3 Rumors Lighting Up Trading Screens Today
- Wall Street ends higher, notches weekly gains as Fed meeting looms
- Intel pares losses but sheds $9 billion in value on dire outlook, dividend concerns
- Analysts rush to cut Intel (INTC) price targets following weaker than expected Q1 guidance
- Lucid Group (LCID) doubles on Saudi rumors
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Stocks ripped higher after Fed Chairman Jay Powell said the Fed may slow rate hikes at the next meeting, pushing the Nasdaq up 4.4%, the S&P 500 up 3.1%, and the Dow up 2.2%. The Dow is now in a new bull market, up 20% from the lows. Amid the bullishness, several rumors swirled around Wall Street. Below we highlighted a few:
Radius Global Infrastructure, Inc. (NASDAQ: RADI) gained over 25% after Bloomberg reported that EQT is in talks to acquire the company. Today's news follows a StreetInsider.com report from earlier in the month that Stonepeak was also evaluating a takeover of the company.
Aerojet Rocketdyne (NYSE: AJRD) gained over 4% after Reuters reported that General Electric (NYSE: GE), L3Harris Technologies (NYSE: LHX), Textron (NYSE: TXT), and Veritas Capital vying to acquire the company.
Following news on Tuesday that Horizon Therapeutics (NASDAQ: HZNP) was in "highly preliminary" with three large pharma companies, analysts weighed in on the takeover prospects and potential takeover price. Several analysts see the stock worth between up to $140 per share in a takeover.
By StreetInsider.com Staff
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