Company News for Dec 12, 2023

• Macy's Inc.’s (M) shares soared 19.4% following news that the company received a buyout offer for $5.8 billion from two investment firms.
• Shares of The Cigna Group (CI) jumped 16.7% after the company decided to terminate its attempt to acquire competitor Humana Inc. (HUM) owing to price disagreement.
• Occidental Petroleum Corp.’s (OXY) shares rose 1% after the company decided to acquire privately held oil and natural gas producer CrownRock for $12 billion.
• Shares of Hasbro Inc. (HAS) were up 0.4% after the company retrenched 1,100 or 20% of its workforce due to weak toy sales in holiday season.

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