Streetbeat News

Acquisitions Mergers

ORGS

Orgenesis Inc. has entered into a definitive agreement to acquire approximately a 25% stake in Octomera LLC from MM OS Holdings. The acquisition is expected to have strategic implications for Orgenesis, potentially impacting its market position and future growth prospects.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 1:45 pm

AMSC

ENSC

PARA

Ensysce Biosciences (ENSC) reported the completion of a successful end-of-Phase 2 meeting with the FDA for its analgesic PF614, with Phase 3 enrollment starting mid-2024. Allen Media Group offered $14.3 billion to acquire Paramount Global (PARA), as reported by the Wall Street Journal. AMSC shares dropped after announcing a proposed public offering of common stock.

Portfolio Pulse from ryanfaloona@benzinga.com

January 31, 2024 | 1:36 pm

PARA

Allen Media Group has proposed a $14.3 billion acquisition offer for Paramount Global. The offer aims to consolidate Allen Media's position in the media industry by acquiring Paramount's diverse portfolio of assets, including its film and television studios, networks, and streaming services. This move could potentially create a larger media conglomerate with a significant presence in the entertainment sector.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 1:19 pm

ABBV

GANX

MRK

Gain Therapeutics' CEO Matthias Alder has issued a letter to shareholders reflecting on the company's progress and outlining plans for 2024. The letter highlights the pharmaceutical industry's advancements in neurodegenerative disease treatments and recent acquisitions, such as Cerevel Therapeutics by AbbVie and Caraway Therapeutics by Merck. Gain Therapeutics is focusing on its lead drug candidate GT-02287 for Parkinson's disease, aiming to meet the high unmet medical need for disease-modifying therapies.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 1:14 pm

The Cigna Group has agreed to sell its Medicare businesses, including its Medicare Advantage, Medicare Part D prescription drug plans, and Medicare Supplement businesses, along with its CareAllies service organization, to Health Care Service Corporation (HCSC) for approximately $3.7 billion. This strategic move allows Cigna to focus on its core growth platforms and improve its financial flexibility.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 1:10 pm

YETI

YETI Holdings, Inc. has acquired MYSTERY RANCH, a privately held company known for its high-quality packs and load carriage systems. The financial terms of the acquisition have not been disclosed to the public.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 1:07 pm

WINT

Windtree Therapeutics has engaged a strategic advisor to explore strategic alternatives to enhance shareholder value. This could include a sale, merger, divestiture, or other business combination. The company has not set a timeline for this process and there is no assurance that this will result in any specific action.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 1:04 pm

CARR

HON

Honeywell International Inc. (HON) is set to release Q4 earnings on Feb. 1, 2024, with expected earnings of $2.59 per share and projected revenue of $9.7 billion. The company has a dividend yield of 2.10% and recently agreed to acquire Carrier Global Corporation's Global Access Solutions business for $4.95 billion. Honeywell's stock closed up 1.4% at $205.90.

Portfolio Pulse from Avi Kapoor

January 31, 2024 | 12:57 pm

HAO

OMC

TTD

Haoxi Health Technology Limited (NASDAQ:HAO) shares are trading lower despite recently closing its IPO, raising $9.60 million. The shares began trading on Nasdaq on January 26, 2024, and the company plans to use the proceeds for working capital, acquisitions, and hiring. Over the last five days, HAO shares surged 43.41%, outperforming peers like The Trade Desk, Inc. (NASDAQ:TTD) and Omnicom Group Inc. (NYSE:OMC). HAO shares are down 9.31% to $7.01 in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

January 31, 2024 | 12:42 pm

CMCSA

DFS

MSM

VRNT

Insiders at Comcast, Discover Financial, MSC Industrial Direct, and Verint Systems have recently sold shares of their companies. MSC Industrial Direct acquired KAR Industrial Inc., while Discover Financial reported a significant drop in Q4 profit. Comcast announced strong Q4 earnings, a $15 billion buyback, and a dividend increase. Insider sales can indicate various sentiments about the company's prospects and stock valuation.

Portfolio Pulse from Avi Kapoor

January 31, 2024 | 12:33 pm