2 Rumors Swirling Around Wall Street Today

Stocks closed lower for the second straight session on worries the Fed would continue its hawkish rhetoric amid today's JOLTs jobs data which showed U.S. job openings unexpectedly rose in September. Despite the weakness, several rumors drove trading action in select names today. Below we highlighted a couple:

Nutanix (NASDAQ: NTNX) gained 2.8% on renewed takeover speculation with Hewlett Packard Enterprise (NYSE: HPE) mentioned as a possible suitor. In October, the WSJ reported the company is exploring a sale amid takeover interest. Private equity has been seen as leading the hunt given Bain Capital's current stake and board seats. However, significant stockholder Legion Partners has urged the company to find a strategic buyer. "Given Nutanix’s unique position and current industry dynamics, in our view, a strategic buyer would be the ideal partner for the Company," Legion Partners said in an October letter to the company.

China-based stocks gained on rumors China is planning to gradually exit its Covid Zero policies. Alibaba (NYSE: BABA) rose 3.6%, JD.com, Inc. (NASDAQ: JD) gained 3%, and Baidu, Inc. (NASDAQ: BIDU) gained 2.2%, among others.

By StreetInsider.com Staff

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