Diamonds and Dogs

11/4/22


Takeover bid for Yamana Gold (AUY). The stock is jumping 20% as two Canadian mining companies teamed up on an unsolicited $4.8 billion offer to break up an earlier merger agreement with South Africa's Gold Fields. South Africa's Gold Fields had agreed to take over Yamana for $6.7 billion in an all-stock deal in May, and a shareholder vote was set to take place on Nov. 22.

Easier to bet on sports than DraftKings's (DKNG) stock.  The sports betting stock is down 27% following lackluster earnings and guidance. The company lost $800 million and forecasted revenue of $2.8 billion and $3 billion in 2023 with a adjusted loss of between $575 million and $475 million. Analyst at JP Morgan suggests that DraftKings is lagging its peers on the path to consistent profitability.  

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