It’s impossible for investors to be aware of every single story going on across Wall Street and Main Street.
Here is a summary of some of the more notable news announcements and reports that many investors may have otherwise missed.
Verizon Wants A Refund
Verizon (NYSE: VZ) agreed to acquire Yahoo (NASDAQ: YHOO) for $4.8 billion in what proved to be a long dragged out transaction. However, a series of concerning reports regarding Yahoo has been released after the merger agreements were finalized.
First, Yahoo revealed itself as a victim of a massive data breach in which 500 million accounts were hacked. As if this wasn’t damaging enough, it was reported that Yahoo has been ordered by a secret Foreign Intelligence Surveillance Court to scan emails of its users for terrorist activities and signatures.
With that said, Verizon has reason to be upset and concerned. And it now wants to pay $1 billion less for Yahoo, according to a New York Post report.
A source close to the situation told the New York Post that Tim Armstrong, head of AOL (owned by Verizon) is “getting cold feed” and is “pretty upset about the lack of disclosure.”
Shares of Verizon fell 0.68 percent on Friday to close at $49.92 while shares of Yahoo lost 1.05 percent to close at $43.22.
Deutsche Bank Looking Beyond Qatari Investors To Raise Cash
Deutsche Bank (NYSE: DB) could be on the hook for billions of dollars in fees it may not have as part of a settlement with the U.S. Department of Justice.
While tapping its largest shareholder, the royal family of Qatar, for a capital injection is one option, the Financial Times reported that it is also considering floating a minority stake in its asset management unit as part of an initial public offering.
Elon Musk Tweet
Elon Musk, the CEO and founder of Tesla (NASDAQ: TSLA) Tweeted on Friday that the electric car maker has tested its Autopilot feature a combined 222 million miles.
The Tweet could be a way of Musk reassuring concerned investors that its self-driving feature continues to be evaluated and improved on. The self-driving feature has been linked to at least the death of one Tesla driver although it has yet to be confirmed that Tesla is in any way at fault.