Here Are 3 Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average
finished slightly higher on Tuesday after closing with gains for three straight sessions.
- U.S. benchmark West Texas Intermediate crude oil declined by 2.4%, settling at $69.06 a barrel.
- Comcast Corp. (CMCSA) was down 5.5% on reports it was challenging Walt Disney Co.'s (DIS) deal for Fox (FOXA) .
Wall Street Overview
Stocks finished mixed on Tuesday, May 8, as markets digested a decision from President Donald Trump on the U.S. pulling out of the Iran nuclear deal and renewing sanctions on the oil-rich nation.
The Dow Jones Industrial Average finished up 3 points, or 0.01%, to 24,360 after trading lower for much of the session. The S&P 500
Global oil prices retreated from their three-and-a-half year peaks on Tuesday, as markets were clearly focused on Trump's decision. U.S. benchmark West Texas Intermediate crude oil declined by 2.4%, settling at $69.06 a barrel.
Takeda said it has offered $30.33 in cash for each outstanding Shire share, as well as either 0.839 in new Takeda shares or 1.678 in existing Takeda American depositary shares. The deal values Shire at £49.01 per share, a 27.1% premium to the stock's closing price on Friday, May 4. Shire shares gained 1.4% to finish at $163.73.
Activist investor ValueAct Capital Partners LP has built a roughly $1.2 billion stake in Citigroup Inc. (C) , The Wall Street Journal reported. The stake amounts to about 0.7% of Citigroup, which has a market value of $175 billion.
Citigroup shares rose 3.7% on Tuesday.
Valeant Pharmaceuticals International Inc. (VRX) rose 8.7% after first-quarter revenue topped expectations and the company raised guidance for 2018 revenue. Valeant also said it was changing its name to Bausch Health Cos.
SeaWorld Entertainment Inc. (SEAS) posted a first-quarter loss of 73 cents a share. Adjusted for non-recurring costs, the loss was e 53 cents a share, narrower than analysts' estimates that called for a loss of 77 cents. The theme park operator posted first-quarter revenue of $217.2 million, which also topped forecasts of $198.4 million. SeaWorld shares jumped 7%.
Snap Inc. (SNAP) rose 1.8% after it was announced that Drew Vallero, chief financial officer, was stepping down. Vallero has been with Snap for two years. Since Snap's high-profile initial public offering in March 2017, a number of high-level executives have left the company.