Cross Country Healthcare rises amid rumors it was not discussed in FTC meeting
Cross Country Healthcare Stock Movement: Cross Country Healthcare's stock rose 5.5% amid speculation that it was not the focus of a Federal Trade Commission (FTC) closed-door meeting regarding its acquisition by Aya Healthcare.
FTC Meeting Speculation: Prior to the meeting, there were concerns that the FTC might discuss Aya Healthcare's planned $615 million purchase of Cross Country, but traders suggested the meeting was likely about a lawsuit against Live Nation and Ticketmaster instead.
Acquisition Details: Cross Country Healthcare received a second request from the FTC regarding the acquisition, and both companies confirmed compliance with the FTC's request as of August 29, with the deal expected to close in Q4.
Acquisition Agreement: Aya Healthcare has agreed to acquire Cross Country for $18.61 per share in cash, with the deal initially announced in December.
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Cross Country Healthcare CEO John Martins Resigns, Names Kevin Clark as Successor
Leadership Change: John Martins has resigned as President and CEO of Cross Country Healthcare, effective December 14, with Kevin Clark appointed as his successor.
Experience of New CEO: Kevin Clark, who co-founded the company and has nearly 40 years of experience in the healthcare staffing industry, will also continue as Chairman of the Board.
Market Reaction: Following the announcement, Cross Country Healthcare's stock rose by 4.83% to $8.90 in pre-market trading on the Nasdaq.
Disclaimer: The views expressed in the article are those of the author and do not necessarily reflect the opinions of Nasdaq, Inc.
Crude Oil Rises More Than 1%; Kroger Stock Declines Following Q3 Earnings Report
U.S. Stock Market Performance: U.S. stocks showed mixed results, with the Nasdaq Composite rising 0.2%, while the Dow fell slightly by 0.04%. Kroger's stock dropped 6% after reporting mixed quarterly results, despite beating earnings expectations.
Sector Movements: Industrials sector shares increased by 0.7%, while consumer staples stocks fell by 1.2%. Notable gainers included Polyrizon Ltd. (up 92%) and UiPath Inc. (up 22%), while Genesco Inc. saw a significant drop of 30%.
Commodity Prices: Oil prices rose by 1.5% to $59.85, while gold increased by 0.2%. In contrast, silver and copper prices fell by 2% and 0.5%, respectively.
Global Market Trends: European shares were generally higher, with the eurozone's STOXX 600 up 0.45%. Asian markets also closed mostly higher, led by Japan's Nikkei, which gained 2.33%.
