Price: $442.01, Change: $-18.51, Percent Change: -4.02%
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Market Chatter: Carlyle Group Nears $3.5 Billion Deal to Sell Flender to Triton Partners
Carlyle Group (CG) is close to an agreement to sell Flender, a maker of mechanical and electrical drive technology, to European buyout firm Triton Partners for about 3 billion euros ($3.5 billion), Bloomberg reported Tuesday, citing people familiar with the matter.The deal may be announced as soon as this week, the report said.Carlyle did not immediately respond to a request for comment from.(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: $45.09, Change: $-0.02, Percent Change: -0.03%
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Update: Mastercard Shares Fall After Appointment of Ling Hai as CFO
(Updates with the latest stock movement in the headline and first paragraph.)Mastercard (MA) shares were down 2.6% in Tuesday afternoon trading after the company said it has appointed Ling Hai, president of Asia Pacific, Europe, Middle East and Africa, as the company's chief financial officer, effective Aug. 3.He succeeds Sachin Mehra, who will move into a newly created role as chief business officer, responsible for country operations across the globe, Mastercard said.Additionally, President of the Americas Linda Kirkpatrick will become chief services officer, succeeding Craig Vosburg, the firm said, adding that Vosburg will transition to vice chair and serve as a global ambassador for the company.Dimi Dosis, president of Eastern Europe, Middle East and Africa, will become chief commercial payments officer, succeeding Raj Seshadri, who will become a senior strategic advisor to the chief executive officer, Mastercard said.Price: $482.51, Change: $-12.74, Percent Change: -2.57%
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Top Midday Decliners
Abivax (ABVX) faces an increasing risk of a black box warning for obefazimod due to malignancies reported from a recent trial, Wedbush Securities said in a note.Shares sank 42% following an increase in intraday trading volume to over 14 million from a daily average of about 1.1 million.Fulcrum Therapeutics (FULC) shares slumped 52% amid heavy trading after multiple analysts downgraded the stock and sharply lowered their price targets.Intraday trading volume soared to more than 23.3 million shares from a daily average of about 910,000.Goldman Sachs downgraded Intuit (INTU) to sell from neutral while adjusting its price target to $276 from $519.Shares dropped over 8%, with intraday trading volume rising to more than 5.1 million versus the stock's daily average of about 4.12 million.Price: $74.19, Change: $-55.50, Percent Change: -42.79%
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