Two News Items That Rocked US Market
Emerson Electric Co. $(EMR)$ said Wednesday it agreed to acquire National Instruments Corp. $(NATI)$ for $60 per share in cash, at an equity value of $8.2 billion.
The price amounts to a 14% premium over its closing price of $52.58 on Tuesday.
It's also a premium of 49% over NI's closing share price as of Jan. 12, prior to its announcement of a strategic review.
The deal comes after reports of a potential tie-up between the two companies was reported by Bloomberg.
Emerson currently owns about 2.3 million shares of NI, or 2% of shares outstanding.
"With this expansion into test and measurement, Emerson will enhance its automation capabilities and gain a broader set of customers that relies on NI's solutions at critical points along the product development cycle," Emerson CEO Lal Karsanbhai said.
Emerson plans to close the acquisition of NI in the first half of its fiscal 2024. Emerson Electric stock is down 1.7% in premarket trades, while National Instruments was up 9.53%.
The other hot news is ContextLogic (WISH) tumble down from the Reverse Stock price of $9.81.
Trading Expectations (WISH) For The Upcoming Trading Day Of Wednesday 12th
For the upcoming trading day on Wednesday, 12th we expect ContextLogic Inc. to open at $0.356, and during the day (based on 14 day Average True Range), to move between $0.218 and $0.376, which gives a possible trading interval of +/-$0.0487 (+/-14.89%) up or down from last closing price. If ContextLogic Inc. takes out the full calculated possible swing range there will be an estimated 29.77% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.392, some $0.0654 (20.01%) from the current price of $0.327, our system finds the risk reward not very attractive.
Insiders are negative selling more shares than they are buying in ContextLogic
In the last 100 trades there were 5.09 million shares bought and 7.8 million shares sold. The last trade was made 28 days ago by Wang Shuyan (rachel) who bough 1.23 thousand shares. In general the insiders are selling more stocks than they buy. There can be a variety of reasons for this, but in general it can be considered as a negative signal.
$6.54 to $9.81
$0.218 to $0.327
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If WISH app open to all over the world's local manufacturers to register and sell their products on it . WISH will be alive.