27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday, November 8, 2017.
AT&T CFO Says Timing of Time Warner Deal Closing Uncertain
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
The CFO Comment
AT&T Inc. (NYSE:T) CFO John Stephens said Wednesday in an interview with Reuters that he's unsure about the timing of his company's planned takeover of Time Warner Inc. (NYSE:TWX) due to regulatory review. Stephens said he expected the deal to close in 2017.
Financial Times reported later that AT&T must sell CNN in order for the deal to be approved. In response to the report, AT&T CEO Randall L. Stephenson told CNBC, "Until now, we’ve never commented on our discussions with the DOJ. But given DOJ’s statement this afternoon, it’s important to set the record straight. Throughout this process, I have never offered to sell CNN and have no intention of doing so."
AT&T closed at $33.44, up 37 cents. Time Warner closed at $88.50, down $6.16.
Rent-A-Center Rejects Vintage Capital's Proposed Exclusivity Agreement
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
The Rejection:
Rent-A-Center Inc (NASDAQ:RCII) announced it had sent a letter to activist investor Vintage Capital in response to a proposal requesting an exclusivity agreement. Vintage in a 13D filing on Nov. 3, offered $13 per share to acquire Rent-A-Center.
Rent-A-Center said, "Given the early stage of the strategic review and the level of inbound interest from other parties, we do not believe it is in the best interests of our stockholders to enter into an exclusivity agreement with Vintage at this time."
Rent-A-Center closed at $10.35, up 20 cents.
Lead Bidder to Acquire NRG Yield Surfaces
The Rumor
Shares of NRG Yield (NYSE:NYLD) rose as SparkSpread reported that a private equity investor that has participated in several recent renewable energy portfolio auctions is now a leading bidder to acquire the power generation company. NRG Yield recently formed a partnership with NRG Energy (NYSE:NRG) to invest up to $50 million in a portfolio of distributed solar assets.
NRG Yield closed at $19.55, down $0.05.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.