HomeNewsMarket highlights: Monday’s top five equities making headlines

Market highlights: Monday’s top five equities making headlines

Ruchi Gupta
  • Exterran announces merger with Enerflex, Kohl's attracting two private buyers
  • IBM tops revenue estimates in all its three segments
  • Activist investor want Peloton CEO gone

Exterran to merger with Enerflex

Exterran Corporation (NYSE: EXTN) shares jumped 50% after announcing a merger proposal with Enerflex Ltd to create a top integrated global energy infrastructure firm. The merged company will operate as Enerflex.

The business combination strengthens Enerflex’s ability to serve customers in energy transition, critical water, and natural gas markets. The all-stock transaction valued at $735 million will see the companies establish a firm with a $1.5 billion market cap.

Two private firms want to buy Kohl’s

On Monday morning, Kohl's Corp (NYSE: KSS) shares were up 35% after the retail chain disclosed takeover bids from two private companies. The potential buyers could shrink the retailer's real estate presence nationwide to raise capital, but Kohl is against that kind of sale-leaseback deal.

New York’s Sycamore Partners has proposed to buy the retailer for $65 per share, a 39% premium to where Kohl’s closed on Friday. Another private company looking to purchase Kohl’s is Acacia Research, backed by activist investor Starboard Value, which proposed to acquire the chain store for $64 a share.

IBM beats Q4 estimates

IBM Corp (NYSE: IBM) shares were up 6% after the company topped its Q4 results estimates. The company had a net income of $2.33 billion or $2.6 per share and $3.35 per share on an adjusted basis. IBM reported revenue of $16.7 billion, representing YoY growth of 6.4%. Analysts had predicted adjusted EPS of $3.3 on revenue of $15.96 billion. In addition, the company beat revenue estimates for all its three segments of Consulting, Software, and infrastructure.

Activist investor wants Peloton CEO out

Peloton Interactive Inc. (NASDAQ: PTON) shares were up almost 10% yesterday after activist investor Blackwell Capital elected to dethrone the company's CEO, John Foley. The activist investor equally suggested that the fitness products firm needs to sell to enhance its stock price.

According to Blackwell Capital, Peloton is an attractive candidate for purchase at its current price, particularly for tech behemoths such as Nike, Disney, Sony,  and Apple, that could use Peloton to expand their wellness and health footprint.

Cathie Wood dumps almost one million Twitter shares

Billionaire entrepreneur Cathie Wood has lost interest in social media stock, Twitter Inc. (NYSE: TWTR), barely a month after purchasing around one million shares of the microblogging site. Over the weekend, she sold almost a million Twitter shares for $34.5 million. Her current exposure in the stock has declined by 3.33 million shares only this month.