On this edition of Stock Movers:
- StubHub (STUB) shares declined 6.4% in the ticketing platform’s debut after raising $800 million in an initial public offering. Shares of the New York-based company closed at $22 each on Wednesday, erasing an initial gain. The firm had sold 34 million shares Tuesday at $23.50, after offering them for $22 to $25 each. The trading gives StubHub a market value of about $8.1 billion based on the outstanding shares listed in its earlier filings.
- Workday (WDAY) shares rose today after Elliott Investment Management unveiled a $2 billion-plus investment in Workday Inc., sending its shares up as much as 10% Wednesday. The activist investor said Workday Chief Executive Officer Carl Eschenbach and his team have made “substantial progress” in recent years driving growth and customer retention, according to a statement Tuesday. Workday announced on its analyst day on Tuesday a $1.1 billion acquisition of artificial intelligence company Sana. It also said it is partnering with Databricks Inc., Salesforce Inc. and Snowflake Inc. to allow access of human resources and finance data on its platform. “We are pleased with our dialogue with the team and believe the plan announced at today’s financial analyst day represents a significant enhancement of Workday’s operating model and capital allocation framework,” Elliott said in the statement.
- Hologic (HOLX) shares soared today after Blackstone Inc. and TPG Inc. have revived their interest in acquiring medical device maker Hologic Inc., according to people familiar with the matter. The investment firms have re-engaged with Hologic’s board in recent weeks about a potential takeover of the company, the people said, asking not to named because the matter is private. Blackstone and TPG are in the process of conducting due diligence, they said.
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