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Stocks edged lower on Monday but finished the month sharply higher, with the Dow rising 14% in October. Amid today’s downside action, several rumors drove trading action in select stocks. Below we highlighted a couple:
After selling off 18% on Friday following weak results, Edwards Lifesciences (NYSE:EW) gained over 2% on Monday on vague trading floor rumors Johnson & Johnson (NYSE:JNJ) could again be looking at the company amid the drop. Nothing appears imminent.
Wynn Resorts Ltd (NASDAQ:WYNN) gained 10% after billionaire Tilman Fertitta disclosed owning a 6.1% stake in the casino operator. There is speculation Fertitta may attempt to merge his casino assets with Wynn, which he tried unsuccessfully to do with Caesars Entertainment (NASDAQ:CZR) in 2018.
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