The Twitter (TWTR) takeover talks were hitting Salesforce.com (CRM) shares during midday trading Wednesday. The stock was down about 7%. This came after a Wall Street Journal report said Marc Benioff has been building a case to Salesforce investors that his company should purchase the social media company. Sources told the Journal that Benioff is looking for an acquisition that would secure "a treasure trove of data as well as a prized consumer brand."
TheStreet's Jim Cramer said on CNBC's "Squawk on the Street" Wednesday morning that if any takeover bids were going to happen, "I think it probably happens this week." But added that whoever buys Twitter is going to "be killed by them at least for the first or second year."
Meanwhile, shareholders of Constellation Brands (STZ) must be toasting in celebration after the beer, wine and spirits company posted top- and bottom-line beats for the fiscal 2017 second quarter. Earnings of $1.77 per share beat analysts' estimates of $1.65 per share. Revenue rose 17% year over year to $2.02 billion, topping Wall Street's forecast of $1.96 billion. Constellation also updated its full-year earnings forecast to $6.30 to $6.45, compared with its prior outlook for earnings of $6.05 to $6.35 per share. The company also expects full-year net beer sales to grow 16% to 17% year over year.
During CNBC's "Mad Dash" segment, Cramer said Constellation is one of the few double-digit growers left in the consumer goods industry. The stock was up more than 1.5%.
But a couple of shareholders are not happy with Samsung Electronics (SSNLF) . Blake Capital LLC and Potter Capital LLC, both units of Elliot Management, sent a letter to the technology company urging it to restructure, issue a special cash dividend and list a unit on Nasdaq. The funds argue that Samsung's shares trade at a steep valuation discount when compared with its peers.
Yet the letter might be the least of Samsung's concerns. About 75 passengers on Southwest Airlines' (LUV) Flight 994 from Louisville to Baltimore were forced to evacuate Wednesday after a Samsung phone burst into flames. Smoke and a strange odor were detected in the main cabin while the plane was loading to take off. No one was injured during the incident. Just last month, the U.S. Consumer Product Safety Commission urged all consumers who own a Samsung Galaxy Note7 to power down and stop charging or using the device.
But apparently, most Samsung shareholders are A-OK with this as the stock was gaining by more than 3% during midday trading.
Finally, as crude oil reached $50 a barrel, Tidewater (TDW) rose 12% and Chesapeake Energy (CHK) climbed 7%. This comes after the weekly inventory data from the EIA showed U.S. crude stockpiles declined for the week ended Sept. 30, while analysts had been anticipating a build. Inventories dropped by 3 million barrels to a total of 499.7 million barrels; analysts had predicted a rise of 2.6 million barrels for last week. Both companies are apart of Real Money's "Stressed Out" index of 20 troubled stocks with high debt loads.