US stocks took a bullish turn on Monday, setting the stage for an eventful week, especially with this morning's crucial inflation report on the horizon.
Here's a snapshot of the market highlights:
Macy’s Soars to New Heights: Macy's shares witnessed a staggering 19.5% surge following a $5.8 billion buyout
offer, valuing the department store giant at an impressive $21 per share. This potential deal could take Macy’s private, presenting a significant development in the retail landscape.
Cigna's Bold Moves: Cigna stock made waves with a remarkable 16.7% jump. The company canceled its deal to buy competitor Humana and, in a strategic move, increased its share buyback program by a substantial $10 billion.
Snap's Ascendancy: Wells Fargo analysts upgraded Snap, citing improving advertising trends. This propelled the social media company's shares up by 4.3%, reaching their highest level since July 2022. Exciting times for Snap enthusiasts!
Occidental Petroleum's Acquisition Spree: Occidental Petroleum made headlines with a 1% rise after announcing a $12 billion acquisition of oil and gas producer
CrownRock. A strategic move that's bound to impact the energy sector.
Consumer Inflation Expectations Dip: In economic news, consumer inflation expectations fell to 3.4% in November, marking the lowest level since April 2021. A pivotal insight into the economic landscape.
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