{"id":1258,"date":"2022-03-22T21:37:22","date_gmt":"2022-03-22T21:37:22","guid":{"rendered":"https:\/\/linksus.net\/stock-market-today-dow-jones-sp-500-opens-lower-anaplan-plan-to-be-acquired-by-thoma-bravo-kingsport-times-news\/"},"modified":"2022-03-22T21:37:22","modified_gmt":"2022-03-22T21:37:22","slug":"stock-market-today-dow-jones-sp-500-opens-lower-anaplan-plan-to-be-acquired-by-thoma-bravo-kingsport-times-news","status":"publish","type":"post","link":"https:\/\/linksus2.linksus.net\/index.php\/2022\/03\/22\/stock-market-today-dow-jones-sp-500-opens-lower-anaplan-plan-to-be-acquired-by-thoma-bravo-kingsport-times-news\/","title":{"rendered":"Stock Market Today: Dow Jones, S&P 500 Opens Lower; Anaplan (PLAN) To Be Acquired By Thoma Bravo – Kingsport Times News"},"content":{"rendered":"

On Monday, the Dow Jones Industrial Average<\/strong> ticked lower by 100 points. Today, a Boeing<\/strong> (NYSE: BA<\/a>) passenger jet crashed in China with 132 people on board. China\u2019s civil aviation authority said the Boeing 737-800 jet operated by China Eastern Airlines crashed on Monday in the southern region of Guangxi. There was no immediate word on the fate of the 123 passengers and nine crew members but investigations are ongoing. It is worth noting that the 737-800 has a good safety record and China\u2019s airline safety record has been among the best in the world.
Also, Nielsen Holdings<\/strong> (NYSE: NLSN<\/a>) is down by 10% on today\u2019s opening bell after it rejected a $9.13 billion takeover bid, worth $25.40 per share from a private-equity consortium. General Motors<\/strong> (NYSE: GM<\/a>) bought Softbank\u2019s $2.1 billion stake in its Cruise driverless-car division. The company also announced that it would invest an additional $1.35 billion in cruise, replacing funds that Softbank had pledged to provide. Manchester United<\/strong> (NYSE: MANU<\/a>) is up by over 5% today after Deutsche Bank upgraded the company to a Buy rating.
Among the Dow Jones leaders, shares of Apple<\/strong> (NASDAQ: AAPL<\/a>) are up by 0.01% today while Microsoft<\/strong> (NASDAQ: MSFT<\/a>) is down by 1.07%. Meanwhile, Disney<\/strong> (NYSE: DIS<\/a>) and Nike<\/strong> (NYSE: NKE<\/a>) are trading lower on Monday. Among the Dow financial leaders, Visa<\/strong> (NYSE: V<\/a>) is down by 1.39% while Goldman Sachs<\/strong> (NYSE: GS<\/a>) is also down by 1.05%.
Shares of EV leader Tesla<\/strong> (NASDAQ: TSLA<\/a>) are up by 2.56% on Monday. Rival EV companies like Rivian<\/strong> (NASDAQ: RIVN<\/a>) are down by 0.77%. Lucid Group<\/strong> (NASDAQ: LCID<\/a>) is down by 0.31% today. Chinese EV leaders like Nio<\/strong> (NYSE: NIO<\/a>) and Xpeng Motors<\/strong> (NYSE: XPEV<\/a>) opened lower today.
Following the stock market<\/a> opening on Monday, the S&P 500 is trading 0.20% lower while the Dow and Nasdaq are also edging lower by 0.36% and 0.75% respectively. Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust<\/strong> (NASDAQ: QQQ<\/a>) is down by 0.82% while the SPDR S&P 500 ETF<\/strong> (NYSEARCA: SPY<\/a>) is also down by 0.22%.\u00a0
The 10-year Treasury yield rose to around 2.24% this week. This follows last week\u2019s first interest rate hike in more than three years. Federal Reserve Chair Jerome Powell will speak at the National Association for Business Economics\u2019 annual conference at 12:00 p.m. ET today. Oil prices are also up on Monday, gaining 4% to $109 per barrel as the European Union nations consider joining the U.S. oil embargo on Russia.
U.S. President Joe Biden has also added a stop in Poland to his trip in Europe this week for urgent talks with NATO and European allies about Russia\u2019s invasion of Ukraine. Poland is a crucial ally in the Ukraine crisis and is hosting thousands of American troops and taking in more Ukrainian refugees than any other nation.
[Read More]<\/strong> Top Stock Market News For Today March 21, 2022<\/a>
In the news today is Anaplan<\/strong> (NYSE: PLAN<\/a>), a business planning software company. For the most part, the current buzz around Anaplan and PLAN stock is thanks to news of the firm being acquired. Thoma Bravo (TB), a private equity firm, is the one doing the buying here. Through the current deal, TB is set to acquire Anaplan for a whopping $10.7 billion. For a sense of scale, this would see Anaplan going for about $66 per share. As a result of all this, PLAN stock is now up by over 27% at today\u2019s opening bell.
Going into the details, Frank Calderoni, Anaplan\u2019s CEO, will remain at the helm even after the transaction. For one thing, the current deal is making quite a splash in the broader tech industry today. After all, Anaplan is a goliath in the enterprise software game now. This comes as over 1,900 major organizations employ its financial planning software worldwide. The likes of which include notable clients such as\u00a0 Coca-Cola<\/strong> (NYSE: KO<\/a>), Shell<\/strong> (NYSE: SHEL<\/a>), and VMware<\/strong> (NYSE: VMW<\/a>). Through the company\u2019s software services, companies across a vast array of industries receive actionable insights through proper financial planning.
All in all, the company\u2019s operations are vast and well established. So much so that it is seen as a competitor to the likes of SAP<\/strong> (NYSE: SAP<\/a>), Oracle<\/strong> (NYSE: ORCL<\/a>), and Microsoft<\/strong> (NASDAQ: MSFT<\/a>). Pair this with a steadily increasing demand for planning software as market uncertainties pile up and PLAN stock would be in the limelight.
[Read More]<\/strong> Stocks To Watch This Week? 4 Cyclical Stocks For Your List<\/a>
At the same time, Berkshire Hathaway<\/strong> (NYSE: BRK.A<\/a>) is making stock market headlines yet again this week. By and large, this is thanks to the firm\u2019s latest purchase. Diving in, Berkshire is acquiring the Alleghany Corporation<\/strong> (NYSE: Y<\/a>) for a massive $11.6 billion. The current all-cash transaction would price Alleghany at about $848.02 per share. By Berkshire\u2019s estimates, the deal will likely close by the end of 2022. Notably, this marks the largest acquisition for Warren Buffett\u2019s conglomerate since 2016. That would be when it purchases industrial firm Precision Castparts for $37 billion. In the words of the Oracle of Omaha himself, \u201cBerkshire will be the perfect permanent home for Alleghany, a company that I have closely observed for 60 years.<\/em>\u201d
In brief, Alleghany is an investment holding company that mainly provides insurance services. Overall, it owns operating subsidiaries and manages investments that are anchored in the property, casualty reinsurance, and insurance industries. As such, Berkshire would be buying into a vast business empire already. Worth noting, the company\u2019s core focus on insurance would also synergize well with Berkshire\u2019s portfolio. The reason for this being that insurance is among Berkshire\u2019s core businesses. Not to mention, the transaction is relatively small when you compare it to Berkshire\u2019s cash pile of $146.72 billion as of late 2021. Following this news, Y stock is up by over 24% today while BRK.A is gaining by over 1.5%.
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On Monday, the Dow Jones Industrial Average ticked lower by 100 points. Today, a Boeing (NYSE: BA) passenger jet crashed in China with 132 people on board. China\u2019s civil aviation authority said the Boeing 737-800 jet operated by China Eastern Airlines crashed on Monday in the southern region of Guangxi. There was no immediate word […]<\/p>\n","protected":false},"author":869,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/posts\/1258"}],"collection":[{"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/users\/869"}],"replies":[{"embeddable":true,"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/comments?post=1258"}],"version-history":[{"count":0,"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/posts\/1258\/revisions"}],"wp:attachment":[{"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/media?parent=1258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/categories?post=1258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/tags?post=1258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}