Free Trial

Late Equity Roundup: Twitter Buyout Unanimously Approved

US STOCKS
Stocks have rebounded off midday lows, trading positive in late FI trade as Twitter stock halted. Headlines: Elon Musk to purchase Twitter for $54.20/share cash after securing $25.5B "fully committed financing", taking the micro-blog messaging service private. Buyout unanimously approved by the board.
  • ESM2 climbed to 4274.75 high before drawing late selling: currently -4 (-0.09%) at 4263.25 vs. 4196.50 low just ahead noon. Aside from round number resistance of 4300.0, next key resistance in focus is 4355.50 Low Apr 18.
  • Earnings resume after the close: Whirlpool (WHR), Cadence (CDNS), SBA Comm (SBAC) to name a few.
  • SPX leading/lagging sectors: Communication Services (+1.27%) lead Match Group (MTCH) +6.48%, Twitter was +5.52%.
  • Laggers: Energy sector (-3.28%) weighed down by O&G and energy equipment/services as crude slides - "demand" shock tied to China zero covid lockdown fears.
  • Meanwhile, Dow Industrials currently trades +51.17 (0.15%) at 33861.6, Nasdaq +78.5 points (0.6%) at 12918.34.
  • Dow Industrials Leaders/Laggers: Johnson & Johnson (JNJ) +3.01 at 184.55, Microsoft (+3.85 at 277.88). Chevron (CVX) -3.43 at 157.52 tied to drop in crude.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.