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After five days of selling pressure, stocks finally snapped the streak today following a rise in jobless claims. Amid the upside, several rumors swirled around Wall Street. Below we highlight a few:
MBIA (NYSE:MBI) rose over 4% following a report from Investing.com that the company received takeover bids from rivals Assured Guaranty Ltd. (NYSE:AGO) and another company, according to a source. Talks are said to be in the more advanced stages. Another rumored suitor, Ambac Financial Group (NYSE:AMBC), denied it was the second rumored suitor for MBIA.
Shares of Tesla (NASDAQ:TSLA) fell following a report from Bloomberg News that Elon Musk is talking to banks to obtain new margin loans to replace older loans he secured to acquire Twitter. The focus of talks is on the $3 billion of unsecured debt, for which the social media company pays 11.75% interest. If Musk agrees to restructure the deal, any new margin loans are likely to be taken against his Tesla holdings.
Edwards Lifesciences (NYSE:EW) traded flat on vague takeover rumors as both the new CEO and outgoing CEO, who will now be non-executive Chairman, have ties to long-rumored suitor Johnson & Johnson (NYSE:JNJ). Nothing appears imminent.
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