High-end steakhouse chain Del Frisco's has agreed to be acquired by L Catterton at $8 per share. The deal values the firm at approximately $650 million. Sure, we could warn that these kinds of mergers, along with all the hectic IPO activity this year, are a sign that the overall stock market may be nearing its peak. .
 | | Good morning. High-end steakhouse chain Del Frisco's has agreed to be acquired by L Catterton at $8 per share. The deal values the firm at approximately $650 million.
Sure, we could warn that these kinds of mergers, along with all the hectic IPO activity this year, are a sign that the overall stock market may be nearing its peak.
However, with a 52-week range between $4.61 and $13.55, the buyout price of $8.00 per share proves some truth to the obvious pun here: the stakes could have been higher.
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| | |  | DOW 26,727.54 | +0.03% | | |  | S&P 2,945.35 | -0.17% | | | | NASDAQ 8,005.70 | -0.32% | | | | | *As of market close | | | • | Stocks were mostly flat on Monday, as markets looked ahead to the G20 meeting this week. | | | | • | Bitcoin surged to nearly $11,000 over the weekend and into weekday trading, and gold rose another 1.4 percent on Monday as well. | | | |
| | | Markets Calm Despite Iran Sanctions, G20 Meeting This Week | | 
| | New sanctions announced against Iranian regime Monday. | | The stock market was largely calm on Monday, with stocks making an early push to hit new all-time highs. While the S&P 500 index has done so in recent days, the Dow Jones Index is within 100 points of its all-time high.
Traders were largely awaiting other events, including the G20 meeting later this week, where there may be some clarity on U.S./China trade relations. President Trump also unveiled sanctions against Iran.
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| | Sales Surge as McDonald's Moves to Fresh Beef | |  | | Fast food giant has roaring success with new policy. | | While many companies have been quick to embrace plant-based meat alternatives, McDonald's (MCD) has seen sales soar as it made a different move: from frozen beef to fresh beef.
One year ago, the company made the switch on its quarter pounder burger, and sales have risen by 30 percent. The company has even gained market share in the "informal eating out" category, a huge move for the fast food giant.
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| | | | Insider Activity: NGM Biopharmaceuticals (NGM) |  | | Another biopharma firm sees insider buying here. | | Insiders in the pharma and biotech space continue to be bullish near current prices at many companies. The latest insider buys in the space occurred at NGM Biopharmaceuticals (NGM).
Column Group LP, already a major owner with more than a 10 percent stake, bought another 34,000 shares late last week. These buys were shown as going to director Peter Svennilson. Director David Goeddel also picked up shares late last week as well.
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| | Unusual Options Activity: Fastenal (FAST) | |  | | Hardware and construction equipment company may be in for a big drop. | | A large bet has been made that shares of Fastenal (FAST) will decline 25 percent by January 2021.
On Monday, over 2,000 contracts of the January 2021 $25 put options contracts had been traded, against an open interest of 142, representing a 14-fold surge in volume. This bet, with shares currently at $32.50, would need to see shares decline at least 25 percent before paying off.
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| | | | TOP | | | EA | 3.85% | | | | CTVA | 2.94% | | | | ATVI | 2.701% | | | | NEM | 2.534% | | | | DOW | 2.523% | | | | BOTTOM | | | BMY | 7.418% | | | | WAB | 6.377% | | | | CELG | 5.5% | | | | HBI | 5.221% | | | | NLSN | 4.571% | | | | |
| | |  | | In the past, policymakers would hint of "monetary accommodation" (the so-called Fed put) to support the market following sharp sell-offs. Yet, the new comments by the Fed Chair was made at a time when stock prices already had strong momentum; it was almost like the Fed chair was sending a "buy" signal to investors. | - Joseph Carson, former Alliance Bernstein director, on the Fed's shifting stance  | |
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