Streetbeat News

Acquisitions Mergers

AVRO

AVROBIO's stock price is trading lower following the announcement that the company will acquire all outstanding equity interests of Tectonic Therapeutic.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 2:29 pm

SON

Sonoco has agreed to sell its Protective Solutions packaging business to Black Diamond Capital Management for an estimated $80 million in cash. This divestiture is part of Sonoco's strategy to streamline its operations and focus on its core businesses.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 2:17 pm

CISS

C3is shares have risen following a 13G filing indicating that S.H.N. Financial has acquired a 9.1% stake in the company.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 2:12 pm

AGFY

Agrify Corporation's stock (AGFY) is trading higher following a 13D filing that revealed I-Tseng Jenny Chan has acquired a 49.99% stake in the company. This significant ownership indicates a potentially active role in the company's management or policies.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 2:10 pm

JBLU

SAVE

Spirit Airlines' stock price moved higher following the circulation of a Seeking Alpha article discussing JetBlue and Spirit Airlines' filing for an expedited appeal after their merger deal was blocked. The companies are seeking a quicker resolution to the regulatory challenge that is currently impeding their merger.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 2:01 pm

OHI

Omega Healthcare Invts (NYSE:OHI) has been the subject of varying opinions from 5 analysts over the past three months, with recent ratings showing 1 bullish and 3 indifferent stances. The average 12-month price target is now $33.00, down from $34.00, with a high estimate of $36.00 and a low of $31.00. Analysts from Deutsche Bank, B of A Securities, Mizuho, Truist Securities, and Wells Fargo have adjusted their price targets and ratings, reflecting changes in market conditions and company performance. Omega Healthcare Investors Inc is a REIT focusing on long-term healthcare facilities, aiming to grow through M&A and maintain high care standards. The company has shown a revenue growth rate of 1.09% as of September 30, 2023, a net margin of 37.76%, an ROE of 2.51%, an ROA of 0.97%, and a debt-to-equity ratio of 1.44.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 2:01 pm

AMZN

EBAY

F

GM

STLA

TSLA

WKSP

WMT

Ford and GM are scaling back their EV production plans, with Ford cutting F-150 Lightning output and GM postponing its electric truck plant opening. In contrast, Worksport is expanding its B2B dealer network and will offer its products on Amazon, eBay, and Walmart. Worksport's tonneau covers are compatible with various truck models, including those from Ford, Stellantis, GM, Nissan, and Toyota, and will soon include Honda's Ridgeline. Stellantis and Tesla are continuing their EV production efforts, with Stellantis launching new models and Tesla ramping up Cybertruck production and planning a new mass-market EV.

Portfolio Pulse from Upwallstreet

January 30, 2024 | 1:56 pm

CTNT

Cheetah Net Supply Chain Service has entered into a definitive agreement to acquire Edward Transit Express Group. The deal includes a $300,000 cash payment and shares of Cheetah's unregistered Class A common stock. The stock price for the deal is set at 80% of the average closing price over the last ten business days before the agreement. The total market value of the share consideration is $1,200,000, which will result in Cheetah owning 100% of Edward following the acquisition.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 1:48 pm

ADTX

Aditxt, Inc. has expanded its technology portfolio by acquiring a set of EEG brain monitoring technologies. This strategic move aims to enhance the company's offerings in the health technology sector.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 1:36 pm

THRX

Concentra Biosciences, LLC and its subsidiary, Concentra Merger Sub II, Inc., have agreed to acquire Theseus Pharmaceuticals, Inc. (NASDAQ:THRX) for $3.90 to $4.05 per share in cash, plus a contingent value right (CVR). The CVR entitles holders to a portion of proceeds from licensing or sale of Theseus' programs and potential cost savings within 180 days post-merger. The tender offer for Theseus' shares commenced on January 9, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 1:29 pm