Shares of Tesla (TSLA) spiked in early trading on Friday after it was reported that Walmart had pre-ordered 15 of Tesla’s electric tractor trailers. However, since the ultimate production of these vehicles is still to be solidified, the stock gradually shed most of its early gains for the session. Tesla is still dealing with production issues for its Model 3, so any expectations that the semi truck will reach the production stage in the near future seems a bit optimistic to the traders. TSLA shares closed up +0.82 to settle at 315.05.
Shares of Meredith Corporation (MDP) rose strongly in trading on Thursday due to a report that the Koch brothers were backing a proposed deal between Time Inc. and MDP. The deal would potentially have Time taken over by MDP, but a formal bid has not yet been submitted. Keep an eye on MDP as this story is developing. MDP shares closed up +10.51% to settle at 59.95.
Mattel (MAT) was approached by rival company Hasbro for a potential merger. However, MAT has rejected the proposal so far, stating that Hasbro did not offer a high enough buyout price. MAT has continued to rebuff merger attempts from Hasbro, and this suggests that the company is seeking to drive a hard bargain despite the fact the MAT shares have performed so poorly over the last 12 months. Keep an eye on MAT as a potential deal might be reached if Hasbro or another potential buyer offers the right price. MAT shares closed at 18.32, down -1.19%.
Shares of Archer Daniels Midland (ADM) were volatile in trading on Tuesday as rumors circulated that the company is a potential takeover target. The stock has not been mentioned as a potential buyout target recently, so this represents a relatively new development. However, after trading as high as 40.66 shortly after the rumor hit, the stock gradually gave up all its gains. ADM shares closed at 39.79, up +0.13%. Keep an eye on ADM for further news.
Shares of CVS Health Corp (CVS) were volatile in trading on Monday after is was reported that Amazon’s pharmacy licenses were not intended to be used to move the company into the distribution of prescription drugs, but rather into the sale of other health related products, such as medical devices. Previously, the markets were under the impression that Amazon intended to become a direct competitor to CVS in the drug distribution business. However, many still expect that Amazon will eventually move into this space once it has established a foothold in the overall healthcare industry. CVS shares spiked as high as over 73.00 per share before settling down at 71.48, up +0.17% for the session. Keep an eye on the stock for further developments.
Shares of Textron Aerospace and Defense Company (TXT) were moderately volatile in trading on Friday due to a rumor that the company is a potential takeover target. While shares initially reacted to this rumor by trading quickly higher, they ultimately returned back to the prevailing price range and settled at 54.27, down only -0.24%. Keep an eye on the stock are more rumors are likely.
Shares of Hertz Global Holdings (HTZ) rose sharply in after hours trading on Thursday after the company reported its Q3 earnings results. The company beat EPS $1.32 estimate with $1.42 adjusted EPS. Also, sales came in at $2.6B vs. $2.57B estimate. HTZ traded as high as +13.8% in post market trading. Keep an eye on the stock for further potential volatility.
Shares of Monsanto (MON) sunk in trading on Wednesday after an Arkansas regulatory body decided to bar the company’s latest weedkiller product for a second consecutive summer. The product is crucial for MON’s seed sales and has been an ongoing dispute for over a year now. In addition to these troubles, European regulators decided to push back review of the proposed Bayer-Monsanto merger to March 2018, setting back potential closing of the deal. MON shares closed down -1.81% to settle at 117.38 for the session. Keep an eye on the stock for further developments.
Shares of Wayfair Company (W) sank in trading on Tuesday after it was reported that Amazon is offering furniture brands. This marks yet another company impacted by the expansion of Amazon its own private label brands and services. W shares closed down -5.92% to finish at 60.26. Keep an eye on the stock for further developments.
Shares of Alkermes Company (ALKS) fell in trading on Monday after news that Senator Kamala Harris launched an investigation into the company’s treatment of opioid addiction. The investigation is seeking evidence to determine if ALKS artificially boosted its sales of Vivitrol, which is a drug used in treatment of opioid addiction. ALKS shares closed down -4.37% to settle at 48.76. Keep an eye on the stock as this situation is still developing.