Sep 3, 2020 - Economy & Business

Blackstone Group, GIP make offer on railroad operator Kansas City Southern

Dan Primack, author of Pro Rata

Illustration: Aïda Amer/Axios

The Blackstone Group and Global Infrastructure Partners have made a second offer to buy Kansas City Southern (NYSE: KSU), as first reported by the Wall Street Journal. No word yet on price, but any accepted deal expected to be worth north of $20 billion.

Why it matters: Kansas City Southern is one of North America's largest freight railroads, with a major share of traffic between the U.S. and Mexico.

  • Market reax: Kansas City Southern stock rose more than 4% on the news, giving it a current market cap of around $18.3 billion.
  • The bottom line: "Kansas City Southern is in the midst of implementing a new operating plan that calls for running fewer, longer trains on a tighter schedule. The overhaul will require fewer locomotives and railcars and has boosted the company’s profits and shares." — Cara Lombardo & Miriam Gottfried, WSJ

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Dion Rabouin, author of Markets
Sep 15, 2020 - Economy & Business

Nikola and the battle for the soul of the stock market

Data: FactSet; Chart: Axios Visuals

The fate of one of Wall Street's most polarizing stocks — embattled electric truck maker Nikola, the company accused of being an “intricate fraud built on dozens of lies” and now facing a reported SEC investigation — will be decided almost entirely by long-only investors and mostly by retail traders.

Why it matters: This could be the ultimate test of Wall Street's current buy-the-dip ethos and the option market mania that has driven equity prices and valuations through the roof despite a withering economy.

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Axios
Updated 39 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 4 p.m. ET: 30,873,714 — Total deaths: 958,383— Total recoveries: 21,103,559 — Map.
  2. U.S.: Total confirmed cases as of 4 p.m. ET: 6,788,343 — Total deaths: 199,421 — Total recoveries: 2,577,446 — Total tests: 94,211,463 — Map.
  3. Politics: Testing czar on Trump's CDC contradictions: "Everybody is right" — Ex-FDA chief: Career scientists won't be "easily cowed" by political vaccine pressure
  4. Education: What we overlooked in the switch to remote learning
  5. Health: The dwindling chances of eliminating COVID-19.
  6. World: England sets £10,000 fine for breaking self-isolation rules — The countries painting their pandemic recoveries green.
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Alexi McCammond
1 hour ago - Politics & Policy

Biden to Senate GOP after RBG passing: "Please follow your conscience"

Joe Biden made a direct appeal to Senate Republicans in a speech addressing the passing of Supreme Court Justice Ruth Bader Ginsburg, urging them to "cool the flames that have been engulfing our country" by waiting to confirm her replacement until after the election.

The state of play: Senate Majority Leader Mitch McConnell said soon after the news of Ginsburg's death that President Trump's nominee would get a vote on the Senate floor.

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