What you need to know on Wall Street today
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Dealmaking continues to move at a torrid pace in 2018.
Keurig Green Mountain and Dr. Pepper Snapple announced Monday they're planning to merge in a deal worth nearly $19 billion, sending the soda-maker's shares skyward. A secretive banker beloved by Warren Buffett played a role on the deal.
Four years after going private, Dell is weighing a sale of its business to VMware, a massive and unusual deal that would allow Dell to go public by essentially selling itself to a company that it owns. Dell owns 80% of VMware, a publicly traded software virtualization company that Dell acquired when it purchased EMC for $67 billion in 2015. VMware stock slipped on the news.
Sanofi is buying another blood-disease biotech for $4.8 billion. Its purchase of Ablynx on Monday comes a week after buying Bioverativ for $11.6 billion.
Fears over 9/11 lawsuits could stop Saudi Aramco bringing its $2 trillion IPO to New York.
In non-deals news, Wynn Resorts stock continues to fall after casino mogul Steve Wynn stepped down from the RNC amid sexual misconduct allegations.
Here's what else is happening today:
- MACQUARIE: 'Grotesquely swollen financial markets' will go haywire this year
- GOLDMAN SACHS WARNS: There's a 'high probability' of a stock market correction in the coming months
- Amazon is expanding the number of items that are eligible for Prime shipping - and it shows how important the membership program is to the company
- Facebook's News Feed change could bury the biggest digital stars
- A California investing startup just launched a new feature to show how much home you can afford
- San Francisco's housing shortage is so bad that an $8 billion development is rising on a former nuclear test site - here's what it's like
Apple stock dipped after reportedly telling suppliers to cut iPhone X production targets in the first three months of the year. The company also said it might launching a new cheap iPhone this year - and it feels like the iPhone 5C fiasco all over again.
Almost every major cryptocurrency is falling. Here's what else is going on in crypto-land:
- Two bitcoin traders were held at gunpoint in an armed raid in rural England.
- 'A realistic risk of total loss': A senior figure at Deutsche Bank's $880 billion asset management arm warns against bitcoin
- A wildly popular bitcoin stock is popping after a 91-for-1 split
Customers are freaking out after Panera Bread announced it would be recalling five varieties of its cream cheese sold in US locations because of a potential bacteria contamination.
Lastly, thousands of people in Kenya are getting basic income for 12 years in an experiment that could redefine social welfare around the world.