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News On The Move: Hurricane Sally, Macy’s Thanksgiving parade goes virtual, Mets deal finalized

Yahoo Finance’s Adam Shapiro and Julie Hyman cover Tuesday’s trending stories.

Video Transcript

ADAM SHAPIRO: People in Florida, Alabama, and Louisiana are preparing for severe flooding as hurricane Sally moves on land. Hurricane Center director, Ken Graham, says the rain from hurricane Sally along with storm surge could pose an, this is a + "an incredibly dangerous problem." The category 1 storm is moving at just two miles per hour and expected to drop up to 30 inches of rain on parts of the Gulf Coast. Forecasters also say people who live inland could face destructive tornadoes.

JULIE HYMAN: It is going to be a very different Thanksgiving parade watching party at my cousin Janet's this year and at many other families. The 94th annual Macy's Thanksgiving Day Parade will be held without the packed New York City crowds, combining a mix of lived and taped elements to air on NBC. Another big change to the processional, participants must be 18 years of age. That means no high school marching bands. Their invitations will be deferred until next year.

ADAM SHAPIRO: Proof you should never give up. Hedge fund billionaire, Steven Cohen, has a deal, again, to buy the New York Mets. The sports website, Sportico, reports Cohen will owe 95% of the team with the Wilpons and Katz families retaining the other 5%. Now, the sale values the Mets at $2.42 billion but still needs approval from Major League Baseball owners who meet in November. Cohen, by the way, closed SAC Capital Advisors, his hedge fund, in 2016 after the firm pled guilty to insider trading and paid $1.2 billion in penalties.

And Kathryn Farmer will be the first female CEO of a major railroad company in North America. Farmer takes the controls at BNSF Railway at the end of the year. BNSF, owned by Berkshire Hathaway, joins female CEOs at some of the company's other holdings, Farmer that is, Ben Bridge Jeweler, Fruit of the Loom, and General Re.