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Acquisitions Mergers

EDR

NFLX

TKO

TKO Group Holdings, Inc. (TKO) announced a $5 billion, 10-year deal with Netflix, Inc. (NFLX) to stream WWE's 'Raw' exclusively. The deal, which emphasizes the importance of live sports for streaming services, sent TKO's stock soaring over 20%. Netflix is expanding into live sports, having already streamed events like the 'Tour de France: Unchained' and the 'Netflix Cup'. The partnership will bring three hours of live WWE programming weekly to Netflix. Netflix's Q4 financial results mentioned ongoing investments in live programming. TKO, partly owned by Endeavor Group Holdings Inc (EDR), was formed to integrate UFC and WWE.

Portfolio Pulse from Erica Kollmann

January 23, 2024 | 10:17 pm

EVAX

MRK

Evaxion Biotech's stock price has increased following a 13G filing that revealed Merck & Co now holds an 11.4% stake in the company as of December 21, 2023.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 9:44 pm

BLK

BlackRock, Inc. has amended its 13G filing, revealing a 12.7% ownership stake in Premier Financial as of December 31, 2023, according to a recent SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 9:18 pm

BABA

MCHI

SPY

Alibaba Group Holding (NYSE:BABA) shares surged over 7% after co-founders Jack Ma and Joe Tsai bought shares worth hundreds of millions. Blue Pool Capital acquired around two million Alibaba ADRs worth $152 million, while Ma bought $50 million in Hong Kong. The purchases occurred before China announced market support measures. The iShares MSCI China ETF (NYSE:MCHI) rallied over 3% after the news, despite a previous downtrend. The SPDR S&P 500 ETF (NYSE:SPY) was up 19% in 2023, contrasting with MCHI's decline. Alibaba's future hinges on China's market confidence and regulatory dynamics with the U.S.

Portfolio Pulse from Neil Dennis

January 23, 2024 | 8:32 pm

ABT

BDX

BSX

MDT

NARI

PHG

SYK

TFX

TRUMF

TRUMY

Needham initiated coverage on Inari Medical Inc (NARI) with a Buy rating and a price target of $72, citing its leadership in the venous thrombectomy market and potential as an acquisition target. Inari Medical's products, FlowTriever and ClotTriever, target markets with a combined TAM of $5.8 billion. The company was also noted for its robust gross margin, double-digit revenue growth, and recent acquisition of LimFlow SA. Potential acquirers include major medical technology firms like Abbott Laboratories, Becton, Dickinson and Co, Boston Scientific, Medtronic, Philips, Stryker, Teleflex, and Terumo. Inari Medical's shares are considered attractively valued, trading at a premium compared to peers.

Portfolio Pulse from Vandana Singh

January 23, 2024 | 7:56 pm

BABA

BIDU

IWM

JNJ

LMT

MMM

NFLX

NIO

TKO

TLT

UAL

US stocks showed little movement on Tuesday, with major indices near all-time highs or slightly down. The S&P 500 and Nasdaq 100 were stable, while the Dow dropped 0.4%. The iShares Russell 2000 ETF (IWM) fell 0.7%. Treasury yields and the dollar rose, reducing expectations of Fed rate cuts. The iShares 20+ Year Treasury Bond ETF (TLT) declined by 1.1%. Chinese stocks in New York, including Alibaba (BABA), Baidu (BIDU), and NIO (NIO), surged after China's market stabilization measures. United Airlines (UAL), Verizon (VZ), and Procter & Gamble (PG) rose post-earnings, while 3M (MMM), General Electric (GE), Johnson & Johnson (JNJ), and Lockheed Martin (LMT) fell. Netflix (NFLX) was flat before earnings, and TKO Group Holdings (TKO) jumped 13% after securing a deal with Netflix.

Portfolio Pulse from Piero Cingari

January 23, 2024 | 7:07 pm

BofA Securities analyst Andrew Obin is optimistic about General Electric Company's (NYSE:GE) future, citing potential upside from the upcoming Vernova spin-off and growth in the Aerospace sector. GE's Q4 FY23 earnings surpassed expectations with adjusted revenue of $18.5 billion and adjusted EPS of $1.03. The company forecasts Q1 adjusted EPS of $0.60 to $0.65 and expects FY24 revenue of $34 billion-$35 billion for GE Vernova and low double-digit growth for GE Aerospace. Obin maintains a Buy rating on GE with a $135 price target.

Portfolio Pulse from Lekha Gupta

January 23, 2024 | 6:22 pm

EWJ

SPY

Nippon Steel sent a delegation to Washington to discuss its $14 billion acquisition of U.S. Steel with lawmakers and analysts. The deal faced opposition from lawmakers, including Sen. John Fetterman, due to concerns over national security. White House Adviser Brainard emphasized the importance of steel to national security.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 5:58 pm

AMZN

DIS

GOOG

NFLX

PARA

Content creator MrBeast is reportedly close to signing a deal with Amazon.com, Inc. (AMZN) for a reality competition series on Prime Video, potentially worth $100 million. This follows his successful YouTube video, a real-life version of Netflix's 'Squid Game,' which garnered 564 million views. The move is seen as a miss for Netflix Inc (NFLX), which has launched its own 'Squid Game' reality show. Other content creators have also transitioned to TV, like Dude Perfect with shows on CMT and Nickelodeon (PARA, PARAA) and The D'Amelios on Hulu (DIS). MrBeast's potential deal with Amazon could draw his large YouTube audience, owned by Alphabet Inc (GOOG, GOOGL), to Prime Video.

Portfolio Pulse from Chris Katje

January 23, 2024 | 5:50 pm

INBX

SNY

Inhibrx, Inc. (INBX) shares have risen following the announcement of the sale of their asset INBRX-101 to Sanofi for a potential total of $2.2 billion.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 5:06 pm