Diamonds and Dogs
Something about market tops cause mergers and acquisitions. Kraft Heinz (KHC) is up 7% while Unilever (UL) is up 10% after news broke that Kraft is attempting to buy Unilever in a $143 billion deal that would create a global food leader that sells products including cheese, lunch meats, spreads and snacks. The deal was rejected by Unilever, but shareholders still think the deal has a chance.
It's never good for business to get suited by the Federal Government. Shares of UnitedHealth Group (UNH) are down 3% leading the Dow lower after the Department of Justice joined a whistleblower's lawsuit against the health care giant for overcharging Medicare.