European Economics Preview: UK GDP Data Due

Mimecast Rises 6% On News Of Acquisition By Private Equity Firm

Shares of e-mail and cyber security company Mimecast Ltd (MIME) are up 6 percent on Tuesday’s trading after news that the company will be acquired by private equity firm Permira.

Under the terms of the agreement, Permira will acquire all outstanding ordinary shares of Mimecast for $80.00 per share in an all-cash transaction that values Mimecast at an equity value of approximately $5.8 billion. The transaction is expected to close in the first half of 2022.

Upon completion of the transaction, Mimecast will become a privately held company and the ordinary shares of Mimecast will no longer be listed on any public market.

Currently at $79.85, the stock has traded between $38.84 and $85.48 during the past 52 weeks.

Saudi Arabian Airlines signs deal with CFM International worth $8.5 billion

  • Saudi Arabian Airlines strikes deal with CFM International worth $8.5 billion.
  • The state-owned carrier has ordered CFM International LEAP-1A engines to power its new fleet of Airbus aircrafts.

Saudi Arabian Airlines has signed an agreement with CFM International worth $8.5 billion at list prices, the carrier said in a statement on Saturday.

The state-owned carrier, also known as Saudia, said "it has ordered CFM International LEAP-1A engines to power its new fleet of 35 Airbus A321neo and 30 A320neo aircraft."

Houlihan Lokey Completes GCA Acquisition

Investment bank Houlihan Lokey (HLI), on Monday announced the successful completion of its acquisition of GCA Corporation. Following the acquisition of the outstanding shares of GCA last month, the two companies would now move forward together as one firm under the Houlihan Lokey banner.

Though the two firms would now be operating together under the Houlihan Lokey brand in Europe and the United States, the brand transition in Asia is expected to take place early in 2022.

The agreement under which Houlihan Lokey commenced a tender offer to acquire GCA for a total cash purchase price of approximately $591 million, was announced in August 2021.

Shares of Houlihan Lokey closed Friday’s trading at $105.12, down $3.78 or 3.47 percent from previous close.

Pre-market Movers: EFOI, EVBG, CNTX, AI, AOUT…

The following are some of the stocks making big moves in Friday’s pre-market trading (as of 06.50 A.M. ET).

In the Green

Energy Focus, Inc. (EFOI) is up over 37% at $4.86
Context Therapeutics Inc. (CNTX) is up over 28% at $8.03, Inc. (AI) is up over 20% at $38.60
eFFECTOR Therapeutics, Inc. (EFTR) is up over 15% at $7.75
Acer Therapeutics Inc. (ACER) is up over 15% at $2.49
Nutriband Inc. (NTRB) is up over 13% at $6.44
American Virtual Cloud Technologies, Inc. (AVCT) is up over 10% at $2.08′
Exact Sciences Corporation (EXAS) is up over 8% at $87.58

In the Red

Everbridge, Inc. (EVBG) is down over 30% at $80.61
American Outdoor Brands, Inc. (AOUT) is down over 19% at $17
Mesa Air Group, Inc. (MESA) is down over 18% at $5.79
MoSys, Inc. (MOSY) is down over 16% at $3.40
Chewy, Inc. (CHWY) is down over 10% at $50.43
O2Micro International Limited (OIIM) is down over 9% at $4.75
Sera Prognostics, Inc. (SERA) is down over 8% at $9.14
Mechel PAO (MTL) is down over 4% at $2.60

Target Recalls About 174,300 ‘Letters To Santa Mailbox"

Target (TGT) has recalled about 174,300 decorative mailboxes due to laceration hazard.

According to the retailer, the mail slot on the “Letters to Santa Mailbox” can be sharp, posing a laceration hazard. The company said it received nine reports of sharp mail slot openings and seven incidents of lacerations with three requiring medical attention.

The recall involves the Bullseye’s Playground Metal Mailbox. The mailbox was sold in red or white and measures about 7 inches in length, 3 inches in width and 10 inches in height. The words “Letters to Santa” are printed on the front of the mailbox in white or black letters.

Target has asked consumers to immediately stop using the recalled mailbox and return it to any Target Store for a full refund in the form of a Target gift card.

The recalled product, which was manufactured by Mast Work Handicraft Co. Ltd., of China, was sold at Target stores nationwide from October 2021 through November 2021 for $5 (single mailbox) and $10 (two-count mailboxes).

Live at 12:30 p.m. ET: Jim Cramer shares his 2022 game plan with the CNBC Investing Club

Jim Cramer provides his Investing Club with a real-time view into his Charitable Trust holdings. Jim will break down his most recent purchases, discuss the investments he got right and explain the lessons learned from what went wrong, while giving you his outlook for next year.

Click here to watch live, beginning Dec. 9, 2021 at 12:30 p.m. ET

European Economics Preview: UK GDP Data Due

Monthly GDP, industrial production and foreign trade reports are due from the UK on Friday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK monthly GDP data. The economy is forecast to grow 0.4 percent on month in October, following September’s 0.6 percent increase.

The ONS is also slated to publish UK industrial production and foreign trade figures. The visible trade deficit is seen at GBP 14.06 billion in October compared to GBP 14.74 billion shortfall in September.

In the meantime, revised consumer price data from Germany is due. Final consumer price inflation is seen at 5.2 percent in November, unchanged from the flash estimate.

Also, Statistics Norway releases consumer and producer prices for November. Inflation is expected to advance to 4.6 percent from 3.5 percent in October.

At 3.00 am ET, industrial production figures are due from Spain, the Czech Republic and Austria. Spain industrial output is forecast to expand 0.7 percent annually in October, but weaker than the 1.2 percent growth posted in September.

At 4.00 am ET, Italy’s Istat is slated to release industrial production figures. Economists forecast output to grow 0.4 percent month-on-month, after rising 0.1 percent in September.

At 4.05 am ET, European Central Bank President Christine Lagarde is set to speak at an event.