SecureWorks (NASDAQ:SCWX) gains after Bloomberg sources say Dell (NYSE:DELL) could purchase the remaining outstanding shares of SCWX that Dell doesn’t already own. Dell would then consolidate the business.
Dell currently owns about 86% of SecureWorks and holds over 98% of the voting power.
The acquisition plan, which is in the early stages and could still change, veers from Dell’s earlier idea to sell its stake in the company.
SCWX shares are up 13.9% to $17.29.
Post updated with additional information.
Rowe Price (TROW -0.4%) leads and Amazon (AMZN +0.2%) and Ford (F -0.6%) joins the $1.3B investment round for electric vehicle company Rivian.
The startup plans to build the all-electric pickup R1T and the R1S SUV in late 2020.
The designs include a chassis with electric motor, batteries, and controls that can fit into a variety of body styles.
Rivian had a valuation of $5-7B before this round.
Verizon (VZ -0.7%) surpasses its goal of offering ultra wideband mobile 5G in over 30 cities in 2019. VZ beat the goal by one city, and the service is only available in parts of each location.
VZ crossed the goal with today’s announced additions of Cleveland and Columbus, Ohio, and Hampton Roads, Virginia.
Rival AT&T (NYSE:T) has 5G for mobile users in 10 cities. T-Mobile (NASDAQ:TMUS) has a nationwide low-band 5G network.
Lyft’s (LYFT -5.1%) e-bikes are back in San Francisco after the rentals were pulled following battery-related fires in July.
The ride-hail company will roll out hundreds of bikes each week until hitting 4,000 next April, which is the number approved in the new four-year agreement with the San Francisco Municipal Transportation Agency.
Last month, Lyft said it had identified the root cause of the battery issues and decided to work with a different supplier.
PayPal Holdings (PYPL +0.5%) will continue to pursue potential takeover targets next year and expects to keep to its plan of $1B-$3B of annual transactions per year.
“There’s a lot of opportunities to acquire companies inorganically,” PayPal CFO John Rainey told the Wall Street Journal in an interview.
With valuations in the payments sector rising in the past two years, PayPal will have to be selective in what it buys, according to analysts.
That’s a discipline that will continue, Rainey said. “For every transaction that we do, there are dozens that we turn away,” he said.
PayPal closed on acquiring a 70% equity stake in GuoFubao Information Technology, also called GoPay, in China last week, and in November agreed to pay ~$4B for shopping platform Honey Science.
