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Company News for May 16, 2023

Zacks Equity Research
·1-min read

  • ONEOK Inc.’s (OKE) shares plunged 9.1% after the company decided to acquire Magellan Midstream Partners L.P. (MMP) for $18.8 billion in cash and stocks.

  • Newmont Corp.’s (NEM) shares surged 2.5% after the company decided to acquire Australian gold and copper producer Newcrest Mining Ltd.

  • Shares of Western Digital Corp. (WDC) 2023 soared 11.3% following news that the company has speeded up merger talks with its Japanese joint venture partner Kioxia Holdings Corp.

  • Shares of Shake Shack Inc. (SHAK) appreciated 7.8% following a WSJ report that the activist investor Engaged Capital is planning a proxy fight for three board seats at the company.

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Magellan Midstream Partners, L.P. (MMP) : Free Stock Analysis Report

ONEOK, Inc. (OKE) : Free Stock Analysis Report

Newmont Corporation (NEM) : Free Stock Analysis Report

Shake Shack, Inc. (SHAK) : Free Stock Analysis Report

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Zacks Investment Research