Top Business Headlines: Nike Insider Buys, Warner Bros. Bid, and Elon Musk's XAI Expansion

Market Movers and Insider Trading

• 📈 Nike shares are trading higher following significant insider buys by CEO Elliot Hill and board member Tim Cook.
• 💰 Hill purchased approximately $1 million worth of shares, with Cook making a nearly $3 million purchase.

Warner Brothers Discovery and Hostile Bids

• 🤝 Warner Brothers Discovery is reportedly expected to reject a hostile bid exceeding $100 billion from Paramount, Sky Dance, and Larry Ellison.
• ⚠️ Despite a personal guarantee from Ellison, the board has not finalized its decision but is anticipated to meet next week.
• 🚫 Both Warner and Paramount have declined to comment on the situation.

Highs Lowering Full-Year Outlook

• 📉 Highs has announced a reduced full-year outlook, citing property damage and cancellations caused by Hurricane Melissa in Jamaica.

Elon Musk's XAI Data Center Expansion

• 🚀 Elon Musk's XAI is expanding its massive data center facility near Memphis.
• 🏢 The company has acquired a third building in the area, which will increase its computing capacity to nearly 2 gigawatts.