Rio Tinto PLC ADR (NYSE:RIO) has announced a definitive agreement to acquire Arcadium Lithium plc (NYSE:ALTM) in an all-cash deal valued at $6.7 billion. What Happened: As per the press release on Wednesday, the acquisition price of $5.85 per share represents a 90% premium over Arcadium’s closing price on Oct. 4. According to Benzinga Pro, […]
CrowdStrike, Deckers, Ares Management And A Big Bank Stock On CNBC’s ‘Final Trades’
On CNBC’s “Halftime Report Final Trades,” Rob Sechan of NewEdge Wealth named Deckers Outdoor Corporation (NYSE:DECK) because of jobs report. On Sept. 13, Deckers Brands announced stockholder approval of six-for-one forward stock split and proportionate increase in authorized common stock. Jim Lebenthal of Cerity Partners picked Citigroup Inc. (NYSE:C). On Sept. 26, Citigroup inked an […]
JP Morgan Takes Stake In Australian Casino
JP Morgan Chase & Co. (NYSE:JPM) shares are trading higher on Friday. On October 1, 2024, the company became a substantial shareholder in The Star Entertainment Group Limited, acquiring 156.99 million ordinary shares, representing 5.47% voting power. Star Entertainment is an Australian casino operator. The company has been in troubled waters due to liquidity issues, […]
Jim Cramer Recommends Holding On To This Car Manufacturer, But As For Peloton? ‘Take The Loss’
On CNBC’s “Mad Money Lightning Round,” Jim Cramer recommended holding on to NIO Inc (NYSE:NIO) after the Shanghai-based auto manufacturer reported a year-over-year increase in September and third-quarter delivery results. When asked about Peloton Interactive, Inc. (NASDAQ:PTON), Cramer said, “Take the loss.” The exercise bike company saw its stock close at $4.62 on Wednesday, up […]
Jim Cramer Pushes For Strategic Price Cuts Among Companies Amid Inflation Worries: ‘It May Be Time For A Giant Reset’
Jim Cramer has urged companies to reduce prices to attract consumers amid ongoing inflation concerns. He emphasized the need for a “giant reset” in pricing strategies. What Happened: Cramer pointed out that while price increases have slowed, many businesses are hesitant to lower them due to worries about gross margins. He believes this reluctance is […]
What’s Going on with Chinese Stocks Alibaba, NIO, XPeng, Li Auto
Alibaba Group Holding (NYSE:BABA) and domestic rival stocks continued their rally since China announced stimulus plans to spur demand. Alibaba peers, including Baidu, Inc. (NASDAQ:BIDU), JD.com, Inc. (NASDAQ:JD), and PDD Holdings Inc. (NASDAQ:PDD), traded higher on Wednesday. Last week, China’s central bank shared plans to cut banks’ reserve requirement ratio (RRR) by 50 basis points […]
Bitcoin Up 8% In September: What Traders And Analysts Expect
Bitcoin’s (CRYPTO: BTC) 8% uptrend over the past 30 days is seen by traders as a precursor to what may be coming in the year’s final quarter. What Happened: “Millionaire trader” Unipcs highlighted that eight out of ten Octobers have seen Bitcoin rise in value. Moreover, during election years, Bitcoin has consistently performed well in […]
Hemp Under Siege: State Bans
Governor Gavin Newsom‘s emergency ban on hemp-derived THC products officially took effect on September 16, halting the sale of various hemp items across California. This sweeping measure threatens to eliminate up to 90-95% of available hemp products, leaving patients, farmers, manufacturers and retailers grappling with financial uncertainty. Get Benzinga’s exclusive analysis and the top news […]
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Major Tesla Supplier Arcadium Lithium Jumps Over 30%
October 9, 2024
Rio Tinto PLC ADR (NYSE:RIO) has announced a definitive agreement to acquire Arcadium Lithium plc (NYSE:ALTM) in an all-cash deal valued at $6.7 billion. What Happened: As per the press release on Wednesday, the acquisition price of $5.85 per share represents a 90% premium over Arcadium’s closing price on Oct. 4. According to Benzinga Pro, […]
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