EchoStar Rises, PNC Drops, Robinhood Gains After Being Added to S&P 500
On this episode of Stock Movers:
- EchoStar (STATS) shares rise after Elon Musk's SpaceX agreed to acquire wireless spectrum from EchoStar for about $17 billion. SpaceX said it is buying EchoStar’s AWS-4 and H-block spectrum licenses designated for satellite and mobile communications.
- PNC (PNC) shares drop after the firm agreed to buy FirstBank Holding for about $4.1 billion to add $26.8 billion in assets and branches in Colorado and Arizona. The transaction is expected to be completed early next year
- Robinhood (HOOD) shares gain after the company was added to the S&P 500. By joining the S&P 500, Robinhood enters the portfolios of index funds, pension plans and retirement accounts across the world.
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