Stocks (^DJI, ^GSPC, ^IXIC, ^RUT) are taking a bit of a pause after putting in a solidly bullish week. Markets are little changed with low volume on a slow news day and the shortened trading week. Keith Bliss of Cuttone and Co. joins us from the floor of the NYSE to talk about today’s trading.
To discuss some of the other stories Yahoo Finance is keeping an eye on today, Alexis Christoforous is joined by Yahoo Finance editor-in-chief Andy Serwer and Yahoo Finance’s markets correspondent Nicole Sinclair.
Bill Ackman named to Valeant board
Beleaguered hedge fund titan Bill Ackman wanted more control of Valeant Pharmaceuticals (VRX)—and he just got it—but probably not in the way he wanted it to go down. After losing 75% of its share price this year, Valeant announced this morning that CEO Mike Pearson would be stepping down and that Ackman will get a board seat. Will it be enough to save Ackman’s Pershing Square funds?
Merger Monday: Deals top $37B in 24 hours
And is it just another Merger Monday? After a slow start to 2016, more than $37 billion in deals have been announced over the past 24 hours. Sherwin-Williams (SHW) revealed an $11.3 billion deal to buy rival Valspar (VAL),financial data firm Markit (MRKT) announced a $13 billion merger with IHS (IRS),and Marriott (MAR) increased its offer to buy Starwood (STWD) to $13.6 billion.
Is China Zuckerberg’s ultimate long game?
Finally, Facebook (FB) is stepping up its courtship with China. Mark Zukerberg held a meeting with China’s propaganda chief in which they reportedly discussed “internet development.” This comes as China introduces new regulations to police social media. What will it take to open social media to a billion-plus people?
- Investment & Company Information
- Bill Ackman
- Alexis Christoforous