Keep pulling the thread on Closing Bell.
Activist investor Elliott Investment Management has taken a stake in Dexcom and reached a settlement to appoint two new independent directors to the board.
Private equity firms Blackstone and Clayton, Dubilier & Rice are reportedly exploring potential acquisition bids for Magnum ice cream, according to Reuters.
Investment firm Earth Capital is reportedly working with Papa John's largest U.S. franchisee to take the company private, according to Reuters.
Cerebras Systems' IPO was priced at $185 per share, and the stock closed up by approximately 70% on its first day of trading.
The 10-year and 30-year Treasury yields reached their highest levels in approximately one year.
Brent crude contracts were trading at $109 a barrel.
WTI crude oil was priced at $105.60 a barrel.
The S&P 500 index finished the trading day approximately 1.2% lower.
The Nasdaq index closed down by approximately 1.5%.
Dexcom's stock (DXCM) finished the day up approximately 6.5%, after reaching an intraday high of over 9%.
Dexcom's stock rally was driven by a long-term growth outlook presented at its Investor Day that impressed analysts.
Dexcom's market capitalization has declined from a peak of over $63 billion in 2021 to approximately $23 billion today.