Stericycle shares surge on acquisition reports
Waste disposal company stock Stericycle It surged more than 7% in premarket trading. Waste Management The company will be acquired for $7.2 billion.
Stericycle stock.
Waste Management will acquire Stericycle for $62 per share, about 20 percent above Stericycle’s closing price on Friday.
Brian Evans
GameStop shares surge 74% following Roaring Kitty’s latest post
GameStop shares have risen more than 74% amid speculation that Keith Gill, who sparked the 2021 short selling spree, may have a large position in the video game retailer.
Gill, who goes by the name DeepF—–Value on Reddit and Roaring Kitty on YouTube and X, posted a screenshot of what appears to be his portfolio, which shows more than 5 million shares of GameStop stock worth $115.7 million. The image also shows 120,000 call options on GameStop.
GME Rise
European markets opened higher
European markets on Monday extended last week’s gains and started the month higher as investors await the European Central Bank’s latest interest rate decision due later this week.
Britain’s FTSE 100 rose 0.63% to 8,326, Germany’s DAX rose 0.79% to 18,648 and France’s CAC rose 0.72% to 8,050. Italy’s MIB also rose 0.8% to 34,762.
Energy stocks rise after South Korean government approves exploration plans
South Korean energy stocks rose after the government approved exploration drilling for vast oil and gas deposits off the country’s east coast.
Korea Gas Corp.’s shares surged 29.87%, Daesung Energy rose 28.25%, SK Innovation rose 7.9% and SK Gas rose 15.97%.
South Korean President Yun Seok-yeo was reported to have said at a press conference that there was a “high probability” that the area contained as much as 14 billion barrels of oil and gas.
—Lee Ying-Shan
Indian shares hit intraday high as exit polls suggest Modi’s BJP coalition will win majority
India’s stock market overtook Hong Kong’s in December last year and is now the world’s fourth largest, with a market capitalization of more than $4 trillion.
Javier Ghersi | Moment | Getty Images
Indian stock index hits intraday high Nifty 50 Index It rose about 3% and the S&P BSE Sensex Total Return index rose about 2.6%.
Local exit polls over the weekend suggested that Prime Minister Narendra Modi and his Bharatiya Janata Party-led coalition government were on track to rule for an unprecedented third consecutive term.
According to a compilation of exit polls by local news station NDTV, the BJP-led National Democratic Alliance is expected to win around 365 of India’s 543 seats in the lower house of parliament.
But the final results, due to be released on Tuesday, may differ from what the exit polls predicted.
— Shreyas Sanyal and Charmaine Jacob
China’s factory activity surpasses expectations in May, expanding fastest in nearly two years
Private surveys showed China’s manufacturing activity expanded at its fastest pace in nearly two years, in contrast to official figures.
The Caixin survey showed the seasonally adjusted manufacturing PMI rose to 51.7 in May from 51.4 the previous month, the highest level since June 2022. It also beat a Reuters survey forecast of 51.5.
The private survey came after official data released on Friday showed China’s manufacturing sector unexpectedly contracted in May.
The Caixin survey also said business sentiment in China’s manufacturing sector remained positive in May on expectations of improving market demand at home and abroad to support production growth this year.
Shreyasi Sanyal
South Korea’s May manufacturing PMI expands fastest in nearly three years
South Korea’s manufacturing activity expanded at its fastest pace in nearly three years in May, according to a private survey.
South Korea’s key manufacturing purchasing managers’ index rose to 51.6 in May, recovering from April’s 49.4, which was the highest level since July 2021.
“Recovery efforts had appeared to plateau recently, but growth picked up in May as domestic and foreign demand strengthened and production growth reached its highest level in nearly three years,” said Joe Hayes, chief economist at S&P Global Market Intelligence.
Shreyasi Sanyal
Nvidia unveils latest AI chip model
Nvidia unveiled its new AI chips on Sunday, ahead of the latest models starting shipping to customers.
The new chip model is called “Rubin.” Nvidia announced its “Blackwell” chip in March. Huang said Sunday that Nvidia plans to release new AI chip models on a “yearly cadence.”
Nvidia’s shares have risen more than 120 points so far this year, even as other well-funded tech companies try to compete with the AI ​​leader.
— Jesse Pound and Rebecca Picciotto
Stock futures little changed
New York stock futures were little changed just after 6 p.m., with the three major contracts within 0.2% of flat.
Jesse Pound
Major economic reports this week
Here’s some of the economic and corporate news to watch this week. All times are Eastern time.
Monday, June 3
10:00 AM Construction Spending (April)
10:00 AM ISM Manufacturing Index (May)
Tuesday, June 4
JOLTS Jobs at 10AM (April)
Revenues: Hewlett Packard Enterprise, Bath & Body Works
Wednesday, June 5
10:00 AM ISM Services PMI (May)
Profit: Campbell Soup, Dollar Tree
Thursday, June 6
8:30 a.m. Unemployment claims
Revenue: J.M. Smucker Co.
Friday, June 7
8:30am May employment report
— Jesse Pound, Sarah Min
