Diamonds and Dogs
Merger Monday. People's United Financial (PBCT) is up 14% after agreeing to be acquired by M&T Bank for $7.6 billion. Cooper Tires (CTB) is jumping 30% after agreeing to be acquired by Goodyear (GT). Goodyear is up 22%.
Petrobras (PBR) is down 20% wiping out 70 billion reais ($12.7 billion) in market value, as Brazilian President Jair Bolsonaro again slammed its pricing policies after he replaced the state-controlled oil company's market-friendly CEO with a retired army general.
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