Stock Market Today: Dow Futures Near Record as Earnings Reports Resurface
Market Overview
Stock Market Today highlights Dow futures trading closely to record levels as we embark on the first full week of third-quarter earnings. This week brings critical updates that could influence market trajectories.
B. Riley Financial Inc. Asset Sale
B. Riley Financial Inc. experienced a notable 18% increase in stock price early Monday following the announcement of its agreement to sell its appraisal and valuations unit, Great American, to asset management giant Oaktree Capital for nearly $400 million. This deal, which has received board approval, is expected to conclude in the fourth quarter.
- The financial breakdown of the transaction includes:
- Approximately $203 million in cash
- Class B preferred units worth $183 million in the new holding company for Great American
- About 47% of new Class A equity
As investors analyze these corporate maneuvers, the broader implications for the stock market and economic landscape come into sharper focus.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.