© Reuters. 2 rumors lighting up trading screens today
By Investing.com Staff
Stocks staged an explosive rally on Thursday after the CPI report was cooler than expected, which stoked hopes the Fed will slow the pace of rate increases sooner rather than later. Amid the gains, several rumors circulated Wall Street. Below we highlighted a couple:
IBEX Ltd (NASDAQ:) gained nearly 14% following a Bloomberg News report the company is attracting preliminary interest from suitors including buyout firm CVC Capital. CVC has been speaking to banks about financing. Deliberations are said to be ongoing.
Seagen (NASDAQ:) fell 5% after it named David R. Epstein as CEO, which dashed M&A hopes. Merck & Company Inc (NYSE:) was seen as a buyer of the company but an agreement couldn’t be reached on price and now, with the new CEO, it appears SGEN has moved on.
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