Company News for May 16, 2023

• ONEOK Inc.’s (OKE) shares plunged 9.1% after the company decided to acquire Magellan Midstream Partners L.P. (MMP) for $18.8 billion in cash and stocks.

• Newmont Corp.’s (NEM) shares surged 2.5% after the company decided to acquire Australian gold and copper producer Newcrest Mining Ltd.

• Shares of Western Digital Corp. (WDC) 2023 soared 11.3% following news that the company has speeded up merger talks with its Japanese joint venture partner Kioxia Holdings Corp.

• Shares of Shake Shack Inc. (SHAK) appreciated 7.8% following a WSJ report that the activist investor Engaged Capital is planning a proxy fight for three board seats at the company.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Western Digital Corporation (WDC) : Free Stock Analysis Report

Magellan Midstream Partners, L.P. (MMP) : Free Stock Analysis Report

ONEOK, Inc. (OKE) : Free Stock Analysis Report

Newmont Corporation (NEM) : Free Stock Analysis Report

Shake Shack, Inc. (SHAK) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research