Diamonds and Dogs
Merger Monday. Getty Images (GETY), the photo and imaging company is jumping 38% after receiving a buyout offer from Trillium Capital for $10 a share. This following an open letter from Trillium telling Getty's board to find a buyer. Apparently, over the last two weeks, Trillium has decided to become a suitor, rather than a matchmaker. The downside is there are a number of contingencies for the deal and more importantly, Trillium doesn't have the money yet to buy the company.
AI is all the rage expect for this stock. C3.ai Inc (AI) is down 11% on a downgrade at Wolfe Research. The AI software provider was a popular AI stock, but the analyst at Wolfe expects sales to slow from 20% to 11% as the company transitions from to a subscription-based pricing model to a consumption-based model, which may not be a popular model for clients. Time will tell. Maybe they should ask their software if it will work?
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