ADT Jumps on State Farm Deal, Bed Bath Falls on CFO’s Death By Investing.com

Pre-Open Stock Movers:

Digital World Acquisition Corp (NASDAQ:) 21% LOWER; Report Company Failed to Secure Shareholder Support for One-year Extension to Complete Deal

Bed Bath & Beyond (NASDAQ:) 15% LOWER; CFO, Gustavo Arnal, was found dead on Friday in an apparent suicide.

ADT Inc (NYSE:) 15% HIGHER; ADT and State Farm, the 100-year good neighbor and largest insurer of homes in the U.S. with 13.7 million homeowners policies in force, today announced that State Farm will make a $1.2 billion equity investment in ADT, resulting in State Farm owning approximately 15% of ADT after the equity investment and the tender offer close. Additionally, ADT plans to partner with State Farm, and build upon its existing relationship with Google (NASDAQ:), with the aim to expand opportunities to combine next-generation security, innovative smart home technology and reimagined risk-mitigation capabilities to monitor, detect, prevent and optimize against homeownership risks.

Sitio Royalties Corp (NYSE:) 5% HIGHER; Sitio Royalties and Brigham Minerals (NYSE:) today announced that they have entered into a definitive agreement to combine in an all-stock merger, with an aggregate enterprise value of approximately $4.8 billion based on the closing share prices of STR and MNRL on Friday, September 2, 2022. The combination brings together two of the largest public companies in the oil and gas mineral and royalty sector with complementary high-quality assets in the Permian Basin and other oil-focused regions, creating an industry leader with a proven track record of consolidating oil and gas mineral and royalty interests operated by a diverse set of E&P companies.

Dropbox (NASDAQ:) 3% HIGHER; BofA Securities initiates coverage with a Buy rating and a price target of $34.00.

Transocean (NYSE:) 3% HIGHER; BTIG upgraded from Neutral to Buy with a price target of $8.00.

Perrigo Co (NYSE:) 2% HIGHER;  Wells Fargo upgraded from Equal Weight to Overweight with a price target of $54.00 (from $48.00).

Ciena Corp (NYSE:) 2% LOWER; JPMorgan downgraded from Overweight to Neutral.

FedEx (NYSE:) 2% LOWER; Citi downgraded from Buy to Neutral with a price target of $225.00 (from $270.00).

Organon & Co (NYSE:) 2% HIGHER; Piper Sandler upgraded from Neutral to Overweight with a price target of $34.00 (from $37.00).

CVS Health (NYSE:) 1% HIGHER; CVS and Signify Health (NYSE:) have entered into a definitive agreement under which CVS Health will acquire Signify Health for $30.50 per share in cash, representing a total transaction value of approximately $8 billion.

Tesla (NASDAQ:) 1% HIGHER; upgraded to Outperform at Wolfe Research, positive comments at Goldman Sachs.