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Roomba maker iRobot’s stock price plummets amid reports of Amazon takeover crisis
5 minutes ago
Shares of iRobot (IRBT), the company behind the Roomba robot vacuum cleaner, plummeted on Friday following reports that the company and its acquirer, Amazon (AMZN), are being targeted by EU antitrust regulators. It plummeted.
The Wall Street Journal on Thursday night reported that European Commission officials told Amazon representatives that the deal was likely to be blocked, according to people familiar with the discussions. The committee has until February 14 to make a final decision.
The deal was reportedly on track to receive unconditional approval from EU regulators in mid-November, and iRobot stock soared on the news. These reports came just days after regulators sent a public statement to Amazon expressing their objections and asked the company to offer concessions that would ensure it would not prioritize iRobot products in the marketplace. It turned out to be accurate.
Since then, the acquisition appears to be in jeopardy. Last week, Amazon missed a deadline to offer concessions, sparking speculation that the company might abandon the deal altogether.
iRobot stock plunged 30% in early trading Friday, trading around $17. Amazon shares fell 0.2%.
Macy’s stock is in the spotlight after news of layoffs and store closures – key levels to watch
36 minutes ago
Macy’s (M), a major department store retailer, has been in the spotlight on Thursday after announcing that it plans to cut about 2,350 jobs and close five stores in a bid to streamline costs and stem slumping sales. The layoffs will result in layoffs at the retailer’s headquarters and various stores.
The move follows the struggling retailer’s plans to open about 30 smaller stores in strip malls over the next two years, with larger stores seeking mobile devices and more convenient local options. They hope it will resonate with suburban shoppers who have been avoiding malls.
Source: TradingView.com.
Macy’s stock broke above a multi-month downtrend line in mid-November, indicating that many of the challenges facing the retailer may already be priced in. Additionally, the 50-day moving average recently broke above the 200-day moving average, generating a golden cross buy signal.
Keep an eye on the $17 level during the price retracement. This area is an area on the chart where support from the 50-day moving average may be encountered.
-Timothy Smith
Stocks that move the most before the market
1 hour 43 minutes ago
Profit:
- Wayfair Inc. (W): Shares of the furniture retailer rose 15% after the company announced it would lay off about 1,650 employees, or 13% of its workforce.
- Travelers Companies (TRV): The company’s stock rose more than 5% after quarterly results beat analysts’ expectations on the back of higher auto and home insurance premiums.
- NVIDIA (NVDA): Meta Platforms (META) CEO Mark Zuckerberg says the company is making AI a top priority and will spend billions of dollars on AI chips this year. After that, the chipmaker’s stock price rose more than 1%.
loss:
- iRobot (IRBT): The Roomba maker’s stock fell more than 30% after the Wall Street Journal reported that the European Commission plans to block Amazon’s (AMZN) $1.4 billion acquisition of the company. .
- Hertz Global Holdings (HTZ): Shares are down about 3.3% after Jefferies downgraded the stock from “buy” to “hold” as rising EV repair costs and depreciation costs will weigh on earnings in the near term. % fell.
Stock futures rise as S&P 500 approaches record high
2 hours 28 minutes ago
In premarket trading Friday, futures contracts tied to the Dow Jones Industrial Average rose 0.6%.
The S&P 500 also rose 0.6%.
Nasdaq 100 futures rose 0.8%.
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