Looming lockdowns and rising geopolitical tensions are also keeping a lid on bullish activity. European equity markets opened mostly higher following a mixed session in Asia. Gold is lower, Bitcoin is lower, and oil is leveling.
|16,057.44 (+0.40%)||4,697.96 (-0.14%)||57,235.79 (-2.69%)|
Here’s the latest news on Monday’s trending stocks:
US private equity giant KKR (NYSE: KKR) offered $12bn to buy Telecom Italia (BIT: TIT). Vivendi owns 24% of Telecom Italia and is likely to see this offer as too low. Speculators see this as the beginning of a fight to control the Italian landline network.
Ericsson (STO: ERICB) is to acquire Vonage (NASDAQ: VG) for $21/share in cash or $6.2bn (SEK55.47bn) total.
India’s Paytm (NSE: PAYTM) continued its share price plummet following last week’s IPO flop. It’s now fallen 30%.
The rumor mill has Monster Beverage (NASDAQ: MNST) exploring a potential combination with Constellation Brands (NYSE: STZ).
Nvidia (NASDAQ: NVDA) stock hit an all-time high after positive earnings last week. It’s been described as the new Tesla (NASDAQ: TSLA) complete with a cult following. Nvidia’s simulation technology is faster and less expensive than carrying out real-world experiments giving investors confidence in its long-term trajectory. The firm also has its sights firmly set on powering the metaverse.
Nvidia's ARM acquisition may not fly. ARM is considered a crown jewel of the UK technology sector but was bought by Japan's Softbank in 2016 and is now looking to be sold to Nvidia. The deal faces opposition and regulatory investigation. It’s now believed the deal with Nvidia is unlikely to go through.
Levi Strauss (NYSE: LEVI) has seen denim sales boosted by pent-up demand.
High Tide (CVE: HITI) continues expansion into the global CBD market with the acquisition of Colorado-based NuLeaf Naturals.
Activision Blizzard (NASDAQ: ATVI) is showing signs of premarket gains as a report in The Wall Street Journal claims CEO Kotick May Quit if issues are not quickly resolved.
FAT Brands (NASDAQ: FAT) agrees to acquire Native Grill & Wings for $20m.
In crypto news, El Salvador is planning to build a Bitcoin city at the base of Conchagua volcano