Closing Bell
The three major U.S. averages each closed Monday's session in the green, led by the Nasdaq.
The Nasdaq led the way higher, climbing 19%, or 14 points to 7,660, while the S&P 500 gained 0.11%, or 3 points to 2,782, and the Dow Jones Industrial Average rose 0.03%, or 7 points to 25,324.
U.K. to Require Publishing of CEO/Worker Pay Gap Data by 2020
The U.K. will require its largest companies to publish data on the pay gap between workers and bosses by 2020, under a proposal by government regulators.
Business minister Greg Clark said that set out the new laws Monday, requiring companies with more than 250 employees to make the data public.
The new proposals are subject to parliamentary approval after first being proposed last year.
Berkshire Sells Stake in Knauf AG to USG for $7 Billion
Berkshire Hathaway (BRK.B) has finally freed itself from its position in Germany's Knauf AG after Chicago-based building material maker USG Corp USG agreed to purchase the firm's stake for $7 billion.
Berkshire had been instrumental in helping Knauf emerge from bankruptcy in 2006 through a $400 million bailout. In March, the investment firm said that it offered its stake in USG to Knauf for $43 a share. Monday's proposal valued Berkshire's stake in the company at $1.9 billion
Earlier this year Warren Buffet called his investment in Knauf "disappointing."
USG Corp shares were up 3.9% Wednesday.
Boston Scientific Jumps on Report of Stryker Takeover Approach
Takeover chatter is good until it's bad.
Trading of Boston Scientific Corp. (BSX) shares had to be halted temporarily Monday, June 11, after reports of a takeover by Stryker Corp. (SYK) sent the stock soaring.
The Wall Street Journal reported that Stryker made a takeover approach, sending Stryker down more than 3% and Boston Scientific up more than 6% in a matter of minutes. Stryker was already nearing its daily average trading volume of 1.3 million shares.
Boston Scientific shares were up 9.5% to $35 a share shortly after trading resumed after 10:40 a.m. ET.
IHOb Is the International House of Burgers
IHOP is making quite the pivot away from its traditional breakfast image, renaming the brand IHOb with the 'b' standing for "burgers."
The company has been dropping social media hints as to what the new name could possibly be and on Monday it unveiled its new name.
Dear Internet, we abbreciate your batience. Now let's see who guessed right. B-hold!!!!! #IHOb pic.twitter.com/Fh3SkZ7s3Y
— IHOb (@IHOb) June 11, 2018
Premarket
U.S. futures were mixed Monday morning, but futures for all three major indices were hovering near their respective baselines ahead of the opening bell.
Dow futures were up 0.01%, indicating an open 2 points higher, while Nasdaq futures lost 0.02%, indicating an open 2 points lower, and S&P futures declined 0.03%, indicating an open 1 point lower.
Asian markets were also mixed Monday, with the Shanghai Composite being the lone major index to close the day lower, falling 0.47%. The Hang Seng and Nikkei closed trading up 0.34% and 0.48% respectively.
European markets were in the green across the board, led by the FTSE 100 which was gaining 0.73% with about four hours left in trading.
