Shares of power producers declined alongside Treasury yields as the markets braced for key U.S. labor data on Friday and an expected interest-rate hold by the Fed next week.
Waste Management agreed to buy medical-waste-disposal company Stericycle for roughly $5.8 billion. Stericycle's operations would complement Waste Management's and give the bigger company a deeper foothold in the medical-waste-disposal sector, which enjoyed a sharp uptick in demand during the heights of the Covid-19 pandemic.
Shares of utility holding company Pinnacle West Capital fell after the company said it would offer $450 million in convertible senior notes due 2027 in a private placement.
Write to Patrick Sullivan at patrick.sullivan@wsj.com
(END) Dow Jones Newswires
06-03-24 1659ET
