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Acquisitions Mergers

ABBV

AbbVie has revised its Q1 2024 adjusted EPS guidance downwards from $2.30-$2.34 to $2.26-$2.30, below the consensus of $2.35. This revision includes a $0.04/share dilutive impact from the acquisition of Immunogen.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:45 pm

ABBV

AbbVie has reaffirmed its adjusted EPS guidance for 2024 at $11.05-$11.25, aligning with the consensus of $11.21. This forecast now includes a $0.42 per share dilutive impact from the Immunogen acquisition and the pending Cerevel deal, an increase from the previously estimated $0.32 per share.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:44 pm

ABBV

AbbVie has successfully completed its acquisition of ImmunoGen, marking a significant move in the pharmaceutical industry. This acquisition is expected to enhance AbbVie's portfolio in the oncology sector, leveraging ImmunoGen's expertise in antibody-drug conjugate technology.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:41 pm

CRH

CRH has finalized the acquisition of a portfolio of cement and readymixed concrete assets in the US for $2.1 billion, a deal that was initially announced in November 2023.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:23 pm

EU

enCore Energy has fully repaid its debt from the Alta Mesa Project acquisition by converting a $20M convertible promissory note into common shares. This move eliminates the remaining debt from the $120M acquisition, initially financed with $60M in cash and a $60M convertible note.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:21 pm

EVBG

LGIH

MAS

VRNS

VVX

Wall Street's most accurate analysts have made new stock picks, with notable mentions including V2X, Inc. (VVX) with a 72% upside, Everbridge, Inc. (EVBG) seeing a 3% upside following its acquisition by Thoma Bravo, Varonis Systems, Inc. (VRNS) with an 8% downside, LGI Homes, Inc. (LGIH) expected to plunge 20%, and Masco Corporation (MAS) with a 12% upside. These ratings come from analysts with an 88% accuracy rate, except for Keith Hughes from Truist Securities who has an 87% accuracy rate.

Portfolio Pulse from Avi Kapoor

February 12, 2024 | 12:15 pm

GNSS

Genasys Inc. (NASDAQ:GNSS) has been awarded a project by the Puerto Rico Electric Power Authority, funded by FEMA, to build an Emergency Warning System for 37 dams in Puerto Rico. The project, valued at $60M-$70M in revenue for Genasys, involves the use of the Genasys Protect platform for early flood threat detection and communication.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:07 pm

DTIL

TGTX

Precision Biosciences (DTIL) has entered into an agreement with TG Therapeutics (TGTX) for the exclusive license of Azercabtagene Zapreleucel (azer-cel) for autoimmune diseases and other indications outside of cancer. Precision received an initial $7.5M, part of a total of $17.5M in upfront and near-term payments. The deal includes TG Therapeutics purchasing 2,920,816 shares of Precision common stock at $0.77 per share.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:07 pm

BMY

Bristol Myers Squibb (BMY) and Rayzebio have announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, related to BMY's deal to acquire Rayzebio for $62.50 per share, announced on February 9.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:02 pm

MLM

Martin Marietta Materials (MLM) has agreed to purchase 20 active aggregates operations located in Alabama, South Carolina, South Florida, Tennessee, and Virginia from Blue Water Industries for $2.05 billion in cash. This acquisition, along with the recent purchase of Albert Frei & Sons, Inc. in Colorado, adds about 1 billion tons of high-quality reserves to MLM's portfolio and is expected to generate over $180 million in annualized EBITDA.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 11:58 am