Take a look at some of the biggest drivers in the currency markets:
Splunk (SPLK) – Cisco system (CSCO) has made a bid to acquire more than $20 billion for the cloud software company, according to people familiar with the matter who spoke to The Wall Street Journal. A deal of this size would represent the network equipment maker’s largest-ever acquisition. Splunk rose 7.9% in money markets, while shares of Cisco fell 1%.
Slat (BX) – The private equity firm has completed a $6.3 billion deal to buy Australian casino operator Crown Resorts. Shareholders are expected to vote on the transaction in the second quarter, and the transaction also requires regulatory approval. Blackstone fell 2.6% in the currency market.
Aerojet Rocketdyne (AJRD) – Defense contractor Lockheed Martin (LMT) has abandoned a $4.4 billion deal to buy the rocket engine maker. Federal regulators sued to block the transaction in January, amid concerns that the combination would be uncompetitive. Aerojet Rocketdyne fell 2.2% in pre-market trading, while Lockheed Martin gained 0.5%.
Rivian (RIVN) – Soros Fund Management purchased nearly 20 million shares of the electric truck maker in the fourth quarter of 2021, according to the fund’s quarterly filings. The share was worth about $2 million at the time of purchase, but its value has since dropped to about $1.17 billion. Rivian fell 1.8% in pre-market trading.
Just Eat Takeaway (GRUB) – Just Eat Takeaway CEO Jitse Groen told a Dutch TV show that the food delivery company’s decision to delist its Nasdaq listing should not be taken as a sign that the company intends to sell its Grubhub unit. Groen said the delisting was a cost-cutting measure, but added the company was still looking at options for a US-based delivery service. Shares fell 1.3% in pre-market trading.
Eli Lilly (LLY) – Eli Lilly’s new Covid-19 antibody drug has been approved for emergency use by the Food and Drug Administration for use in adults and adolescents. The FDA placed restrictions on earlier Covid treatments after finding they were less effective against the omicron variant.
Tyson Foods (TSN) – Tyson was downgraded to “weight balance” by Barclays from “overweight” at Barclays on a valuation call, with shares of the meat and poultry producer up 12.4% in the week. this year. Barclays said it sees limited upside potential at current levels, with anticipation of strong quarterly results already priced in. Tyson fell 1.4% in the currency market.
Texas Instruments (TXN) – Shares of the chipmaker fell 1.4% in pre-market trading after Raymond James downgraded it to “market performing” from “better performing”. The company pointed to unforeseen details surrounding the increase in capital expenditure towards the end of the cycle.
