Pay Attention to These 4 Rumors Going Around Wall Street
By Investing.com Staff
Traders were back to their selling ways on Thursday, as the slipped another 2.1%. Despite the selling pressure, several rumors made their way across Wall Street today. Below we highlight a few of them:
1. Cano Health Inc (NYSE:) was back in the rumor mill on word the auction of the company is in the second round. Humana (NYSE:) and CVS Health Corp (NYSE:) are rumored suitors for the company and some analysts think the stock could be worth $14 per share in a sale. Shares of CANO fell 1.9% today.
2. A source told Investing.com that the price being discussed for DXC Technology Co (NYSE:) is around $45 per share, or a more than 80% premium to today’s close. A least one private equity firm is said to be in talks to acquire the company and DXC is said to be working with bankers on a possible deal. Shares of DXC rose 2.5% today.
3. Rumors swirled that the private equity takeover of Tenneco Inc (NYSE:) could be in some jeopardy after banks reportedly shelved the bond sale for the Brightspeed LBO, backed by Apollo-managed funds (NYSE:). The suitor for Tenneco is also Apollo. Shares of TEN closed down 3.7%.
4. Word spread that Meta Platforms Inc (NASDAQ:) announced it will freeze hiring and restructure some teams to cut costs and shift priorities, according to Bloomberg News. Shares of META closed down 3.7% today.
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