Strayer Education (STRA) has agreed to merge with smaller peer Capella Education (CPLA) in an all-stock deal valued at $1.9 billion. Strayer University and Capella University will continue to operate as independent and separately accredited institutions.
Axalta (AXTA) is in talks with Dutch paint maker Akzo Nobel about an Akzo purchase, with Akzo saying it was in "constructive talks" following Friday reports that the two might strike a deal. Akzo had been in the news earlier this year when it rejected a takeover bid from another US-based rival, PPG Industries (PPG).
U.S. drinks company Constellation Brands (STZ), a beer distributor that owns Corona, has agreed to buy a near 10 percent stake in Canopy Growth Corporation (TWMJF), the world's largest publicly traded cannabis company.
Novartis (NVS) is offering to buy French drug maker Advanced Accelerator Applications (AAAP) for $3.9 billion in cash, or $82 per share. Advanced Accelerator CEO Stefano Buono said the company backed the deal, which would help Novartis strengthen its oncology portfolio.
HSBC, Europe's largest bank, said today its pre-tax profit jumped 448 percent year-on-year in the three months ended September. The bank's third-quarter pre-tax profit was $4.62 billion, surging from $843 million in the same period a year ago.
Wells Fargo (WFC) may rid itself of a restriction put in place after last year's sales scandal, according to a Reuters report. People familiar with the matter say acting Comptroller of the Currency Keith Noreika wants to make it easier for Wells Fargo to pay employees when they leave. The restriction currently in place subjects any severance payouts to clearance by the OCC and the FDIC.
Insys (INSY) founder John Kapoor has resigned from the drug maker's board of directors, following his arrest last week on charges he bribed doctors to prescribe opioid drugs. Kapoor issued a statement saying he believes he will be fully vindicated after trial.
Nintendo (NTDOY) raised its full-year earnings forecast, following strong sales of its Switch videogame console during its fiscal second quarter as well as a much better than expected profit for that period.
