Stocks rose Monday even as comments from Federal Reserve officials tempered enthusiasm over just how soon interest rates might be lowered. The
rose 2.5% last week, pushing the winning streak for U.S. stocks to seven weeks.
was rising 27% to $50.05 after reaching an agreement to be acquired by
for $55 a share in cash or $14.9 billion including debt.
closed at $39.33 on Friday. The deal, if approved by regulators, is expected to close in the second or third quarter of next year.
has committed to maintaining U.S. Steel’s relationships with the United Steelworkers union, the companies said.
was down 1.3% following a report from The Wall Street Journal that said the technology giant would be halting sales of the Apple Watch in the coming days as it prepares to comply with a U.S. import ban.
said it was terminating its deal to acquire after design tools maker Figma for $20 billion.
rose 2%.
Advertisement – Scroll to Continue
Shares of
were sinking Monday 37% after the solar company issued a “going concern” warning on the heels of a potential default.
VF Corp
,
the parent company of Vans and The North Face, said a security breach it detected last week could have a “material impact” on its business. The stock declined 7.6%.
Gene-sequencing company
said it plans to sell Grail, its unit that makes cancer blood tests, after a federal appeals found the U.S. government had the right to challenge the $7.1 billion acquisition made in 2021.
said the divestiture will be made through a third-party sale or capital markets transaction with the goal of finalizing the terms by the end of the second quarter of 2024. Illumina shares rose 1.6%.
U.S.-listed shares of
were rising 6.3% after the Chinese electric-vehicle maker said it received a $2.2 billion investment from CYVN Holdings, an investment vehicle based in Abu Dhabi. The latest investment raises CYVN’s holding in
NIO
’s
Advertisement – Scroll to Continue
total issued and outstanding shares to 20.1%.
rose 3.3% after the producer of units that make electricity from hydrogen announced a partnership with
aimed at reducing carbon dioxide emissions.
was falling 1.8% to $43.19 after shares of the buy-now-pay-later operator were downgraded to Underweight from Equal Weight at
The price target was raised to $20 from $15.
was down 0.5% as shares of the ride-hailing app made their S&P 500 debut on Monday.
Jabil
,
down 0.8%, and
Advertisement – Scroll to Continue
off 0.3%, also joined the index on Monday.
Write to Joe Woelfel at joseph.woelfel@barrons.com
