The Dow Jones climbed another 464 points in Wednesday trading to close at 32297, topping 32k for the first time, as The Nasdaq dropped 5 to close at 13068 by the end of the session. The bellwether S&P was gained 23 to close at 3898 by the end the Hump Day Trading.
GE to merge aircraft leasing unit with rival AerCap in a $30 billion deal as industry faces more pandemic turmoil General Electric on Wednesday said it will sell its jet leasing business to rival AerCap in a deal valued at $30 billion, a move that would create a massive lessor as the aviation industry struggles through the Covid-19 pandemic and
GE moves to reduce its debt load. The deal would give GE a 46% stake in the combined company and generate about $24 billion in cash. GE Shares closed at 13 dollars a share on the news.
Rocket Stock Is the New Meme Trade. Move Over, GameStop.
Rocket, the parent of Quicken Loans, has surged 28% this week. You can’t go anywhere without hearing their ads on Radio or seeing them on TV, and now Rocket Mortgage is the King of Memedom as The individual investors that powered GameStop Corp.’s meteoric rise have a new target: Rocket Cos., the parent company of Quicken Loans[JB1] . Like GameStop, Rocket is heavily shorted. As of this week, 46% of its shares available for trading were being shorted by investors betting the price would fall, according to S3
Partners, a data-analytics firm. That was up from about 33% in late January and 17% in mid-September, according to FactSet, closing at 25.95 in Thursday trading
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