Top Midday Stories: PTC to Be Acquired by Schneider Electric for $23.7 Billion; C.H. Robinson to Acquire RXO for $5.8 Billion

12:04 PM EDT, 10/05/2026 (MT Newswires) -- The S&P 500 Index and Nasdaq Composite were up in late-morning trading Monday, while the Dow Jones Industrial Average was down as Treasury bond yields continued to rise. President Donald Trump is planning to ease limits on the use of dyed red diesel, a tax-exempt variety of the fuel, Bloomberg reported Monday, citing people familiar with the matter. The Trump administration is expected to unveil the plan on Monday, the report said, citing the people. In company news, Schneider Electric said Monday it is acquiring PTC (PTC) in an all-cash deal valued at $23.7 billion. Schneider said it will pay $205 per PTC share, valuing the company's equity at roughly $22.6 billion and representing a premium of 42% to PTC's last closing price. The deal is expected to close by Q3 2027, Schneider said. PTC shares were up 34% near noon. C.H. Robinson Worldwide (CHRW) said Monday it has agreed to acquire RXO (RXO) in a cash-and-stock deal valued at $5.8 billion. Under the terms of the deal, RXO shareholders will receive $17.25 per share in cash and 0.0856 shares of C.H. Robinson common stock for each RXO share they own. RXO shareholders can also choose to receive an all-cash consideration of $30.25 per share or an all-stock consideration of 0.1992 shares of C.H. Robinson stock, the company said. C.H. Robinson shares were down 13.5%, while RXO shares were up 21.1%. SpaceX (SPCX) shares are "cheap and getting cheaper," Morgan Stanley analyst Adam Jonas said Sunday in a note. The shares have hovered around $150 per share since early August, and at $159, investors can take advantage of an opportunity to buy shares that, "while expensive on any trailing metric, look unusually cheap on the forward," Jonas said. SpaceX shares were up 5%. GE HealthCare Technologies (GEHC) said Monday it has entered a definitive agreement to acquire Sofie Biosciences for $945 million in cash. After the deal closes, expected in H1 of 2027, Sofie will become part of GE HealthCare's Pharmaceutical Diagnostics segment, while continuing to operate as an independent manufacturing partner for its existing customers, the company said. GE HealthCare shares were up 1.1%. Chevron (CVX) said Monday that Jeff Gustavson, who currently serves as president of its New Energies unit, has been appointed as chief financial officer, effective Jan. 1, 2027. Chevron shares were down 0.2%. Cenovus Energy (CVE) said it has agreed to acquire Athabasca Oil at an implied enterprise value of 5.7 billion Canadian dollars ($4 billion). Under the deal terms, each Athabasca shareholder will have the option to receive CA$12 in cash, 0.264 of a Cenovus share, or any combination for each share they own, the company said. Cenovus shares were down 3.6%. Price: 193.01, Change: +48.98, Percent Change: +34.00