Dayforce is the top-performing stock in the S&P 500 on buyout reports

Dayforce rocketed 28% to top Monday’s S&P 500 leaderboard after Bloomberg reported that private equity giant Thoma Bravo is in advanced talks to acquire the HR software provider.

Though the deal has yet to be finalized, Bloomberg reported that people familiar with the matter say an announcement could come in the next few weeks. Still, they caution the process could drag on or attract competing bids.

Dayforce’s rally builds on momentum from earlier this month, when the company posted better-than-expected Q2 results fueled by strong bookings and a record backlog of contracts. That strength comes against a tough backdrop: the company has struggled to sustain sales growth since pandemic-era demand faded.

With today’s pop, Dayforce shares are still down about 5% year to date.

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GM has rehired more than 100 employees it let go early last year when it shuttered Cruise, its former robotaxi business, according to reporting by The Information.

The hiring spree, which also includes employees from Nvidia and Uber, is geared toward ramping up GM’s plans for personal-use self-driving vehicles and not robotaxis. The former had been the focus of Cruise, prior to GM shuttering it in 2024.

Reporting last fall revealed that GM was attempting to rehire some former Cruise employees, but the scope of that effort wasn’t clear. More than 1,000 employees were laid off when the automaker scrapped Cruise, which it invested $10 billion into.

Google’s Waymo, Cruise’s former chief rival, is now worth $126 billion after a $16 billion funding round earlier this year. The company says it’s serving 500,000 paid robotaxi rides per week in the US.

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