SeaDrill Ltd. SDRL, +1.23% stock is up 2.2% in premarket trades after it closed its acquisition of Aquadrill, which was backed by activist shareholder Elliott Management. As part of the deal, Elliott Management received about 9.3% of SeaDrill’s stock, according to filings. SeaDrill announced the all-stock deal with a value of $958 million on Dec. …
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Embattled home goods retailer Bed Bath & Beyond Inc. BBBY, -7.96% has announced a new vendor consignment program with ReStore Capital as the company attempts to boost its inventory. Under the terms of the third-party agreement, ReStore Capital will purchase up to $120 million, on a revolving basis at any given time, of pre-arranged merchandise from Bed …
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Liminal Biosciences Inc.’s stock LMNL, -4.23% soared 91% in premarket trade Wednesday, after the company said it’s received an unsolicited takeover offer of $7.50 a share from Structured Alpha LP. That company already owns 64% of the outstanding stock and is now bidding for the rest. The stock closed Tuesday at $3.62. Liminal specializes in …
Johnson & Johnson’s JNJ, +1.05% decision to pay up to $8.9 billion over 25 years to settle claims connected with cosmetic-talc litigation is a positive for the stock as it removes the overhang of negative headlines, JP Morgan analysts said Wednesday. “A settlement could significantly accelerate the timeline for talc litigation resolution relative to ongoing …
Philip Morris International Inc. PM, -0.37% said Wednesday it’s making progress toward its 2025 goal of being a smoke-free company and that it intends to transform into a broader lifestyle, consumer wellness and healthcare company over time. In its fourth annual integrated report, the tobacco company reiterated that it’s focusing its resources on developing and …
Major U.S. stock indexes fell on Tuesday, with the Dow and S&P 500 both snapping a 4-session win streak, as economic data showed more signs of a sputtering U.S. economy. The Dow Jones Industrial Average DJIA, -0.59% fell about 198 points, or 0.6%, ending near 33,403, while the S&P 500 index SPX, -0.58% shed 0.6% …
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Johnson & Johnson JNJ, +1.05% stock rose nearly 3% in the extended session Tuesday after the company said it was setting aside $8.9 billion to settle claims connected with cosmetic-talc litigation. Johnson & Johnson said that its subsidiary LTL Management LLC, which manages the legal wrangling, has re-filed for voluntary Chapter 11 bankruptcy protection in …
U.S. oil futures settled higher for a fourth session in a row on Tuesday, at their highest since January, with prices continuing to find support after Sunday’s surprise OPEC+ decision to cut production by more than 1 million barrels a day, on top of output reductions already in place. The announced cuts will turn the …
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Investors appear to be reconsidering the risk that the U.S. economy could be about to tip into a recession, following Tuesday’s data which revealed the red-hot labor market is finally loosening up. That data showed job openings fell to a 21-month low of 9.9 million in February, down from a revised 10.6 million for the …
Gold futures climbed on Tuesday to settle at their highest in more than a year, buoyed by weakness in the U.S. dollar and Treasury yields following a monthly decline in U.S. job openings. A lower U.S. dollar and Treasury yields all point to the Federal Reserve “taking a pause…on the inflation fight as they deal …
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