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Acquisitions Mergers

AMD

HPE

ISRG

JNPR

META

NVDA

PANW

AI stocks have been leading gains in the S&P 500 index in January, with Juniper Networks, Nvidia, and Palo Alto Networks among the top performers. Juniper Networks received a $14 billion takeover offer from Hewlett Packard Enterprise, Nvidia continued its strong performance with a 15% gain in January, and Palo Alto Networks saw a 14% increase. Nvidia's technology and market share in AI GPUs, including a large purchase by Meta Platforms, positions it well for 2024. Palo Alto Networks is also favored by analysts for its role in cybersecurity against AI-powered threats. Other notable companies include AMD with a 10.3% gain and Intuitive Surgical, also up by 10.3%, both benefiting from the AI trend.

Portfolio Pulse from Neil Dennis

January 19, 2024 | 2:37 pm

AAL

DAL

JBLU

LUV

SAVE

UAL

Spirit Airlines (SAVE) is urging JetBlue (JBLU) to appeal a federal judge's decision that blocked their $3.8 billion merger, which could have created the fifth-largest US carrier. The ruling, favoring antitrust regulators, has led to a significant drop in Spirit's shares. Despite the setback, Spirit's Q4 2023 revenue is expected to be at the high end of guidance, and the company is looking to refinance debt. Shares of SAVE and JBLU have risen on the latest update.

Portfolio Pulse from Vandana Singh

January 19, 2024 | 2:33 pm

SPRC

SciSparc Ltd. (SPRC) has provided a $1.4M bridge loan to an unnamed vehicle importer company in Israel, with whom it has a non-binding letter of intent to acquire. The loan bears 7% interest annually, increasing to 9% if the acquisition isn't completed by the repayment date. The loan will be set off against a planned $4.25M financing upon acquisition completion. If the acquisition fails, the loan must be repaid within three months of termination or by July 15, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 2:32 pm

GRFS

Grifols, a global healthcare company, has sold its plasma companies to Scranton, as reported by Reuters citing a Grifols board member and Scranton shareholder. The acquisition is aimed at assisting Grifols.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 2:22 pm

GRFS

An investment company named Scranton, which has ties to Grifols, is expected to provide a public explanation following a report from a hedge fund. This anticipation comes from a statement made by a Grifols board member who is also a shareholder in Scranton. Investors are likely awaiting further details to understand the implications of the hedge fund's findings on Grifols and its relationship with Scranton.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 2:20 pm

KAMN

Kaman Corporation (NYSE:KAMN) shares surged in premarket trading after announcing an acquisition agreement with Arcline Investment Management. The all-cash deal values Kaman at approximately $1.8 billion, with shareholders receiving $46.00 per share, a 105% premium over the closing price on January 18, 2024. The transaction is expected to close in the first half of 2024, after which Kaman will become private and delist from public stock exchanges. KAMN shares jumped 101.15% to $45.12.

Portfolio Pulse from Nabaparna Bhattacharya

January 19, 2024 | 2:10 pm

DDC

DayDayCook (DDC) reported financial results for the nine months ended September 30, 2023, with total revenues of $23.7M, a 25.5% increase from the previous year. Gross profit rose 48.4% to $6.3M, and EBITDA turned positive at $0.6M. Post-IPO, DDC has executed its M&A strategy, acquiring Nona Lim, Yuli, Yai's Thai, and entering an agreement to acquire 51% of GLI. These moves aim to expand DDC's presence in the Asian food and cooking categories and access new sales channels.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 2:04 pm

AMZN

IRBT

iRobot shares have declined after reports emerged that the European Union (EU) intends to obstruct Amazon's proposed acquisition of the robotic vacuum cleaner company.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 2:02 pm

Macy's Inc (NYSE:M) is set to lay off 13% of its corporate workforce, approximately 2,350 positions, which is about 3.5% of its total workforce including Bloomingdale's and Bluemercury subsidiaries. The company is also closing five of its 560 stores. These changes are part of a new strategy to enhance competitiveness and optimize cost structure, overseen by the incoming CEO Tony Spring. The company also plans to offshore certain business areas. Macy's shares rose 0.39% to $18.00 in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

January 19, 2024 | 1:59 pm

KAMN

Kaman Corporation's stock (KAMN) is trading higher following the announcement of its acquisition by private equity firm Arcline for a total of $1.8 billion.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 1:52 pm