U.S. Stocks Open Mixed on Wednesday; Wendy’s Jumps 15% on Trian Buyout Offer; Vertiv Surges 15%, SK Hynix Gains 10% on Earnings

Tiger Newspress10-28 21:31

The S&P 500 rose on Wednesday as investors awaited a rate policy decision from the Federal Reserve due Wednesday and earnings reports from mega-cap technology companies.

The broad market index added 0.2%, while the Nasdaq Composite advanced 0.3%. The Dow Jones Industrial Average traded around the flatline.

Nelson Peltz's Trian Fund Management ​has offered to ‌take Wendy's private in a deal valuing the ​burger chain ​at about $1.4 billion, a regulatory ⁠filing showed on ​Wednesday. Trian, a longtime ​Wendy's shareholder, is leading a group that has offered $7.35 ​per share in ​cash for the fast-food chain.

Shares of Vertiv Holdings soared after the artificial-intelligence infrastructure company’s earnings verified that the artificial intelligence build-out isn’t slowing as many may fear — it’s actually accelerating.

SK Hynix jumped 7%, The South Korean memory-chip maker reported stellar third-quarter earnings and said it expects demand to outpace supply through 2030. The record-breaking results also boosted shares of rivals Micron.

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