Streetbeat News

Acquisitions Mergers

CLH

Clean Harbors, Inc. (NYSE:CLH) has announced its agreement to acquire HEPACO for $400 million in cash, aiming to enhance its Environmental Services segment. The acquisition, expected to close in the first half of 2024, is projected to generate $20 million in cost synergies and efficiency gains. HEPACO's addition will expand Clean Harbors' emergency response capabilities and geographic footprint. The transaction is aligned with Clean Harbors' long-term strategic plan, Vision 2027, and is expected to offer significant growth opportunities, including complementary product offerings and meaningful cross-selling opportunities.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 1:40 pm

RIVN

TSLA

UBS

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin remain strong despite market volatility due to rate anxiety. GM recalls over 300,000 trucks for tailgate issues. Janet Yellen highlights crypto risks, urging legislative action. Symbotic reports weak sales, affecting pre-market session. Deutsche Bank retracts US recession forecast. Arm Holdings and Palantir show strong performance, while Alibaba faces a potential further slide. Tesla's market could expand significantly with a new $25K EV. Rivian announces R2 EV launch date. UBS announces a $1B share buyback. China's Orienspace to compete with SpaceX. BP shares surge.

Portfolio Pulse from Akanksha Bakshi

February 06, 2024 | 1:33 pm

QUAD

Quad (NYSE:QUAD), a marketing experience company, has acquired DART Innovation, a provider of in-store digital media solutions. This acquisition enables Quad to offer an integrated purchasing journey across home, online, and in-store environments, enhancing the shopping experience for retailers, consumer packaged goods (CPGs), and consumers. DART's technology allows for targeted ads on digital screens at the point of purchase, promising benefits for retailers, CPGs, and consumers by driving sales and improving the shopping experience. The move is supported by industry data indicating the significant role of in-store retail sales in the U.S. economy.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 1:33 pm

COHR

EVBG

NVDA

SMCI

TSM

As of Feb. 6, 2024, five tech stocks are considered overbought based on their RSI values, indicating potential short-term performance concerns. Everbridge, Inc. (EVBG) announced an acquisition by Thoma Bravo, Super Micro Computer, Inc. (SMCI) reported strong Q2 results, Coherent Corp. (COHR) posted better-than-expected quarterly results, NVIDIA Corporation (NVDA) received a price target increase from Goldman Sachs, and Taiwan Semiconductor Manufacturing Company Limited (TSM) reported Q4 revenue that beat consensus.

Portfolio Pulse from Avi Kapoor

February 06, 2024 | 1:26 pm

APPS

Digital Turbine (NASDAQ:APPS) has invested $10M in ONE Store, aiming to bring its SingleTap technology to over 40M+ users in South Korea and to expand ONE Store's app marketplace globally. This strategic partnership is expected to leverage both companies' strengths, enhancing ONE Store's international market penetration and app store business. The investment underscores the potential of ONE Store, following previous investments from Microsoft, Deutsche Telekom Capital Partners, and Krafton.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 1:24 pm

CTLT

Catalent, Inc. (NYSE:CTLT) announced its acquisition by Novo Holdings for $63.50 per share in cash, leading to a 9.7% jump in its shares to close at $59.82. Following the news, analysts at UBS and RBC Capital raised their price targets on Catalent to $63.5, while downgrading the stock to Neutral and Sector Perform, respectively.

Portfolio Pulse from Avi Kapoor

February 06, 2024 | 1:22 pm

CHEA

NVIV

PLTR

PRSO

XCUR

Palantir Technologies Inc. shares surged 18% in pre-market trading after reporting Q4 sales above expectations and providing guidance. Other stocks also showed significant pre-market movements, with InVivo Therapeutics, Chenghe Acquisition, and Exicure among the top gainers, while Peraso Inc., Trio Petroleum, and Symbotic Inc. led the losers.

Portfolio Pulse from Avi Kapoor

February 06, 2024 | 1:16 pm

AMRK

A-Mark Precious Metals, Inc. (AMRK) plans to acquire LPM Group Limited from AMS Holding, LLC for $41.5M, marking its expansion into Asia. The deal includes a mix of cash and AMRK stock, with additional performance-based payments. LPM, a major precious metals dealer in Asia, will benefit from A-Mark's resources and e-commerce expertise. Additionally, A-Mark affiliate Pinehurst Coin Exchange will acquire assets from ModernCoinMart for $5.5M, and a joint venture will invest in AMS Holdings. The transactions aim to enhance A-Mark's global presence and product offerings.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 1:08 pm

IMNM

Immunome announces the acquisition of AL102 and AL101 drug candidates from Ayala Pharmaceuticals. The deal includes a $20M cash payment and $30M in Immunome common stock, with an additional up to $37.5M in milestone payments.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 1:06 pm

MGA

Magna (MGA) has been awarded a contract by a North America-based OEM to supply a specialized primary rear eDrive system for a high-end niche vehicle platform. This system, a variant of Magna's 800V eDS Duo, integrates two e-motors, two inverters, and two gearboxes, delivering 726 kW of power and 8,000 Nm of torque. The contract highlights Magna's expertise in electric powertrain system engineering and integration. The system will be manufactured in Magna's facility in Ramos, Mexico, with production starting in the next few years.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 1:06 pm