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SolarCity (SCTY) — Tesla (TSLA) has reached a deal to acquire SolarCity that’s worth $2.6 billion. The all-stock agreement values SolarCity at $25.37 a share, according to Friday’s closing prices. The electric carmaker originally made the offer in June.
Etsy (ETSY) — Citi (C) initiated coverage on Etsy with a buy rating and a price target of $14, implying a 40% upside from Friday’s closing price. In a note to clients, Citi analyst Mark Kelley wrote, “Etsy has made steady progress expanding its take rate as sellers adopt its additive Seller Services products.”
AMC Entertainment (AMC) — The movie chain’s quarterly results fell below Wall Street estimates, posting earnings per share of 24 cents on revenue of $763.96 million. AMC CEO Adam Aron blamed a summer slump at the box office for the weaker-than-expected report.
Transocean (RIG) — The offshore drilling company has agreed to buy the rest of Transocean Partners (RIGP), its limited partnership that it formed two years ago, in a $514 million deal. Once the transaction is completed, Transocean Partners will be 100% owned by Transocean.
General Electric (GE) — The company has released detailed plans for its new global headquarters campus in Boston. General Electric says the space will open in 2018 and host about 800 employees.