Rumors Buzzing Around Wall Street Today

Stocks were heavy Monday as positive economic data stirred concerns the Fed will have to maintain its hawkishness on rates. Amid the downside, several rumors swirled around Wall Street. Below we highlighted a couple:

Horizon Therapeutics (NASDAQ: HZNP) fell nearly 6% after Janssen Global Services, a unit of Johnson & Johnson (NYSE: JNJ), confirmed that it does not intend to make an offer for Horizon. These leaves two remaining bidders - Amgen Inc (NYSE: AMGN) and Sanofi (NYSE: SNY).

Job cut rumors were rampant on Monday with reports PepsiCo (NASDAQ: PEP) will layoff hundreds at its North American headquarters, GameStop (NYSE: GME) is starting a round of layoffs, and Pinterest (NASDAQ: PINS) is cutting its recruiting team and slowing hiring.

By StreetInsider.com Staff

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