Global stocks are rallying this morning and oil is rebounding. The fears of a ‘Brexit’ are easing as recent polls give a slight edge to supporters of staying in the European Union. Both sides in the referendum debate suspended campaigning after the murder of a British lawmaker. Gold prices are retreating. Revlon is buying Elizabeth Arden in a cosmetics matchup. The deal is worth $870 million, including debt. Revlon is paying $14 a share, a 50% premium to Elizabeth Arden’s closing stock price. The deal allows Revlon to expand more into skincare. Oracle’s stock is climbing after the company’s cloud business helped it beat Wall Street expectations. Oracle’s software business grew 2% but CEO Safra Katz says the company is more focused on its cloud business, which saw growth of 49%. Housing starts for May are reported. The Baker Hughes rig count is released.
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