Pay Attention to These 4 Rumors Going Around Wall Street
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Traders were back to their selling ways on Thursday, as the S&P 500 slipped another 2.1%. Despite the selling pressure, several rumors made their way across Wall Street today. Below we highlight a few of them:
1. Cano Health (NYSE: CANO) was back in the rumors mill on word the auction of the company is in the second round. Humana and CVS are rumored suitors for the company and some analysts think the stock could be worth $14 per share in a sale. Shares of CANO fell 1.9% today.
2. A source told StreetInsider.com that the price being discussed for DXC Technology (NYSE: DXC) is around $45 per share, or a more than 80% premium to today's close. A least one private equity firm is said in talks to acquire the company and DXC is said to be working with bankers on a possible deal. Shares of DXC rose 2.5% today.
3. Rumors swirled that the private equity takeover of Tenneco (NYSE: TEN) could be in some jeopardy after banks reportedly shelved the bond sale for the Brightspeed LBO, backed by Apollo-managed funds ( NYSE: APO). The suitor for Tenneco is also Apollo. Shares of TEN closed down 3.7%.
4. Word spread that Meta Platforms (NASDAQ: META) announced it will freeze hiring and restructure some teams to cut costs and shift priorities, according to Bloomberg News. Shares of META closed down 3.7% today.
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By StreetInsider.com Staff
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