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Why Are These Stocks Trending on Monday?

In other news, United States Steel Corporation (NYSE:X) is trending after the company announced it has reached a tentative three year labor agreement with the United Steelworkers union, which will cover more than 18,000 workers at the company’s Texas, Alabama, and Ohio operations. Although the deal won’t be finalized until January or later, investors have bid up shares of United States Steel Corporation (NYSE:X) by 2% in morning trading so far. A labor deal that both sides can agree upon will preclude the possibility of a strike that would damage United States Steel Corporation’s fundamentals. Ray Dalio’s Bridgewater Associates owned 990,071 shares at the end of September.

Concluding our list of trending stocks are Live Nation Entertainment, Inc. (NYSE:LYV) and SFX Entertainment Inc (NASDAQ:SFXE). According to a Reuters article, Live Nation Entertainment, Inc. (NYSE:LYV) may be interested in acquiring part or all of SFX, but the company isn’t in a hurry to get any deal done because of SFX’s potential debt restructuring. A deal between Live Nation and SFX could help SFX bondholders realize some value in some scenarios. SFX Entertainment Inc (NASDAQ:SFXE) put itself on sale earlier this year and received some preliminary signs of interest, although nothing has been finalized, and it is unclear whether there is any value in the equity. SFX is up 7% and Live Nation is flat on the news.

Follow United States Steel Corp (NYSE:X)
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