On The Fly: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. China Oceanwide and Genworth Financial (GNW) announced that the Committee on Foreign Investment in the United States, or CFIUS, has completed its review of their proposed transaction and concluded that there are no unresolved national security concerns with respect to the proposed transaction. This satisfies one of the conditions to the closing of the proposed transaction. The closing of the transaction remains subject to other conditions, including the receipt of required regulatory approvals in the U.S., China and other international jurisdictions. 2. KKR (KKR) is nearing an agreement to acquire U.S. physician services provider Envision Healthcare (EVHC) for $46 a share, or about $5.5B, according to Reuters, citing a person familiar with the matter. 3. Fast growth in grid storage will make wind power even more competitive, which is good news for utilities with plenty room to add wind capacity like American Electric (AEP) and Xcel (XEL) and for wind developers like NextEra (NEE), Jack Hough wrote in this week's edition of Barron's. Nuclear-heavy companies in deregulated markets like Exelon (EXC) and Public Service Enterprise Group (PEG), on the other hand, could face rising competitive pressures, he added. 4. The female-fronted "Ocean's 8" opened over the weekend to a $41.5M from 4,145 theaters to place number 1 in North America. Overseas, the Warner Bros. (TWX) and Village Roadshow pic grossed $12.2M for a global start of $53.7M. "Ocean's 8" earned a B+ CinemaScore and sports a 68% Rotten Tomatoes score. 5. AbbVie (ABBV), Pfizer (PFE), Merck (MRK), Bristol-Myers Squibb (BMY), Johnson & Johnson (JNJ), Eli Lilly (LLY), Southwest (LUV), BMW (BMWYY), Volkswagen (VLKAY), Altaba (AABA) saw positive mentions in Barron's.