Sunday, April 14, 2024
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Before Tuesday’s Market Opens

The following news items are the most crucial for investors to know as they begin their trading day:

1. A tech revival

As investors purchased IT companies, stocks increased to start the trading week. The S&P 500 increased by roughly 0.7%, while the tech-heavy Nasdaq Composite increased by 1.1%.

2. The fight has ended

Disney and Charter Communications have ended their lengthy dispute over a blackout that lasted over a week. Just in time for millions of Charter cable subscribers to watch “Monday Night Football,” which is shown on Disney’s ESPN, the two parties came to an agreement.

3. Dimon’s advice

The American economy has shown resiliency and defied all predictions of a recession. However, JPMorgan Chase CEO Jamie Dimon took a cautious approach on Monday, saying it would be a “big mistake” to think the good times will last indefinitely. He remarked at a banking conference in New York that saying the consumer is strong today means there will be economic growth for years is a grave error.

4. Oracle’s income

Following Oracle’s fiscal first-quarter sales shortfall, the shares plunged 9% in after-hours trade. Despite exceeding estimates for earnings per share, the database software maker’s revenue guidance was also less aggressive than anticipated. Oracle’s sales came in at $12.45 billion as opposed to the $12.47 billion experts had predicted, according to LSEG (previously Refinitiv).

5. Good bargain

There is a new owner of the brand that many snack aisle favourites bear. For $5.6 billion, or $34.25 per share, J.M. Smucker, best known for its jellies, will acquire Twinkie manufacturer Hostess Brands. For each Hostess share they own, stockholders will receive $30 in cash and.03002 of a Smucker’s share. When the acquisition is completed, Smucker will also take over Hostess’ approximately $900 million in debt. The recent acquisition of Rao’s pasta sauce by Campbell’s Soup for $2.7 billion, the purchase of Kevin’s Natural Foods by M&M’s owner Mars, and the acquisition of Yasso frozen yoghurt by Unilever are just a few recent deals in the food industry.

Source (CNBC)

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