12:54 PM EDT, 07/01/2024 (MT Newswires) -- (Corrects final paragraph to state that the managing director of Walgreens Boots Alliance's ( WBA ) subsidiary is stepping down.)
All three major US equity indexes were up at midday Monday, thanks to gains from the stocks of the giant technology companies.
In company news, Boeing ( BA ) agreed to acquire Spirit AeroSystems ( SPR ) in a deal worth $8.3 billion, including net debt. The all-stock deal is valued at $37.25 per Spirit share, or equity value of $4.7 billion. Separately, Boeing ( BA ) will be charged with criminal fraud over two fatal crashes of its 737 MAX planes and will be asked by the US Justice Department to plead guilty or face trial, Reuters reported Sunday. The proposed plea deal includes a $487.2 million penalty, half of which Boeing ( BA ) paid in a previous settlement. Boeing ( BA ) shares were up 3%, while Spirit stock was up nearly 4%.
Robinhood Markets (HOOD) said Monday it has acquired Pluto Capital, an AI-powered investment research platform, for an undisclosed sum. Pluto founder and Chief Executive Jacob Sansbury will stay on after acquisition. Robinhood shares were down 0.5%.
The Federal Trade Commission has opened an investigation into Teva Pharmaceutical Industries ( TEVA ) alleged refusal to remove roughly 24 patents for its asthma and chronic obstructive pulmonary disease inhalers, the Washington Post reported. Teva shares were up fractionally.
BlackRock ( BLK ) said Sunday it agreed to acquire Preqin, a private markets data provider, for 2.55 billion British pounds ($3.23 billion) in cash. The deal is expected to close before year-end. BlackRock ( BLK ) said it plans to combine Preqin's data and research tools with its other portfolio company Aladdin's eFront workflow systems. Separately, BlackRock ( BLK ) unit Climate Infrastructure is partnering with Alphabet's (GOOG) Google ( GOOG ) to support the development of a 1-gigawat pipeline of new solar capacity in Taiwan. Lastly, Saba Capital Management on Monday accused BlackRock ( BLK ) of rigging elections after BlackRock ( BLK ) reported that shareholders voted in favor of retaining its directors and management for four closed-end funds. Saba said BlackRock ( BLK ) misled shareholders by announcing results that excluded the votes of Saba and other supportive shareholders. BlackRock ( BLK ) shares were down 0.53%, while those of Alphabet were up 0.5%.
Chewy (CHWY) shares rallied past 16% premarket Monday after Keith Gill, the meme stock influencer known as "Roaring Kitty," disclosed his 6.6% stake in the company. Chewy shares were down 6.2% in midday trading.
Amazon.com's ( AMZN ) Amazon Web Services is among a group of tech companies attempting to secure deals to power AI data centers with nuclear energy, the Wall Street Journal reported. Amazon Web Services is in talks with Constellation Energy ( CEG ) . Amazon ( AMZN ) shares were up nearly 2%, while Constellation shares were up nearly 3%.
The European Commission has said it made a preliminary determination that Meta Platforms' ( META ) business model that allows users to opt out of giving up their personal information in exchange for a subscription fee does not comply with the Digital Markets Act. Separately, the US Supreme Court on Monday vacated two separate rulings from the US Court of Appeals, ordering the lower courts to take a second look at Florida and Texas laws that impose restrictions on how social media companies regulate their content. Meta shares were down nearly 1%.
The US Supreme Court on Monday ruled that a North Dakota convenience store and truck stop can sue over a 2011 rule dictating the charges that financial institutions can impose on merchants, overturning a ruling by a US district court that was affirmed by the US Court of Appeals for the Eighth Circuit. Visa (V) shares were flat, Mastercard ( MA ) stock was down almost 1%.
The Supreme Court ruled Monday that Donald Trump has "presumptive" immunity from prosecution for all of his official acts and none for his unofficial acts, ordering lower courts to revisit the criminal charges for allegedly trying to overturn the 2020 election results. Trump Media & Technology Group ( DJT ) shares were up 2%.
Sebastian James, managing director of Walgreens Boots Alliance's ( WBA ) subsidiary Boots is stepping down after Walgreens failed to engineer a sale of the company, Reuters reported on Monday, citing a person familiar with the matter. The company's shares were down almost 5%.
Price: 186.54, Change: +4.53, Percent Change: +2.49