LUV Jul 2024 23.000 call
- Yahoo Finance Video
ADP jobs data, Constellation Brands, summer gas prices: Morning Brief
Just one day shy of the July 4th festivities, the market (^DJI, ^IXIC, ^GSPC) will be on vacation tomorrow but not before clocking out one more trading session. Brad Smith and Madison Mills walk investors through the opening bell in today's shortened trading day. Get your flip-flops ready and grab a beer this holiday because Corona maker Constellation Brands (STZ) reported its first-quarter earnings, topping profit estimates but coming just short on the revenue front. Citi US beverages analyst Filippo Falorni explains how beer sales — particularly through Constellation's Corona and Modelo brands — are still a key driver in the alcohol company's profit growth. Paramount Global (PARA, PARAA) may be back on the menu for prospective buyer Skydance Media, as reports surface that it is in talks to buy Paramount's holding company National Amusements. Bloomberg Intelligence senior media analyst Geetha Ranganathan comes onto The Morning Brief to talk about the latest development in Paramount's M&A saga. Other top trending stocks on the Yahoo Finance platform this morning include Southwest Airlines (LUV), Marriott International (MAR), and gasoline prices (RB=F). This post was written by Luke Carberry Mogan.
- Yahoo Finance Video
Southwest Airlines to adopt plan to fend off activist investors
Shares of Southwest Airlines (LUV) ticked up Wednesday morning after the company announced it will implement a shareholder rights plan to fend off activist investor firm Elliott Management. This plan will allow shareholders to purchase one new share for every share they own at a 50% discount, but only if Elliott Management, or another investor, acquires 12.5% of the company. Morning Brief Anchors Brad Smith and Madison Mills break down the latest development for Southwest Airlines, explaining its "poison pill" tactic hoping to fend off potential M&A. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Nicholas Jacobino
- Bloomberg
Southwest Air Adopts Poison Pill to Counter Activist Elliott
(Bloomberg) -- Southwest Airlines Co. has adopted a shareholder rights plan to defend against a push for a leadership overhaul by activist firm Elliott Investment Management.Most Read from BloombergHouse Democrats Consider Demanding Biden Withdraw From RaceBiden Struggles to Contain Mounting Pressure to Drop Out of RaceChina Can End Russia’s War in Ukraine With One Phone Call, Finland SaysUS Allies Say China Is Developing Attack Drones for RussiaZelenskiy Challenges Trump to Reveal Plans for End
