2 rumors lighting up trading screens today

Stocks staged an explosive rally on Thursday after the CPI report was cooler than expected, which stoked hope the Fed will slow the pace of rate increases sooner rather than later. Amid the gains, several rumors circulated Wall Street. Below we highlighted a couple:

IBEX Limited (NASDAQ: IBEX) gained nearly 14% following a Bloomberg News report the company is attracting preliminary interest from suitors including buyout firm CVC Capital. CVC has been speaking to banks about financing. Deliberations are said to be ongoing.

Seagen (NASDAQ: SGEN) fell 5% after it named David R. Epstein as CEO, which dashed M&A hopes. Merck (NYSE: MRK) was seen as a buyer of the company but an agreement couldn't be reached on price and now, with the new CEO, it appears SGEN has moved on.

By StreetInsider.com Staff

Want this type of news in real-time as it happens? Upgrade to StreetInsider.com Premium Here

You May Also Be Interested In

• Merck (MRK) PT Raised to $142 at BMO Capital
• Buy this freight stock on rate hike resilience: Citi
• Jefferies sees attractive value in this steel stock