Sam is a trader and one of our lead stock analysts at AskTraders. After starting his career predominantly in the forex markets, Sam now focuses on gold and stocks with a preference for macroeconomic analysis.
On Monday, Teledyne Technologies (NYSE: TDY) announced it has agreed on a deal to acquire FLIR Sytems (NASDAQ: FLIR) in a cash and stock transaction worth approximately $8 billion.
As coronavirus restrictions look set to tighten in Europe (particularly in the UK), most European indices close higher.
“Some analysts are concerned about the company’s over-dependence on its COVID-19 treatment as a future revenue generator, given that sales of the drug could drop substantially once the pandemic is under control.”
Despite a positive open, US equities are trading lower.
Shares of The9 Limited (NASDAQ: NCTY) have are rocketing 123% premarket, currently trading at $7.91 after the company announced it has signed a cooperation and investment term sheet with several investors in the cryptocurrencies mining industry including Jianping Kong, the former Director and Co-Chairman of Canaan Inc. (Nasdaq: CAN), Qifeng Sun, the former Director of Canaan Inc., Li Zhang and Enguang Li.
The9 said the investors are expected to utilize their cryptocurrencies mining industry resources to assist The9 for its development of cryptocurrencies mining business. The9 will set up a new wholly-owned subsidiary NBTC Limited to operate its blockchain and cryptocurrencies business.
NIO shares look set to climb on the first trading day of the year after the company reported a 112.6% increase in vehicle deliveries in 2020 compared with 2019.
US Casino powerhouse MGM Resorts International (NYSE: MGM) has made an offer of approximately $8.1 billion to acquire Ladbrokes and Bwin owner Entain (LON: ENT).
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