Key insights
- Jefferies stock initially rose on buyout rumors from SMFG, but gains were pared back after reports denied immediate plans. Estee Lauder is in talks to merge with Puig, potentially creating a $40 billion cosmetics giant. Tesla's European sales rebounded in February, marking the first year-over-year increase in over a year. Overall, the news is slightly positive for the respective companies and the broader market.
Yahoo Finance Head of News Myles Udland takes a closer look at some of Tuesday morning's trending tickers and stories.
Jefferies (JEF) stock is moving higher after the Financial Times reported that Sumitomo Mitsui Financial Group (SMFG) is weighing a buyout of the firm. Bloomberg later reported that SMFG has no immediate takeover plans.
Estée Lauder (EL) is in talks to merge with Spanish beauty brand Puig (PUIG.MC).
Tesla's (TSLA) European sales are rebounding. The company reported a monthly sales increase in the region for the first time in over a year.
All right, time now for some of today's trending tickers.
We are watching Jeffries, Estee Lauder, and Tesla.
First up, Jeffries stock trading higher after a report from the Financial Times said that Japan's SMFG was weighing a buyout of the investment bank.
Now, a later report from Bloomberg said SMFG, Japan's second largest lender, has no immediate plans to take over Jeffries,
and CNBC citing sources later reported that Jeffries has no interest in selling the firm.
The company is set to report its quarterly results on Wednesday, March 25th.
Next up, Estee Lauder in talks to merge with Spanish beauty company Puig.
Puig is a family-controlled and as a family controlled company and owns popular brands like Byredo and Charlotte Tilbury.
The merger would create a cosmetics giant with a combined market cap of about $40 billion.
The talks are continuing and there is no guarantee that the companies will reach a deal.
And finally, Tesla seeing a sales rebound in Europe.
The EV maker's European sales rising nearly 12% year-over-year in February.
It marks the first time the company's European sales have risen on an annual basis since late 2024.