Shares in Lionsgate (LION) surged nearly 20% on Friday and were up nearly another 2% in pre-market trading on Monday morning, following reports that Legendary Entertainment was considering a takeover of the film studio.
Bloomberg reported on Friday that Legendary first approached the company after Lionsgate finalised its separation from Starz Entertainment Corp in May, citing people familiar with the matter.
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Lionsgate owns the rights to popular franchises John Wick and The Hunger Games, while Legendary is the studio behind the Dune trilogy. Legendary is backed by Apollo Global Management (APO), which owns Yahoo.
Spokespeople for Lionsgate and Legendary had not responded to Yahoo Finance UK's request for comment at the time of writing.
Hong Kong-listed shares in Nio (9866.HK) jumped more than 11% on Monday, after the Chinese electric vehicle company unveiled a new line of SUVs.
Nio founder and CEO William Li announced the start of pre-orders for its ONVO L90 SUVs at a launch event last week. According to statement from the company on Thursday, prices for SUVs will start at RMB 279,900 for full purchase and RMB 193,900 with Battery as a Service (BaaS) option.
Nio said that the ONVO L90 SUVs will officially be launched by the end of July, with deliveries starting on 1 August in the Chinese market. The seven-seater vehicle was designed by former Bentley designer Raul Pires.
Shares in Boeing (BA) were in focus after it was reported that the US Federal Aviation Administration (FAA) issued a notification that fuel switch locks on its planes were safe.
Reuters reported on Sunday that the FAA's Continued Airworthiness Notification to Civil Aviation Authorities said: “Although the fuel control switch design, including the locking feature, is similar on various Boeing airplane models, the FAA does not consider this issue to be an unsafe condition that would warrant an Airworthiness Directive on any Boeing airplane models, including the Model 787.”
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The notification on 11 July came after a preliminary report into Air India's Boeing 787-8 crash last month, in which 260 people were killed.
The report by India's Aircraft Accident Investigation Bureau (AAIB), released on Friday, said that fuel to the Boeing 787-8 Dreamliner engines was cut off shortly after the flight's take off on 12 June. The report said that switches controlling the fuel flow to the jet's engines had transitioned from “run” to “cutoff”, hampering the thrust of the plane.
