Streetbeat News

Acquisitions Mergers

MRDB

MariaDB plc (NYSE:MRDB) has completed the spinoff of its geospatial business to CubeWerx, an independent company specializing in geospatial products and services. This move allows MariaDB to concentrate on its core product, the MariaDB Enterprise Server, while CubeWerx takes over the geospatial solution.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 1:18 pm

ASML

RAMP

SAP

Three tech stocks, SAP SE (NYSE:SAP), LiveRamp Holdings, Inc. (NYSE:RAMP), and ASML Holding N.V. (NASDAQ:ASML), are showing overbought signals with RSI values above 70, indicating potential short-term price declines. SAP's revenue increased by 5% and its stock rose 10% over five days. LiveRamp is acquiring Habu for $200 million and reported higher-than-expected preliminary revenue, with its stock up 9% over five days. ASML posted strong quarterly earnings and expects significant growth in 2025, with its stock also up 10% over five days.

Portfolio Pulse from Avi Kapoor

January 24, 2024 | 1:14 pm

VCIG

VCI Global Limited (NASDAQ:VCIG) through its subsidiary V Capital Real Estate Sdn Bhd, has acquired leasing rights for land and Impiana Private Villas Kata Noi in Phuket, Thailand. The acquisition includes 11 villas with potential for future expansion. Thailand's economic growth is expected to rise, with tourism playing a significant role. The country's hospitality industry is projected to reach USD$19 billion by 2028, and VCI Global views this as a strategic investment in line with their Southeast Asia hospitality sector expansion strategy.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 1:04 pm

GOOGL

Alphabet Inc.'s subsidiary DeepMind Technologies is experiencing departures of top AI scientists forming their own startups, with one rumored to be raising $217 million. Google has also laid off over 1,000 employees, with more cuts expected. Despite these challenges and controversies over recent product launches, Alphabet's stock (NASDAQ:GOOGL) continues to perform well, riding the broader tech rally.

Portfolio Pulse from Caleb Naysmith

January 24, 2024 | 1:03 pm

AMGN

JNJ

Johnson & Johnson (NYSE:JNJ) reported Q4 2023 earnings with adjusted EPS of $2.29, beating consensus by $0.01, and sales of $21.4 billion, surpassing expectations. The stock closed down 1.67% despite the positive earnings report. JNJ's MedTech division, bolstered by the Abiomed acquisition, saw a 12.4% growth in sales. The company expects continued demand for nonurgent surgeries into 2024. JNJ also announced a tentative $700 million settlement over talc safety allegations. Additionally, JNJ's Stelara patent expired, but agreements delay biosimilar competition until 2025, with Amgen Inc (NASDAQ:AMGN) releasing Wezlana next year.

Portfolio Pulse from Vandana Singh

January 24, 2024 | 12:54 pm

VERO

Venus Concept's Board of Directors is currently evaluating a range of strategic alternatives to enhance shareholder value. These alternatives could include financings, mergers, reverse mergers, business combinations, asset sales, licensings, or other transactions.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 12:32 pm

LMT

Lockheed Martin and Red 6 have entered into a strategic joint venture and mentor-protégé agreement under the U.S. Small Business Administration Mentor-Protégé Program. The agreement will facilitate joint ventures, bids, potential future investments, and innovation. Lockheed Martin will benefit from access to small business contracts and the opportunity to integrate Red 6's technology into various platforms, including the F-16, F-22, F-35, TF-50, and other programs.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 12:20 pm

BITF

Bitfarms Ltd., a global Bitcoin mining company, has completed the acquisition of land in Yguazu, Paraguay for a new 100 MW production facility. This move is part of Bitfarms' strategy to upgrade its fleet and achieve a target of 21 EH/s by 2024. The financial terms of the transaction were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 12:08 pm

WBS

Webster Financial Corporation (NYSE:WBS) reported Q4 earnings per share of $1.46, meeting market estimates, but fell short on sales with $571.02 million against expectations of $602.807 million. Despite the sales miss, the company highlighted strong financial performance and strategic accomplishments, including the acquisition of Ametros Financial. Shares dropped 2.3% after the report. Analysts from Raymond James and JP Morgan raised their price targets for WBS, with Raymond James maintaining an Outperform rating and JP Morgan upgrading the stock from Neutral to Overweight.

Portfolio Pulse from Avi Kapoor

January 24, 2024 | 12:05 pm

BABA

FXI

KWEB

PDD

Alibaba Group Holding Limited (NYSE:BABA) appointed James Dong as the new acting CEO of Daraz Group amid a management reshuffle. The stock surged, influenced by broader market trends and reports of Jack Ma and Joe Tsai increasing their stakes, becoming the largest shareholders. Alibaba's stock rose alongside IShares China Large-Cap ETF (NYSE:FXI) and KraneShares CSI China Internet ETF (NYSE:KWEB), also boosted by China's potential $278 billion stimulus package. PDD Holdings Inc (NASDAQ:PDD) was mentioned as a rising competitor.

Portfolio Pulse from Anusuya Lahiri

January 24, 2024 | 11:45 am