Stocks edged lower Tuesday as traders watch developments in China around protests over the county's 'zero Covid' policy. Amid the downside action, several rumors swirled around Wall Street. Below we highlight a few:

Horizon Therapeutics plc (Nasdaq: HZNP) surged 30% after hours after it confirmed that it is engaged in highly preliminary discussions with Amgen Inc. (NYSE: AMGN), Janssen Global Services, LLC (NYSE: JNJ) and Sanofi (NYSE: SNY) which may or may not lead to an offer being made for the entire share capital of the Company.

FIS (NYSE: FIS) gained 3% after analysts at Bernstein said the company was a good fit for an activist investor. The analysts see value creation from a potential divestiture of its merchant business, something an activist could push for.

Chart Industries (NYSE: GTLS) gained over 2% after analysts at Citi said Halliburton Company (NYSE: HAL) should take a large equity stake in the company as Chart needs cash to fund the recently announced $4.4B acquisition of Howden. "While the likelihood may be modest, serious consideration should occur," the analysts added.

By StreetInsider.com Staff

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