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Kohl’s Soars in Premarket on Bid Reports; Coinbase, Halliburton Fall -Breaking

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© Reuters.

Geoffrey Smith 

Investing.com — Premarket trades on Monday 24 January will focus on stocks. This is a moment when futures point to a wide-based selloff during the opening. For the latest updates, please refresh.

  • Kohl’sThe stock of (NYSE:) rose 33% following reports that Sycamore Partners, a private equity firm, had offered to purchase the failing department store chain. No details have been confirmed, but the news effectively kicks off a bidding war for a company that is already clearly in play after Acacia Research’s move last week.
  • Peloton(NASDAQ:) Stock fell 4.3% despite the risk-off mood and reports from Blackwells Capital, an activist investor.
  • Unilever ADRs (NYSE:) rose 7.3% as Trian, the investment vehicle of activist investor Nelson Peltz, was reported to have acquired a stake (of unspecified size) in the Anglo-Dutch consumer giant. Unilever’s management strategy, heavy on ESG compliance but light on shareholder returns, has increasingly attracted the attention of activists…
  • HalliburtonStock in (NYSE: ) dropped 3.1%, even though oilfield services company easily beat expectations for its fourth quarter earnings. The company also increased the dividend by 12c per share to 4.5c from 4.5c. This contrasts with rivals. Schlumberger(NYSE:) had resisted such an action last week.
  • Koninklijke PhilipsADRs (NYSE 🙂 dropped 3.9% after its quarterly report revealed weak earnings, which it had already forecast two weeks earlier.
  • Coinbase(NASDAQ) The stock dropped another 11%. It is now set to open at an all-time low.  MicroStrategyAnother popular proxy stock (NASDAQ) fell 15% and will open at its lowest point since December 2020.
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