Drug prices are on the rise and Asian stocks had a positive start to the week as we head into a new week of trading.
One of the biggest news stories of the coming days is Deutsche Bank AG (USA) (NYSE:DB) and its desire to reach a settlement with the U.S. Department of Justice as soon as possible.
Other companies making headlines over the weekend include Cabelas Inc (NYSE:CAB) and Tesla Motors Inc (NASDAQ:TSLA).
Here’s what’s going on:
Cabelas Inc (CAB)
Cabela’s may soon be owned by another leader in outdoor gear retail.
Bass Pro, LLC is looking to acquire the hunting and fishing gear provider as part of a consortium that also includes Goldman Sachs Group Inc (NYSE:GS) and Capital One Financial Corp. (NYSE:COF).
The deal may face resistance as both companies are among the leaders in their industry, raising antitrust concerns that could prevent the merger from being complete.
Cabela’s could be sold for more than $4 billion.
CAB stock is up 17.5% YTD.
Deutsche Bank AG (USA) (DB)
Deutsche Bank is racing to settle mortgage-backed securities fiasco.
After misselling securities, the German financial juggernaut is seeking to put its errors to bed by reaching a settlement with the U.S. Department of Justice.
Reaching such an agreement could cost Deutsche Bank up to $14 billion, with a Friday report suggesting the company would only have to pay $5.4 billion, causing DB stock to surge 14% then.
However, a report on Sunday claims that no settlement has been reached as both parties are still negotiating how costly this mistake will be.
Multiple financial institutions and the International Monetary Fund (IMF) are waiting eagerly as they could be affected by this move.
Deutsche Bank CEO John Cryan and the IMF will meet in Washington this week for the bank’s annual meeting with the agency.
Tesla Motors Inc (TSLA)
Tesla had its strongest quarter ever in terms of all-electric vehicles sales.
The company sold 24,500 of its iconic product, including 15,800 Model S sedans and 8,700 Model X crossovers, which is more than twice than the 11,603 of the year-ago period.
Elon Musk and co. have reiterated Tesla’s sales target of 50,000 for the second half of the year. If successful, this figure will be 90,000 for full-year sales.
Chief Financial Officer Jason Wheeler said in August that if the automaker reaches its second-half production and delivery targets, its chances “of being non-GAAP profitable” are strong. TSLA shares are down 14.1% over the last six months.
