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Stocks continued to grind lower Monday as bond yields surged on the hawkish fed, which pushed the Dow into bear market territory. Despite the sell-off, several rumors made the rounds on Wall Street today.
1. Twitter (NYSE:TWTR) shares rose briefly mid-day on speculation following news that the depositions of Musk, Twitter’s Agrawal in the merger case have been postponed. Some speculated on a possible settlement. However, it was later reported that the delay was not related to a settlement.
2. IBM (NYSE:IBM) could spend $20-$30 billion on a large M&A deal, an analyst at Evercore ISI speculated. Some names mentioned as possible targets for IBM included: Zscaler (NASDAQ:ZS), Okta (NASDAQ:OKTA), DocuSign (NASDAQ:DOCU), RingCentral (NYSE:RNG), MongoDB (NASDAQ:MDB), and Gitlab Inc (NASDAQ:GTLB).
