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Intel had snatched away VMware CEO Pat Gelsinger to replace Bob Swan and fix the troubled chip giant is weighing heavily on shares of both VMware and Dell Technologies, which has an 80.6% stake in the company. Last year, Dell (ticker: DELL) confirmed press reports that it was considering spinning off its VMware stake to current Dell holders. In such a transaction, VMware (VMW) would likely pay a large cash dividend back to Dell that the PC maker would then use to reduce its substantial debt load. Now, with VMware losing its iconic leader, there are concerns on Wall Str...

One analyst estimates that the deal could add $1.6 billion to the biotech’s revenue. The deal gives the drug an effective price of $2,100 a dose.

The entrance of a Carrefour supermarket in Rosny-sous-Bois on Nov. 3, 2020. Getty Images Shares in Carrefour, France’s biggest supermarket group, rose as much as 11% on Wednesday, after Canada’s Alimentation Couche-Tard said it was in early-stage takeover talks. The two firms are worth more than a combined $50 billion, and a deal would give the Montreal-based Circle K owner, which mainly sells groceries through its convenience store formats, access to Carrefour’s larger supermarket footprint and boost its presence in Europe and South America. The back story. Europe�...

By Lina Saigol Order Reprints Text size Telefónica will reduce its debt following the $9.4 billion sale of its mobile phone masts to Boston-based American Towers. Getty Images Shares in Telefónica soared almost 10% on Wednesday, after the Spanish telecom company struck a deal to sell its mobile phone masts in Europe and Latin America to U.S.-based telecom infrastructure operator American Tower for $9.4 billion in cash. The back story. European telecom companies have stepped up the sale of their valuable tower estates in recent years, as they...

Order Reprints Text size Home Depot could begin buying back stock this year, the analyst says. Al Bello/Getty Images Home Depot stock is getting a lift following an upgrade from Guggenheim, which says the home improvement retailer’s profits will rise thanks to recent investments. Analyst Steven Forbes raised his rating on Home Depot (ticker: HD) to Buy from Neutral, and established a $310 price target for the stock. The move comes on the heels of the company’s acquisition of HD Supply, its recent $3 billion debt offering, and a more moderate valuation, whic...