Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.1%), Nasdaq Composite (+0.3%), and DJIA (-0.2%) sit mostly higher at midday.

Despite the relatively muted action since this morning’s premarket drivers, there are a few notable stock-specific moves today related to mergers and acquisitions.

MGM Resorts (MGM 50.10, +6.44, +14.74%) is the best-performing S&P 500 name after confirming that it received an offer today from People Incorporated (IAC) to acquire all of the outstanding shares of the Company that it does not already own for $48.30 per share in cash.

Elsewhere, Berkshire Hathaway Inc. (BRK-B 469.49, -4.99, -1.05%) agreed to acquire Taylor Morrison Home (TMHC 71.60, +13.10, +22.39%) in an all-cash transaction valued at approximately $8.5 billion, marking one of the first major strategic deals under new CEO Greg Abel and the conglomerate's most significant bet yet on the long-term recovery of the U.S. housing market. The offer price of $72.50 per share represents a 24% premium to Friday's close, and the deal is expected to close in 2H26 pending shareholder and regulatory approvals.