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Stocks closed lower for the fourth straight session as investors grow increasingly worried about a deeper-than-expected recession amid the Fed’s aggressive rate hikes to combat inflation. Amid the downside, several rumors drove trading action in select stocks Monday. Below we highlighted a couple:
American Equity Investment Life Holding (NYSE:AEL) gained 3% after Raymond James analysts said the company could be targeted as a takeout candidate. The analysts further noted that investor BAM is displaying activist behavior and appears committed to retaining its ~18.5% stake in AEL, implying it sees upside in the stock.
Generac Holdings (NYSE:GNRC) fell 3% despite rumors the company could be the target of an activist investor with shares down 74% year-to-date.
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