Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Ladbrokes owner, Entain’s (LON: ENT) shares have plunged after MGM Resorts (NYSE: MGM) abandoned a takeover attempt after its previous proposal was declined.
MGM said that “after careful consideration and having reflected on the limited recent engagement between the respective companies regarding MGM’s rejected all-stock proposal at an exchange ratio of 0.6x, it does not intend to submit a revised proposal and it will not make a firm offer for Entain.”
Entain shares are down 12.73% at 1233.5p after falling to lows of 1137.5p.
Shares of biopharmaceutical firm Aclaris Therapeutics Inc (NASDAQ: ACRS) have made substantial gains on Tuesday after the company reported positive data from its mid-stage rheumatoid arthritis ATI-450 trial.
Aclaris’ stock price is trading over 218% higher at $18.17 per share.
General Motors (NYSE: GM) driverless-car developer Cruise has pulled in $2 billion investment from Microsoft, Honda and others, bringing the post-money valuation of Cruise to $30 billion.
“Microsoft is a great addition to the team as we drive toward a future world of zero crashes, zero emissions and zero congestion,” said GM Chairman and CEO Mary Barra. “Microsoft will help us accelerate the commercialization of Cruise’s all-electric, self-driving vehicles and help GM realize even more benefits from cloud computing as we launch 30 new electric vehicles globally by 2025 and create new businesses and services to drive growth.”
Royal Caribbean Group Sells Azamara Luxury Cruise Line for $201 Million: Via @DeltaOne Twitter
Halliburton Q4 earnings:
Bank of America Q4 earnings:
Shares of gold mining company Centamin PLC (LON: CEY) edged 3.44% higher after the company released its Q4 and full-year 2020 results, which were in line with previous guidance.
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