This post was originally published on this site
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 (NASDAQ:HZNP) surged 30% after hours after it confirmed that it is engaged in highly preliminary discussions with Amgen (NASDAQ:AMGN), Janssen Global Services, LLC (NYSE:JNJ) and Sanofi (NASDAQ:SNY) which may or may not lead to an offer being made for the entire share capital of the Company.
Fidelity National Information Services Inc (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 $4.4 billion acquisition of Howden. “While the likelihood may be modest, serious consideration should occur,” the analysts added.
Want to get this news first? Upgrade to InvestingPro for real-time market coverage.
