FS Bancorp (FSBW) appointed Matthew Mullet as CEO, effective immediately.
He succeeds Joe Adams, who retired and will continue to serve as a director, the company said Monday in a statement.
Mullet has served as president and CEO of 1st Security Bank and as president of FS Bancorp and will continue in those roles, the company said. The appointment is part of the CEO succession plan announced on Aug. 15.
Price: $40.72, Change: $+0.01, Percent Change: +0.02%
Optimum Communications (OPTU) shares jumped 81% in Monday trading after the company reported a series of transactions involving a newly formed unrestricted subsidiary, CSC Investments II, designed to raise and allocate about $500 million in capital.The unit raised $300 million through a private placement of preferred units to third-party institutional investors. It also exchanged $200 million of preferred units for Optimum common stock held by controlling stockholder Next Alt at $2.50 apiece.Optimum said the newly created subsidiary will hold the Optimum East Cable business and its 50.01% stake in Lightpath, as part of an internal reorganization aimed at making the assets financially and operationally independent from its parent, CSC Holdings.Separately, CSC Investments II launched a cash tender offer for up to 120 million shares of Optimum class A common stock, or up to $300 million in value, at $2.50 per share. The company said the offer is not subject to a minimum condition or financing condition and will expire on June 30.The unit said it expects to fund the tender offer with proceeds from the private placement and existing cash.Price: $1.19, Change: $+0.53, Percent Change: +80.80%
Barrick Mining (B) is weighing a possible London listing for its African business, with the company also considering an all-share transaction with Endeavour Mining as an option, Reuters said Monday, citing two sources familiar with the matter.Discussions are at an early stage and that there is no certainty that a deal will materialize, according to the report.Under one scenario being explored, Barrick Mining would retain its Toronto listing as a holding company that would own shares in the North American-listed Barrick in New York and a separate Africa-focused entity listed in London, the report added.Barrick and Endeavour Mining did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $41.56, Change: $-0.99, Percent Change: -2.33%
The Dow Jones Industrial Average was down, while the S&P 500 Index and Nasdaq Composite were roughly flat in late-morning trading Monday, as oil prices rose after Iranian state media disclosed that Iran would halt messages with the US over Israel's military operations in Lebanon.In company news, Nvidia (NVDA) said Monday it has launched RTX Spark, a new AI chip that will feature in Microsoft (MSFT) Windows laptops and desktop personal computers. The chip features an Nvidia Blackwell RTX graphics processing unit, 1 petaflop of AI compute and 128gb of unified memory, Nvidia said. RTX Spark will power its Windows laptops, including Microsoft Surface, and those of its PC partners ASUS, Dell (DELL), HP (HPQ), Lenovo and MSI, Microsoft said in a blogpost. Nvidia shares were up 3.9%, while those of Microsoft, Dell and HP were up 2.0%, 8.5% and 7.2%, respectively.People Inc. said Monday it has submitted a non-binding proposal to acquire all outstanding MGM Resorts International (MGM) shares it doesn't already own for $48.30 per share in cash. The proposal represents a 24.1% premium to the volume-weighted average price of MGM common stock for the 30 trading days ending on May 29, People said. MGM shares were up 16.5%.Taylor Morrison Home (TMHC) has agreed to be acquired by Berkshire Hathaway (BRK.A, BRK.B) for $6.8 billion in cash and a total enterprise value of about $8.5 billion, the companies said Sunday. Berkshire will pay $72.50 per share, a 24% premium to Taylor Morrison's latest closing price of $58.50 on May 29, the companies said. The deal is expected to close in H2, at which point Taylor Morrison will continue to be managed by its existing management team, the companies said. Taylor Morrison shares were up 22.6%, while Berkshire's Class A and Class B shares were down 0.7% and 0.8%, respectively.Constellation Energy (CEG) has priced an underwritten secondary offering of 11 million shares at $281 apiece, the company said Monday. Underwriters have a 30-day option to buy an extra 1.35 million shares, and Constellation said it will repurchase 2 million shares from the underwriters at the offering price under its existing buyback program. Constellation shares were down 5.8%.Salesforce (CRM) said Monday it will invest $2 billion in France through 2030, including the launch of an AI Innovation Hub in Paris for developing, testing and deploying AI applications. Salesforce shares were up 10.2%.Price: $219.23, Change: $+8.09, Percent Change: +3.83%