By Geoffrey Smith
Investing.com -- Stocks in focus on Monday, 10th February. Please refresh for updates.
- Taubman Centers Inc (NYSE:) soared over 52% to a nine-month high after rival mall owner Simon Property (NYSE:) bid $3.6 billion for the group. Simon was up 1.3% on hopes that the two will be able to streamline their portfolio to address the constant crush on margins generated by the march of online shopping
- HP Inc (NYSE:) stock rose 4.7% after Xerox (NYSE:) raised its offer for the maker of PCs and printers to $24 a share from $22 earlier. The latest offer comprises $18.40 in cash and 0.149 Xerox shares for each HP share, valuing the company at about $35 billion.
Xerox (NYSE:), whose stock fell 1.5% on the news, had had an initial $33.5 billion cash-and-stock offer for HP rejected in November, HP saying that it undervalued the company.
Exxon Mobil (NYSE:) stock resumed its recent declines, dropping 1.2% to $60.73 amid continued concern about the safety of its dividend in the current low price environment, and amid perceptions that the company has been slow to wake up to the climate-related risks in its balance sheet.
The stock is now barely 1% above the 10-year low it hit last week.
Allergan (NYSE:) stock rose 0.1% after the company reported earnings and revenue that came in ahead of expectations in the final quarter of 2019.
The drugmaker also said it expected its merger with AbbVie (NYSE:) to complete by the end of March. With completion so near, the company declined to give pro forma guidance for the year.