3 rumors were circulating on Wall Street today

3 rumors were circulating on Wall Street today

By Staff

โ€œBuy the rumor, sell the newsโ€ is rampant and well on Wall Street as the rumors continue to drive trading. Today, there were three interesting rumors that involved the trading desks:

  1. Wix (NASDAQ ๐Ÿ™‚ — Late Friday, activist hedge fund Starboard Value revealed a 9% stake in the Israeli technology company. According to reports, the activist will work with the administration as it tries to become profitable. Starboard will not target board seats at this time. Trust Securities analysts said activist participation could โ€œlead to improvements in execution and help unlock value in the business as Wix pursues its 20% MT FCF margin target along with healthy earnings growth.โ€ The company said it had and continues to have a “constructive engagement” with the hedge fund. We’ll see how long that will last.
  2. know 4 (NASDAQ:) – The security software company has received an offer of $24 per share from private equity firm Vista Equity Partners. The company said it would review the offer. A Cowen analyst exclusively told that the stock could easily be valued in the “medium to above $20” in an acquisition. The analyst sticks to his price target of $28.
  3. Palo Alto Networks (NASDAQ:) — The Center for Cyber โ€‹โ€‹Security is said to be close to acquiring a $600 million Israeli startup Apiiro, according to Calcalist.

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