Sainsbury's Up, Orsted Discount, Saab Falls
On this episode of Stock Movers:
- Sainsbury's terminated talks to sell its general merchandise unit Argos to JD.com Inc. and blamed the Chinese e-commerce firm for trying to “materially revise” the terms of the deal.
- Orsted plans to sell new shares at 67% below Friday’s close as the offshore wind developer works to rebuild investor confidence after a bet on the US market went wrong.
- Saab falls as much as 4.5% after the Times of India newspaper reported the Indian Air Force has proposed buying 114 “Made in India” Rafale fighter jets in a collaboration with Dassault Aviation. Saab has no information that India has rejected its Gripen fighter jets, the company tells Swedish paper Dagens Industri.
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