Wells Fargo (NYSE:WFC), Tempur Sealy (NYSE:TPX) – A Wells Fargo-led consortium launched a $1.6 billion loan to finance Tempur Sealy International’s acquisition of Mattress Firm. The FTC seeks to block the deal, claiming it could harm competition and raise prices. The loan is one of the largest since 2021, according to Bloomberg.
HSBC (NYSE:HSBC) – HSBC is selling its private banking operations in Germany to BNP Paribas. The deal, involving 120 employees, will close in the second half of 2025, pending approvals. HSBC aims to streamline its operations, while BNP Paribas will strengthen its position in the German market with over €40 billion in assets. Shares rose 0.5% in pre-market trading, after closing 1.2% lower on Friday.
Tesla (NASDAQ:TSLA) – Elon Musk announced on X that SpaceX plans to launch five uncrewed Starship missions to Mars in the next two years. The success of these missions will determine the timeline for crewed missions in four years. If failures occur, the schedule may be delayed by another two years, depending on the challenges faced. Shares rose 1.0% in pre-market trading, after closing 2.3% lower on Friday.
General Motors (NYSE:GM) – General Motors will lay off 1,695 workers at its Fairfax, Kansas plant in two phases by January 2024. According to Reuters, the first phase will take place on November 18 and the second on January 12. GM will invest $390 million to produce the Chevrolet Bolt EV, with production resuming in 2025, resulting in temporary layoffs. In Ontario, Canada, CAMI plant workers approved a two-year contract with GM, with 95.7% voting in favor. The deal includes an immediate 10% wage increase, followed by 2% in September 2025 and 3% in July 2026, along with a 20.25% wage increase for skilled workers. Shares fell 0.4% in pre-market trading, after closing 0.5% higher on Friday.
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