financetom
Market
financetom
/
Market
/
Top Midday Stories: Blackstone Makes $1.74 Billion Bid for Infocom; FDIC Expected to Downgrade Citigroup's 'Living Will'; Stellantis Unit to Recall Over 1 Million Vehicles
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Top Midday Stories: Blackstone Makes $1.74 Billion Bid for Infocom; FDIC Expected to Downgrade Citigroup's 'Living Will'; Stellantis Unit to Recall Over 1 Million Vehicles
Jun 18, 2024 9:22 AM

12:10 PM EDT, 06/18/2024 (MT Newswires) -- The major US stock indexes were mixed on Tuesday morning following the release of the latest retail sales data showing a 0.1% increase in May, below consensus forecasts.

In company news, Blackstone (BX) made more than a 275 billion yen ($1.74 billion) bid to acquire Japanese digital comic provider Infocom, multiple media outlets reported Tuesday, citing Infocom. Blackstone will buy a 57.9% stake in the company from its current parent, Teijin, for 134.38 billion yen and launch a tender offer for the remaining shares at 6,060 yen each, valuing Infocom's equity at around 275.8 billion yen, according to media reports. Separately, Blackstone's Blackstone Real Estate, along with MRP Group, announced Tuesday that a Mexican trust formed by their affiliates has increased the price of its tender offer for up to 100% of Terrafina's outstanding real estate trust certificates by 1 Mexican peso ($0.05) to 39.50 pesos per certificate. Shares of Blackstone were up 0.5% around midday.

The Federal Deposit Insurance Corp. is expected to downgrade its rating for Citigroup's ( C ) data-management system to a "deficiency" from a "shortcoming," The Wall Street Journal reported, citing unnamed sources familiar with the matter. The Federal Reserve and the FDIC identified a "shortcoming" in Citi's resolution plan, or "living will," in November 2022. Citigroup ( C ) shares were up 1.5%.

Union members at Amazon.com ( AMZN ) have voted to partner with the International Brotherhood of Teamsters to coordinate staff contract negotiations, the unions said Tuesday in a joint statement. About 98% of the Amazon Labor Union voted for the alliance, the groups said. Shares of Amazon ( AMZN ) were down 1.2%.

Stellantis' ( STLA ) Fiat Chrysler is planning to recall over 1 million vehicles because of an issue with rearview cameras that prevents images from displaying, the US National Highway Traffic Safety Administration said in a letter of acknowledgement posted on its website and sent to Chrysler late Monday. The affected vehicle models are the 2021-2022 Dodge Durango; 2021-2023 Chrysler Pacifica; Jeep Grand Cherokee; 2022 Ram 1500, 2500 and 3500; 2022-2023 Jeep Compass; Grand Cherokee; Wagoneer; Grand Wagoneer; and Ram Promaster. Stellantis ( STLA ) shares were down 0.6%.

Boeing ( BA ) quality inspector Sam Mohawk has accused the company of mishandling and losing track of hundreds of faulty parts, some potentially installed on new 737 Max planes, Bloomberg reported Tuesday. Mohawk's claims suggest Boeing ( BA ) lost as many as 400 faulty 737 Max aircraft parts and deleted records for many of those from an internal cataloging system, Bloomberg reported, citing a June 11 complaint to the Occupational Safety and Health Administration. Shares of Boeing ( BA ) were down 1.7%.

KKR (KKR), Shell (SHEL) and IFM Investors are exploring selling their stakes, which total about 55.3% collectively, in the Colonial Pipeline at over a $10 billion company valuation, Reuters reported, citing unnamed people familiar with the matter. Elsewhere, KKR and Singtel said Tuesday they will invest 1.75 billion Singaporean dollars ($1.29 billion) in ST Telemedia Global Data Centers through a consortium. KKR shares were up 0.9%, while those of Shell were up 0.7%.

Philip Morris International's ( PM ) Swedish Match North America affiliate received a subpoena from the Attorney General of the District of Columbia, requesting information of its compliance with the district's ban on the sale of flavored products, Philip Morris ( PM ) said Monday. Swedish Match North America is working to suspend online sales of Zyn nicotine pouches immediately and is reviewing sales and supply chain arrangements in areas where flavor bans are implemented. Shares of Philip Morris ( PM ) were down 0.5%.

Boston Scientific ( BSX ) and Silk Road Medical ( SILK ) have signed a definitive agreement under which Boston Scientific ( BSX ) will acquire Silk Road Medical ( SILK ) for $27.50 per share, the companies said Tuesday. The transaction is expected to be completed in H2, subject to required closing conditions, the companies said. Boston Scientific ( BSX ) shares were basically flat, while those of Silk Road Medical ( SILK ) were up 23.9%.

NextEra Energy (NEE) said Tuesday it has agreed to sell $2.0 billion of its equity units to Wells Fargo Securities and BofA Securities. The deal is expected to close Thursday, the clean energy company said. With a stated amount of $50, NextEra said each unit represents a contract to purchase NextEra common stock in the future and a 5% undivided beneficial ownership interest in a NextEra Energy Capital Holdings ( NEE ) debenture due June 1, 2029. Shares of the company were down 3.3%.

Toyota Motor ( TM ) shareholders re-elected Akio Toyoda as chairman during the company's ordinary general shareholders' meeting, the company said Tuesday. Toyota ( TM ) shares were down 0.5%.

Apple ( AAPL ) is suspending work on its next Vision headset, The Information reported Tuesday, citing an employee at a manufacturer that makes key components for the Vision Pro. Separately, Apple ( AAPL ) is settling a European Union probe into its mobile payments system by offering concessions to allow competitors access to tis contactless technology, the Financial Times reported Tuesday, citing three unnamed people familiar with the matter. The settlement is likely to be reached in the next few weeks, as Apple ( AAPL ) works on final technical details, the report added, citing the people. Apple ( AAPL ) shares were down 1.2%.

Price: 61.01, Change: +0.95, Percent Change: +1.58

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Japan's Nikkei hits record high on Wall Street gains, weaker yen
Japan's Nikkei hits record high on Wall Street gains, weaker yen
Mar 21, 2024
TOKYO, March 22 (Reuters) - Japan's Nikkei share average hit a record high on Friday, underpinned by the strength on Wall Street overnight and as a weaker yen prompted investors to buy automakers. The Nikkei rose to as high as 41,087.75 earlier in the session, crossing the 41,000 level for the first time. The index ended 0.07% higher at 40,844.53...
Sector Update: Health Care
Sector Update: Health Care
Mar 21, 2024
03:42 PM EDT, 03/21/2024 (MT Newswires) -- Health care stocks rose late Thursday afternoon with the NYSE Health Care Index adding 0.2% and the Health Care Select Sector SPDR Fund (XLV) rising 0.3%. The iShares Biotechnology ETF (IBB) climbed 0.9%. In corporate news, Eledon Pharmaceuticals ( ELDN ) shares surged 12% after it said its tegoprubart monoclonal antibody was used...
Japan's Nikkei ends at record high on Wall Street gains, weaker yen
Japan's Nikkei ends at record high on Wall Street gains, weaker yen
Mar 22, 2024
(Updates to closing prices) TOKYO, March 22 (Reuters) - Japan's Nikkei share average closed at an all-time high on Friday, underpinned by record gains on Wall Street overnight and strength in automakers' stocks on a weaker yen. The Nikkei rose 0.18% to end at 40,888.43, after hitting 41,087.75 earlier in the session to break an all-time intraday high. The index,...
Sector Update: Financial
Sector Update: Financial
Mar 21, 2024
03:19 PM EDT, 03/21/2024 (MT Newswires) -- Financial stocks advanced late Thursday afternoon, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each rising 0.9%. The Philadelphia Housing Index climbed 1.8%, and the Real Estate Select Sector SPDR Fund (XLRE) was adding 0.4% Bitcoin (BTC-USD) dropped 4% to $65,176, and the yield for 10-year US Treasuries...
Copyright 2023-2025 - www.financetom.com All Rights Reserved