Stocks Lose Slightly as Earnings Week Begins

The Dow Jones Industrial average fell slightly to start a big week of earnings for the market, while traders kept an eye on surging rates and commodities.

The blue-chip index came closer to the breakeven point by session’s end, but still lost 39.54 points to 34,411.69.

The S&P 500 slipped 0.9 points to 4,391.89

The NASDAQ Composite dropped 18.72 points to 13,288.36.

Mega cap tech including Meta Platforms, Amazon, Microsoft and Alphabet finished the day higher after wavering back and forth over the flat line throughout the trading session.

Charles Schwab was the top decliner in the S&P, posting a 9.4% loss after the discount broker reported weaker-than-expected earnings and revenue for the first quarter. Bank of New York Mellon shares fell 2.2% after the company reported lower profits for the first quarter.

Bank of America’s quarterly results, reported Monday, showed a 13% year-over-year drop in earnings per share, though … Read more

Huge Takeover Premiums in Play as Another High-Profile Bid Causes Shockwaves to the Market

USA News Group – Once again Elon Musk has sent shockwaves with a tweet. This time Musk announced a “best and final” all-cash offer to buy 100% of Twitter Inc. (NYSE:TWTR) for $43 billion, paying $54.20 per share which represents a 54% premium over the January 28 closing price. Immediately the social media giant’s shares soared 18%, over the speculation of the offer being accepted. After a recent drop to pre-pandemic levels, moves like this show how 2022 is set to return to the record hot M&A activity seen in 2021. Other ongoing takeover offers are the premium bid for energy tech developers Petroteq Energy, Inc. (OTC:PQEFF), a $2.7 billion bid for Australian telecom Uniti Group Inc. (NASDAQ:UNIT), and GlaxoSmithKline plc (NYSE:GSK) offering $1.9 billion for Sierra Oncology, Inc. (NASDAQ:SRRA).

Unlike the hostile takeover proposed by Musk, clean technologies investment firm Viston United Swiss AG presented a friendly takeover … Read more

MINT at 52-Week High on Distribution News

MINT Income Fund (T.MID.UN) hit a new 52-week high of $7.21 Thursday. MINT announced that distributions for next month of four cents will be paid out on May 13 for investors of record on April 30.

Advantage Energy Ltd. (T.AAV) hit a new 52-week high of $10.30 Thursday. No news stories today.

AEX Gold Inc. (V.AEX) hit a new 52-week high of 70 cents Thursday. No news stories today.

Akita Drilling Ltd. (T.AKT.A) hit a new 52-week high of $2.84 Thursday. No news stories today.

ARC Resources Ltd. (T.ARX) hit a new 52-week high of $18.12 Thursday. No news stories today.

Asante Gold Corporation (C.ASE)hit a new 52-week high of $2.22 Thursday. No news stories today.

Artis Real Estate Investment Trust (T.AX.UN) hit a new 52-week high of $13.47 Thursday. No news stories today.

Birchcliff Energy Ltd. (T.BIR) hit a new 52-week high of $10.02 Thursday. No news stories today. … Read more