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Pay Attention to These 4 Rumors Going Around Wall Street

Stock Markets Sep 29, 2022 17:06
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By Investing.com Staff

Traders were back to their selling ways on Thursday, as the S&P 500 slipped another 2.1%. Despite the selling pressure, several rumors made their way across Wall Street today. Below we highlight a few of them:

1. Cano Health Inc (NYSE:CANO) was back in the rumor mill on word the auction of the company is in the second round. Humana (NYSE:HUM) and CVS Health Corp (NYSE:CVS) are rumored suitors for the company and some analysts think the stock could be worth $14 per share in a sale. Shares of CANO fell 1.9% today.

2. A source told Investing.com that the price being discussed for DXC Technology Co (NYSE:DXC) is around $45 per share, or a more than 80% premium to today's close. A least one private equity firm is said to be in talks to acquire the company and DXC is said to be working with bankers on a possible deal. Shares of DXC rose 2.5% today.

3. Rumors swirled that the private equity takeover of Tenneco Inc (NYSE:TEN) could be in some jeopardy after banks reportedly shelved the bond sale for the Brightspeed LBO, backed by Apollo-managed funds (NYSE:APO). The suitor for Tenneco is also Apollo. Shares of TEN closed down 3.7%.

4. Word spread that Meta Platforms Inc (NASDAQ:META) announced it will freeze hiring and restructure some teams to cut costs and shift priorities, according to Bloomberg News. Shares of META closed down 3.7% today.

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Pay Attention to These 4 Rumors Going Around Wall Street
 

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