Topgolf Callaway Brands Corp (NYSE:MODG) is in discussions to sell its Topgolf unit to private-equity firm Leonard Green, potentially valuing the business at around $1 billion, the Wall Street Journal reported on Friday.
The potential transaction comes more than four years after Callaway acquired Topgolf in 2021 for roughly $2.66 billion, including the unit’s debt, in an all-stock deal that later prompted the company to change its name.
Walmart Inc (NYSE:WMT, ETR:WMT) shares slipped 2.5% in early trading on Friday after the retail giant disclosed that its CEO Doug McMillon is retiring early in 2026 after leading the company for nearly 12 years.
McMillon will be succeeded by John Furner, who is currently the CEO of Walmart US, at the beginning of 2026.
Merck & Co Inc (NYSE:MRK, ETR:6MK) announced it has agreed to acquire Cidara Therapeutics Inc (NASDAQ:CDTX) in a $9.2 billion cash deal, paying $221.50 per share, more than double Cidara’s stock price prior to the announcement.
Shares of Merck slipped 1.5% to about $92 on the news, while Cidara shares surged 105% to $217.
StubHub (NYSE:STUB) shares plummeted more than 23% pre-market after the company missed Wall Street expectations for the third quarter and declined to issue fourth quarter guidance, overshadowing a solid revenue beat for the period.
The ticketing marketplace reported Q3 revenue of $468.1 million, ahead of analysts’ estimates of $452 million and up 8% from $433.8 million a year earlier.