On first trading of the year, Herbalife Nutrition Ltd. (HLF) rose to $49.89 rising +3.83 percent. Billionaire investor Carl Icahn sold $600 million to the corporation for more than half of his interest in Herbalife Nutrition and gave up five board positions occupied by his members.
Centene Company (CNC) grew to $62.09, up +3.43 percent. Centene announced the purchase of Magellan Health as part of a $2.2 billion debt-included deal to improve its mental health programs.
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Fiat Chrysler Automobiles N.V. (FCAU) went up +0.55% to $18.19. In favor of the planned cross-border merger with FCA presented in December 2019, the three major owners of the French PSA, the Peugeot family, the French State and Chinese Dongfeng, voted. Fiat Chrysler shareholders have voted in favor of the merger, which, in terms of unit sales, would create the world’s fourth-largest car company. Stellantis would have staff strength of more than 400,000. The required antitrust approvals have been received by both manufacturers.
TDY (Teledyne Technology Incorporated) fell by -7.55% to $362.39. Teledyne Technologies has announced the purchase of $8 billion in cash and shares of the thermal imaging camera maker Flir Systems.
Pinduoduo Inc. (PDD) fell -6.13% to $166.78. The Chinese authorities will investigate the working practices of the e-commerce company after the death of an employee.
Roku, Inc. (ROKU) was down to $317.9, falling -4.25 percent. The maker of set-top boxes and video players is considering the purchase of the content library of Quibi, a subscription service that filed for bankruptcy a few months after its launch. At least that is what was stated yesterday by the Wall Street Journal.
Alibaba Group Holding Limited (BABA) fell to $227.85, down -2.1 percent. For more than two months, Jack Ma, the billionaire founder of the Chinese e-commerce giant, was not seen in public, which is beginning to worry, particularly after the Chinese court has just opened an inquiry into the competitive activities of the company after blocking the launch of the Ant Group subsidiary. With the Chinese Communist Party, Ma was in dispute. He has not been seen since October, according to the Financial Times.