Driven Brands Holdings Inc (DRVN) News & EventsDRVNNews & EventsDriven Brands Holdings Inc

Driven Brands Rejects ADW's $18 Per Share Acquisition Proposal

Driven Brands Holdings announced that its Board of Directors has unanimously rejected ADW Capital Management, LLC's non-binding, highly conditional and unsolicited proposal to acquire Driven Brands for $18.00 per share in cash. Consistent with its fiduciary duties and in consultation with its financial and legal advisors, the Board carefully reviewed and evaluated ADW Capital's proposal. Following its review, the Driven Brands Board unanimously determined that ADW Capital's proposal is highly conditional and does not provide a credible basis on which the Company could proceed. Additionally, the Board concluded that ADW Capital's proposal significantly undervalues the Company in light of its long-term value creation opportunities and is therefore not in the best interest of Driven Brands and its shareholders. The Driven Brands Board and leadership team remain confident in the Company's strategy, long-term value creation opportunities and disciplined execution. The Board remains committed to acting in the best interests of all shareholders and to evaluating opportunities to maximize shareholder value.

Stocks Rebound as Retail Investors Submit Over $100B for SpaceX IPO

Stocks rebounded from one-month lows on Thursday as gains for chip producers offset risks of higher interest rates. AI infrastructure stocks continued to carry the momentum ahead of the SpaceX IPO tomorrow. Retail investors are said to have submitted more than $100B for the offering, due to be the largest in history. While the producer prices index pointed to accelerating price increases in May, bets on whether the Fed will raise rates this year were also influenced by President Trump calling off planned strikes against Iran and claiming that final points on a deal "have been, in both concept and great detail, approved by all parties involved."Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Oracleshares fell after the cloud giant's higher-than-expectedovershadowed strong quarterly resultsEatonannouncedits Mobility Group with Danain a Reverse Morris Trust transaction creating a combined company valued at over $10BMicrosoft'sXbox business planning significant layoffs next month,Humanaannounced anto divest its minority interest in end-of-life services provider GentivaNavanshares advanced after the AI-powered travel and expenses platform2. WALL STREET CALLS:Oppenheimerof SpaceXwith an Outperform rating and $195 price target ahead of tomorrow's initial public offeringIntelto Buy at BofA on increased foundry visibilityJefferiesGeneral Dynamicsto Buy on marine segment growthMoffettNathansonChewyafter Q1 reportAlexandria Real Estateto Underweight at Morgan Stanley3. AROUND THE WEB:Microsoftis restricting employees from using Claude Fable 5 because of Anthropic's new 30-day data retention requirements, The Verge saysA German regional court has ruled that Googleis directly liable for false claims in its AI-generated search overviews, The Decoder reportsSea'sShopee is cutting hundreds of developer jobs globally, Bloomberg saysOpenAI is considering significant price cuts for its AI services to compete with rival Anthropic, which it expects to make similar moves, WSJ reportsSoftBank'sdiscussions with potential creditors to raise $6B from a margin loan backed by its stake in OpenAI have stalled, Bloomberg says4. MOVERS:Stitch Fixgained after reporting, with EPS and revenue beating consensusVirgin Galacticincreased afterEvlivenfinished higher afterfrom the Phase 1 ENABLE trial of ELVN-001PureCycle Technologiesclosed lower after announcing aEnsign Groupfell after being targeted inthis week5. EARNINGS/GUIDANCE:Vera Bradleyreportedand backed its guidance for FY27Driven Brandsreportedand reaffirmed its outlook for FY26McGraw Hillreported Q4 results, with CEO Philip Moyeron "the strength of our strategy, the speed of our innovation and the depth of trust that we have from the education community"Lovesacprovidedand narrowed its outlook for FY27DXC Technologyits outlook for FY27 and FY29INDEXES:The Dow rose 929.97, or 1.86%, to 50,848.75, the Nasdaq gained 640.16, or 2.54%, to 25,809.66, and the S&P 500 advanced 127.31, or 1.75%, to 7,394.30.

Major Averages Rebound with Tech Support, Oracle Shares Decline

The major averages slightly rebounded from one-month lows on Thursday with support from the tech sector even though Oracle slumped as it will take on more debt to finance data centers. AI infrastructure companies are continuning their strong momentum as hyperscalers, including Oracle, keep spending on compute capacity.Meanwhile, President Trump stated that the U.S. will resume strikes against Iran tonight and capture the Iranian energy hub of Kharg Island "at some point" and a new PPI print pointed to accelerating prices in May, underscoring the impact of the war on price growth and aligning with recent bets that the Fed will raise rates this year.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Oracleshares fell after the cloud giant's higher-than-expectedovershadowed strong quarterly resultsEatontoits Mobility Group with Danain a Reverse Morris Trust transaction creating a combined company valued at over $10BMicrosoft'sXbox business planning significant layoffs next month,Humanaannounced an agreement toin end-of-life services provider GentivaNavanshares advanced after the AI-powered travel and expenses platform boosted its2. WALL STREET CALLS:Oppenheimerof SpaceXwith an Outperform rating and $195 price target ahead of tomorrow's initial public offeringIntelto Buy at BofA on increased foundry visibilityJefferiesGeneral Dynamicsto Buy on marine segment growthMoffettNathansonChewyafter Q1 reportAlexandria Real Estateto Underweight at Morgan Stanley3. AROUND THE WEB:Microsoftis restricting employees from using Claude Fable 5 because of Anthropic's new 30-day data retention requirements, The Verge saysA German regional court has ruled that Googleis directly liable for false claims in its AI-generated search overviews, The Decoder reportsSea'sShopee is cutting hundreds of developer jobs globally, Bloomberg saysOpenAI is considering significant price cuts for its AI services to compete with rival Anthropic, which it expects to make similar moves, WSJ reportsSoftBank'sdiscussions with potential creditors to raise $6B from a margin loan backed by its stake in OpenAI have stalled, Bloomberg says4. MOVERS:Stitch Fixgains after, with EPS and revenue beating consensusVirgin Galacticincreases after completing itsEnlivenhigher after presenting data from thetrial of ELVN-001PureCycle Technologieslower after announcing aOraclefalls afterand raising its guidance for FY275. EARNINGS/GUIDANCE:Vera Bradleyand backed its guidance for FY27Driven Brandsand reaffirmed its outlook for FY26McGraw Hill, with CEO Philip Moyer commenting, "McGraw Hill's growth in fiscal year 2026 underscores the strength of our strategy, the speed of our innovation and the depth of trust that we have from the education community"Lovesacand narrowed its outlook for FY27DXC Technologyfor FY27 and FY29INDEXES:Near midday, the Dow was up 0.77%, or 384.18, to 50,302.96, the Nasdaq was up 0.70%, or 175.46, to 25,344.96, and the S&P 500 was up 0.49%, or 35.59, to 7,302.58.