Business

Stock Market Moves Amid Corporate Deals

Updated 2026-10-28 13:20 UTC 1 source Positive

Wendy's shares surged 15% after a $1.4 billion buyout offer from Trian Fund Management. CNBC also analyzed the correlation among stocks in the Magnificent Seven group, finding it breaking down.

Coverage timeline — 2 articles

CNBC

The 'Magnificent Seven' is no more. Time to pick winners and losers as group's correlation breaks down

CNBC calculated the rolling 60-day correlation of daily returns for each of the 21 unique pairs among the Magnificent Seven.

2026-10-28 13:09 UTC

CNBC

Wendy's shares jump 15% as Nelson Peltz's Trian offers $1.4 billion to buy burger chain

Wendy's has endured a tough two-year stretch as diners eat out less often.

2026-10-28 13:12 UTC