Rio Tinto Offers To Buy Turquoise Hill Resources For $2.7B: Reuters
Rio Tinto plc (NYSE:RIO) proposed to buy out Turquoise Hill Resources Ltd (NYSE:TRQ) for $2.7 billion, aiming to gain more control…
Rio Tinto Made All-Cash Proposal to Acquire Remaining Shares in Turquoise Hill it does Not Own for C$34/Share
Rio Tinto has made a non-binding proposal to the Turquoise Hill Board to acquire the approximately 49% of the issued and outstanding shares of Turquoise Hill that Rio Tinto does not currently own (the "Proposed Transaction").
Earnings Scheduled For March 2, 2022
Companies Reporting Before The Bell
• SIGNA Sports United (NYSE:SSU) is expected to report quarterly loss at $0.04 per share on revenue of $283.61 million.
Mid-Morning Market Update: Markets Open Lower; Johnson & Johnson Sales Miss Views
Following the market opening Tuesday, the Dow traded down 1.79% to 33,748.82 while the NASDAQ fell 2.56% to 13,499.97. The S&P also fell, dropping, 2.59% to 13,496.29.
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SeaChange International, Inc. (NASDAQ: SEAC) jumped 128.8% to $1.72 following Bloomberg report suggesting that social video app Triller is in merger talks with Seachange.
40 Stocks Moving In Monday’s Mid-Day Session
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Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) shares climbed 83.4% to $91.52. Pfizer agreed to acquire Arena Pharmaceuticals for $100 per share in an all-cash transaction.
RBC Capital Maintains Sector Perform on Turquoise Hill Resources, Lowers Price Target to C$15
RBC Capital analyst Sam Crittenden maintains Turquoise Hill Resources (TSX:TRQ) with a Sector Perform and lowers the price target from C$25 to C$15.
BMO Capital Downgrades Turquoise Hill Resources to Underperform, Lowers Price Target to $12
BMO Capital analyst Jackie Przybylowski downgrades Turquoise Hill Resources (NYSE:TRQ) from Market Perform to Underperform and lowers the price target from $14 to $12.
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FAT Brands Inc. (NASDAQ: FATBB) shares gained 99.2% to settle at $15.44. FAT Brands recently announced plans to acquire Fazoli’s Restaurant Chain for $130 million.