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Acquisitions Mergers

AAWH

VRNOF

The cannabis industry is seeing consolidation, with cannabis concentrates emerging as a key growth area. Brands like Ozone (OTC: AAWH) and The Essence (OTC: VRNOF) are performing well in multiple states, making them attractive acquisition targets.

Portfolio Pulse from Nicolás Jose Rodriguez

July 17, 2024 | 10:56 pm

COF

DFS

Capital One Financial Corporation (NYSE:COF) shares are trading higher following the announcement of its intention to acquire Discover Financial Services (NYSE:DFS). Discover reported better-than-expected Q2 earnings, and Capital One unveiled a $265 billion community benefits plan as part of the acquisition.

Portfolio Pulse from Erica Kollmann

July 17, 2024 | 9:43 pm

CHUY

DRI

Chuy's Holdings Inc (NASDAQ:CHUY) shares surged after the company announced it will be acquired by Darden Restaurants, Inc. (NYSE:DRI) for $37.50 per share in cash, valuing the deal at approximately $605 million. The acquisition is expected to be neutral to Darden's net earnings per share for fiscal 2025.

Portfolio Pulse from Adam Eckert

July 17, 2024 | 9:29 pm

BLK

BlackRock has priced a $2.5 billion debt offering consisting of three tranches of senior unsecured notes. The proceeds will be used to fund a portion of the cash consideration for its proposed acquisition of Preqin Holding Limited.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 8:36 pm

CHUY

DRI

Darden Restaurants (NYSE:DRI) will acquire Chuy's Holdings (NASDAQ:CHUY) for $37.50 per share in an all-cash transaction valued at approximately $605 million. This acquisition will add Chuy's 101 Tex-Mex restaurants to Darden's portfolio of brands.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 8:06 pm

DDOG

GTLB

Datadog Inc. (NASDAQ:DDOG) shares are trading lower following reports of a potential acquisition of GitLab Inc. (NASDAQ:GTLB), valued at approximately $8 billion. Both companies and Alphabet, a significant GitLab stakeholder, have declined to comment. Analyst Mike Cikos suggests the acquisition could be beneficial despite AWS or Google Cloud being seen as more obvious buyers.

Portfolio Pulse from Vaishali Prayag

July 17, 2024 | 8:05 pm

BAC

BLK

DIVL

FDFF

GDVD

JPM

NITE

SCHD

WFC

BlackRock, Inc. (NYSE:BLK) is selling $2.5 billion in bonds to fund its $3.2 billion acquisition of private-markets data company Preqin. The bond sale is being led by Bank of America, JPMorgan Chase, Morgan Stanley, and Wells Fargo. The acquisition is expected to close by the end of the year.

Portfolio Pulse from Michael Juliano

July 17, 2024 | 7:58 pm

CNHI

Hemisphere GNSS has been acquired by CNH Industrial in 2023. Additionally, Hemisphere GNSS will pay $2.6 million to settle False Claims Act allegations related to the Paycheck Protection Program.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 7:40 pm

SDST

Stardust Power Inc. (NASDAQ: SDST) shares surged by 148% following its debut on the Nasdaq Global Market after a business combination with Global Partner Acquisition Corp II. The company focuses on lithium production, aligning with U.S. national security priorities and benefiting from state and federal incentives.

Portfolio Pulse from Vaishali Prayag

July 17, 2024 | 7:32 pm

AEHR

Aehr Test Systems (NASDAQ:AEHR) shares surged by 23.7% following strong fiscal Q4 2024 results and optimistic FY25 guidance. The company reported net revenue of $16.6 million and non-GAAP net income of $0.84 per share, both beating estimates. Aehr projects FY25 revenue of $70 million, surpassing the consensus estimate. The company also highlighted its success in the silicon carbide power semiconductor market and announced the acquisition of Incal Technology.

Portfolio Pulse from Vaishali Prayag

July 17, 2024 | 7:25 pm