Shares of Twitter (TWTR) rose sharply in trading on Thursday due to renewed speculation that the company would be bought by another company, but no proof of such a proposal has yet to emerge. The company has been the subject of many such rumors over the past few years, with a least one company (Disney) expressing potential interest in a merger. However, Twitter has yet to be taken over, but keep an eye on the stock for further potential volatility. TWTR closed up +4.25% to settle at 22.58.
Shares of Finisar (FNSR), a communications equipment company, rose sharply after it was reported that Apple had invested $390M into the company through Apple’s Advanced Manufacturing Fund. The purpose of the fund is to advance development of technologies for Apple’s suppliers. As such, the investment is not an equity investment into FNSR, and thus shares may retrace significantly from current prices. However, the expectation from Apple clearly is that its investment will result in profits exceeding the investment. Also, Apple’s investment essentially reduces FNSR’s research and development costs. Either way, expect volatility to follow. FNSR shares closed at 23.70, up 22.80% for the session.
Shares of Perrigo (PRGO) were volatile in trading on Tuesday due to a rumor that an activist investor has taken a stake in the company. PRGO is a pharmaceutical company based in Ireland. The identity of the rumored activist investor has neither been mentioned or an actual stake confirmed. Shares of PRGO closed even for the session at 85.92 after trading above 87.00 after the rumor hit. Keep an eye on the stock for further developments.
Shares of Apple (AAPL) rose in trading on Monday as the company confirmed that it will acquire the popular Shazam application. Shazam is a smartphone application that allows users to identify songs, movies, and other media simply by turning on the app while audio can be heard of the media that the user is seeking to identify. It has proven to be a very useful application and allows users to quickly identify songs they hear on a radio broadcast that they do not recognize. AAPL will pay $400M for the acquisition. AAPL shares closed up +1.95% to settle at 172.67.
Shares of Qualcomm (QCOM) were volatile in trading on Friday after it was reported that Microsoft and Google voiced concerns over Broadcom’s proposed buyout of QCOM. Microsoft and Google both suggested that Broadcom might interfere with Qualcomm’s 5G wireless internet investment. Concern was also voiced that Apple has potential influence over the Broadcom takeover proposal and that this could therefore benefit Apple. QCOM shares closed down -1.52% to settle at 64.24. Keep an eye on QCOM as this story is still developing.
Shares of L3 Technologies (LLL) were volatile in trading on Thursday after news that the company was possibly being investigated by the Department of Defense Inspector General’s criminal investigative division is examining allegations that LLL may have had an improper relationship with the U.S. Air Force’s Big Safari program. However, previous reports stated that the Government Accountability Office found no wrongdoing in the sale of surveillance aircraft to Kenya. LLL shares closed at 193.62, down -0.52% after dropping as low as -1.8%.
Shares of Disney (DIS) were volatile in trading on Wednesday after it was reported that current CEO Robert Iger’s tenure at the company will likely be extended past 2019. The news apparently has been interpreted as negative by traders, as DIS shares slumped farther down after the news. At present, this report has not been confirmed. DIS shares closed down -1.54% to settle at 105.46.
Shares of 21st Century Fox (FOXA) were volatile in trading on Tuesday due to rumors that a potential deal could be reached between FOXA and Disney this month. The two companies have been in merger talks for some time now, with Disney looking to purchase FOXA’s content. However, no conclusive deal has yet been reached. FOXA shares closed at 32.99 after trading as high as 34.48. Keep an eye on the stock for further developments to this story.
Shares of Mastercard (MA) slumped in trading on Monday, ending the day down -4.18% to settle at 143.43. However, after regular hours trading, the company reported that it had reached an agreement with the board of directors to begin a new $4B share repurchase program. This is to begin after the previous $4B repurchase program is completed. Currently, there is about $1.5B in share repurchases still remaining from the previous share repurchase agreement. Keep an eye on the MA tomorrow as movement is likely.
Shares of Aetna Insurance Company (AET) rose towards the end of trading on Friday after it was reported that CVS Retail Pharmacy Company was very close to making a deal to buyout AET. As previously reported, CVS was pursuing buying AET in a move perceived as a way for the company to defend its business from the expected competition from Amazon. The deal was finalized over this weekend, with CVS agreeing to pay $69B for AET. AET shares are up in premarket trading by around +3.00% over their close on Friday at 181.31. Keep an eye on the stock for the Monday session.