Continue Reading…

Stocks

“GameStop to Offer Up to $1 Billion in Shares; Stock Declines”

“GameStop Corp. fell early on Monday after the company said it may sell up to $1 billion worth of additional shares in an at-the-market equity offering program. Shares of the video game retailer declined more than 15% to $160.96 as… Continue Reading…

Stocks

“Time to Bottom Fish? Top Analyst Offers 3 Stocks to Buy”

“Smartsheet, Inc. (SMAR)… Overall, SMAR’s Moderate Buy consensus rating is based on 9 Buys and 4 Holds set in recent days. The stock is selling for $45 and the average price target of $60.54 suggests room for 32.5% upside growth… New… Continue Reading…

Business, Stocks

“Ambani’s Reliance to Offer $20 Billion Stake in Retail Arm to Amazon”

“Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. is offering to sell a roughly $20 billion stake in its retail business to Amazon.com Inc., according to a person with knowledge of the matter. Amazon has held discussions about investing in the… Continue Reading…

Banking, Economy

“Fed says it will offer an additional $500 billion in overnight repo funding markets”

“In a mid-day announcement, the New York Fed said it willconduct a $500 billion repo operation this afternoon, another move targeted at keeping money flowing through the system. Repo involves banks putting up high-quality collateral like Treasurys in exchange for… Continue Reading…

Economy, Stocks

“Hong Kong Stock Market Retracts Offer to Buy London Exchange”

“Hong Kong’s stock exchange will no longer proceed with its nearly $37 billion offer to buy its London competitor, it announced on Tuesday morning, in a setback for the exchange’s long-running effort to build a closer connection to European markets…” https://www.nytimes.com/2019/10/07/business/hong-kong-london-stock-exchange.html