Here's Why American Equity Investment Life Holding Is Soaring on Thursday

The stock market was mostly in the green on Thursday, with investors optimistic about a pending stimulus agreement, but most major averages were up by less than 1% as of noon EDT. The reason for today's jump wasn't related to American Equity's earnings or anything having to do with the business itself. Instead, news came out that the company received a takeover offer in early September from Athene Holding (NYSE: ATH) and privately held Massachusetts Mutual Life Insurance.