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Stocks continued to grind higher today on continued hopes that the Fed will soon start to slow interest rate increases. Amid the gains, several rumors swirled around Wall Street. Below we highlighted a few:
Aerojet Rocketdyne (NYSE:AJRD) gained nearly 5% following reports from Reuters the company is soliciting takeover offers. This follows news in February that the company’s deal to be acquired by Lockheed Martin (NYSE:LMT) was blocked by antitrust regulators.
Microchip Technology (NASDAQ:MCHP) jumped 3% on rumors it could be the target of an activist investor. The rumors were highlighted amid the accumulation of the stock by a broker known for working on behalf of activists.
Elon Musk reportedly told debt bankers that he plans to close the acquisition of Twitter Inc (NYSE:TWTR) on Friday. Shares gained 2.5%.
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