Stocks retreated further from records, but remained largely resilient in the face of any large selloff. Still, markets were under pressure on the escalating threat of conflict with North Korea. The rogue nation has been a source of worry since President Trump leveled new threats against the country earlier in the week.
Sprint (S) and T-Mobile (TMUS) were higher on further reports that the two are close to sealing a deal. The telecoms are discussing initial terms for a merger agreement that could close as soon as the end of October. T-Mobile's parent company Deutsche Telekom would hold a majority stake.
In more deal news, Time Inc. (TIME) is reportedly holding talks to sell a number of its assets, including Time Customer Service and a majority stake in Essence. The assets up for sale generated 17% of total revenue over twelve months.
And Hewlett-Packard Enterprise (HPE) moved higher on reports it plans to cut around 10% of its staff, or at least 5,000 workers. The cuts are part of its efforts to reduce expenses as competition increases.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Breaking down an approach to the long side of this biotech stock.
Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation.
If you have questions, please contact us here.
Email
Email sent
Thank you, your email to has been sent successfully.
