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Even as stocks struggle for signs of life ahead of tomorrow’s Fed rate decision, rumors continue to drive market action on Wall Street. Below are four rumors floated in trading rooms today:
1. Nordstrom (NYSE:JWN) – The U.S. department store adopted a poison pill after a Mexican retailer El Puerto De Liverpool (BMV:LIVEPOLC1) accumulated a 9.9% stake last week. Rumor has it that El Puerto de Liverpool is interested in something more than just the toehold in the U.S. retailer.
2. Gap (NYSE:GPS): Amid its own internal struggles, Gap is said to be laying off 500 corporate employees, according to a report by The Wall Street Journal.
3. Warner Bros. Discovery (NASDAQ:WBD): Warner Bros. Discovery is said to be an attractive takeover target for Comcast (NASDAQ:CMCSA) given its lineup of live sports, The Streamable reported.
4. Peloton (NASDAQ:PTON) and a sports apparel company or tech firm could make sense, CNN reported.
