Stocks rebound, Bayer is buying Monsanto in a $66 billion deal

Wall Street is aiming for a rebound following three days of wild swings. All three major averages (^GPSC, ^DJI, ^IXIC) were higher in early trading despite further declines in oil prices (CL=F) f as concerns over interest rates ease.

Stocks to watch

Monsanto (MON) shares were higher in early trading. It’s finally official: The US seed giant is being bought by Germany’s Bayer for $66 billion, or $128 per share in cash. Bayer expects the deal to close at the end of next year.

Herbalife (HLF) jumped this morning after billionaire investor Carl Icahn said late yesterday that he asked regulators for permission to more than double his stake in the controversial nutritional supplements firm, which he currently owns a 21% stake in. Icahn also said that Herbalife may be better off as private company.

Viacom’s (VIAB) newly appointed board meets for the first time today. The discussions will likely focus on the media giant’s dividend policy, the possibility of recombining Viacom and CBS, and potential deals involving Paramount Pictures. This comes as the company struggles with declining ad sales and stock price.

Placing the blame at Wells Fargo

Wells Fargo (WFC) remains in focus after falling more than 3% on Tuesday, as Wells lost its spot as America’s biggest bank by market value to JP Morgan. This comes as CEO John Stumpf tries to contain the damage from the bank’s phony account scandal after paying $185 million to settle allegations the bank engaged in illegal sales practices. Stumpf says he won’t resign even though he holds himself accountable. He’ll face questions at a Senate Banking Committee hearing next week. In an interview with the Wall Street Journal, Stumpf laid blame on employees, not the bank’s culture. Is he doing himself any favors?

Trump Foundation faces new scrutiny

New York Attorney General Eric Schneiderman said he’s probing whether Trump’s charity is following all the laws covering non-profits. Trump’s spokesman fired back, calling Schneiderman a “partisan hack.” What are the stakes for Trump?

Uber debuts self-driving cars in Pittsburgh

Uber’s pilot program will start with four self-driving vehicles in Pittsburgh. Uber will put a driver and an engineer in the front to step in when necessary. Will this give Uber an edge in the competition with Google, Ford and others?

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