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Waste Management to buy Advanced Disposal for $4.9B: Morning Brief

Monday, April 15, 2019

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WHAT TO WATCH

This week will be a short trading week, as markets close Friday in observance of the Good Friday holiday.

Earnings season is officially underway. Before market open, Aphria (APHA), Citigroup (C), Goldman Sachs (GS) and M&T Bank (MTB) will report earnings.

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TOP NEWS

Close-up of gray trash bin with logo for recycling and landfill company Waste Management, San Ramon, California, February, 2019. (Photo by Smith Collection/Gado/Getty Images)

Waste Management to buy Advanced Disposal: Waste Management Inc. (WM) said on Monday it would buy smaller rival Advanced Disposal Services Inc. (ADSW) in a deal valued at $4.9 billion, including debt. [Reuters]

Publicis surges as $4.4B Epsilon deal deepens data push: Publicis Groupe SA made its boldest move yet into digital marketing with the French advertising group’s $4.4 billion purchase of Alliance Data Systems Corp.’s Epsilon unit. The shares rose the most intraday in six months. [Bloomberg]

Trump slams Fed again: President Donald Trump, renewing his attack on the Federal Reserve, claimed the stock market would be “5000 to 10,000” points higher had it not been for the actions of the U.S. central bank. [Bloomberg]

U.S. waters down demand China ax subsidies: U.S. negotiators have tempered demands that China curb industrial subsidies as a condition for a trade deal after strong resistance from Beijing, according to two sources briefed on discussions, marking a retreat on a core U.S. objective for the trade talks. [Reuters]

American Airlines extends Boeing 737 MAX cancellations: American Airlines Group Inc. (AAL) said on Sunday it is extending Boeing Co. (BA) 737 MAX cancellations through Aug. 19, leading to about 115 daily canceled flights, or 1.5 % of its daily summer flying schedule. [Reuters]

Musk tweets another Tesla forecast amid SEC talks: Elon Musk, already in hot water over his Twitter use, posted another Tesla Inc. (TSLA) production forecast reminiscent of the one that landed him before a federal judge earlier this month. Musk wrote Sunday that Tesla will make more than 500,000 cars in the next 12 months. [Bloomberg]

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