A deal for Spark could be announced Monday—if not sooner—at a price tag of nearly $5 billion, some of the people said. That would represent a big premium, given Spark had a market value of just under $2 billion as of Friday’s close. As always, the deal could still fall apart before the companies manage to make it official.
A measure that tracks expected turbulence in share prices, the Cboe Volatility Index, this week hit its lowest point since Oct. 3, placing the so-called fear gauge back at a level it reached before U.S. stocks descended into the worst quarter in seven years.
Markets interpreted the fact that Trump agreed to meet with Liu at 2:30 PM ET (19:30 GMT) on Friday as a sign that trade discussions were progressing and the implementation of an increase in U.S. tariffs on Chinese products on March 1 would likely be delayed.
Kraft Heinz said it faced unexpectedly higher costs last year, and it has seen significant pressure on the value of its brands since its $49 billion merger in 2015. The writedown caused Kraft Heinz to swing to a fourth-quarter loss, marking a striking reversal after several years of radical cost-management efforts and higher profit margins that were seen as a model for the packaged-food industry.
New orders for key U.S.-made capital goods unexpectedly fell in December amid declining demand for machinery and primary metals, pointing to a further slowdown in business spending on equipment that could crimp economic growth.
Minutes from the Federal Reserve’s January meeting released Wednesday showed unanimous agreement among officials to hold off on future interest-rate rises until a clearer picture on the state of the U.S. economy could be seen, though some members acknowledged the economic outlook was more uncertain since their previous meeting.
Lyft now expects to be valued at between $20 billion and $25 billion in its IPO, the sources said, adding that the roadshow is expected to last for about two weeks. The sources cautioned that the plans were still subject to change and market conditions.