Noon Market Update - February 20, 2020
Markets Accelerate to Negative Prices
Tommy O' Brien's 9 a.m. TigerTV Market Update
Morgan Stanley Buys E Trade for $13 Billion All Stock Deal
Morgan Stanley is getting E-Trade’s 5.2 million customer accounts with $360 billion in assets and a leading business that manages corporate stock plans.
The investment bank will pay $58.74 a share in stock for E-Trade in a deal bringing together $3.1 trillion in client assets.
The investment bank will pay $58.74 a share in stock for E-Trade in a deal bringing together $3.1 trillion in client assets.
Victoria’s Secret to go private in a deal that values it at $1.1 billion
Private equity firm Sycamore Partners will acquire a 55% share in Victoria’s Secret from its owner L Brands for $525 million, the companies announced Thursday. Upon the close of the deal, L Brand founder, 82-year-old Les Wexner, will step down as its chairman and CEO.
LB initially traded lower but rebounded to positive territory on the open.
LB initially traded lower but rebounded to positive territory on the open.
Stamps.com jumps more than 50%
- Stamps.com reported an adjusted profit of $2.12 per share for the fourth quarter on revenue of $160.9 million.
- Analysts polled expected earnings of $1.03 per share on sales of $144.7 million.
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