Facebook Inc (NASDAQ:FB) stock took a hit Monday thanks to a downgrade from Laura Martin of Needham. Martin lowered the social media giant to Hold from Buy, per MarketWatch, citing concern over the company’s pivot to privacy, regulatory risks and the company’s struggle to remove “horrific images,” including livestreams of the recent mass shooting in New Zealand.
Shares tumbled 3.5% to close at $160.47.
Boeing Co. (NYSE:BA) remained under intense scrutiny following a pair of deadly plane crashe. A Wall Street Journal report Sunday revealed that the US Department of Transportation is investigating whether the Federal Aviation Administration used appropriate standards and analysis when it approved the company’s 737 Max planes. At the heart of the investigation is their anti-stall system, which may have played a role in the crash.
The stock finshed down 1.8% at $372.28.
Deutsche Bank AG (NYSE:DB) has plans to merge with Commerzbank, which is proving tricky for German Chancellor Angela Merkel. The German government has a 16% stake in Commerzbank, which it acquired as part of a bailout in 2009. Investors are unsure what will become of the government’s stake, but it’s possible the share will be converted into shares of the new combined bank, according to Bloomberg. As many as 20,000 to 30,000 could be on the line.
Investors are intrigued by the German merger, sending shares up 4.3% to end the day at $9.26.
Caesars Entertainment Corporation (NASDAQ:CZR) stock jumped thanks to reports that the casino and hotel operator is considering a merger with Eldorado Resorts Inc (NASDAQ:ERI). Caesars is providing some confidential financial information to Eldorado, sources told Reuters, but Eldorado has yet to make an offer.
Investors are going all-in, boosting the stock 2.7% to $8.30.
Worldpay Inc (NYSE:WP) is being bought by Fidelity National Information Services Inc (NYSE:FIS) for about $35 million, per the Associated Press. Shareholders of the electronic payment service would receive 0.9 FIS shares and $11 in cash for each of their Worldpay shares.
Shares of Worldpay spiked nearly 10% to $108.51, and FIS shares edged down 0.7% to $108.12.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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