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Acquisitions Mergers

VXRT

Vaxart, Inc. has been awarded a $9.27 million BARDA Project NextGen award to prepare for a Phase 2b clinical study of its oral pill XBB COVID-19 vaccine candidate. The study will compare the vaccine to an approved mRNA vaccine. The funding is part of a $5 billion HHS initiative to develop vaccines offering broader, more durable protection against COVID-19. Vaxart's vaccine aims to address needle-phobia and provide a cross-reactive response to various COVID variants by triggering both systemic and mucosal immune responses.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 1:31 pm

NVO

Novo Holdings, the main owner of Novo Nordisk A/S (NYSE:NVO), plans to use dividends from NVO's successful weightloss drugs Ozempic and Wegovy for strategic investments, particularly in Asia. Despite challenges such as interest rates and geopolitics, Novo Holdings is set for an active dealmaking role, with its annual payout expected to nearly double. NVO's share price saw a slight decrease in premarket trading.

Portfolio Pulse from Vandana Singh

January 19, 2024 | 1:30 pm

IRBT

SMCI

Super Micro Computer, Inc. (NASDAQ:SMCI) shares rose over 12% in pre-market trading following the company's updated Q2 financial guidance, which exceeded previous estimates. The company now expects net sales of $3.6 to $3.65 billion and non-GAAP diluted net income per share of $5.40 to $5.55. Other stocks mentioned include gainers like Treasure Global Inc. (NASDAQ:TGL) and losers such as iRobot Corporation (NASDAQ:IRBT), which dropped due to the EU's likely rejection of Amazon's acquisition.

Portfolio Pulse from Avi Kapoor

January 19, 2024 | 1:13 pm

RAIN

Rain Oncology disclosed in an SEC 8K filing that it has received 15 demand letters from purported company stockholders in relation to its proposed deal with Pathos AI. The company denies all allegations made in these demand letters.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 1:08 pm

KAMN

Kaman Corporation (KAMN) has agreed to be acquired by Arcline Investment Management in an all-cash deal valued at $1.8 billion. Kaman shareholders are set to receive $46.00 per share, which is a 105% premium over the closing price on January 18, 2024, and a 110% premium over the 90-day VWAP ending on that date. The Kaman Board of Directors has unanimously approved the transaction, expected to close in the first half of 2024.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 1:03 pm

ALLY

SYF

Synchrony Financial is set to acquire Ally Financial's point of sale financing business, including $2.2 billion of loan receivables. Ally anticipates the sale will boost its CET1 ratio by about 15 basis points. The transaction is expected to close in Q1 of 2024.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 12:38 pm

ADBE

AMZN

IRBT

IRobot Corp's stock is plummeting after reports that the EU may block its merger with Amazon. The European Commission's decision is expected by February 14, with concerns over reduced competition in the robotic vacuum cleaner market. Amazon had revised its offer for iRobot to approximately $1.42 billion, a 15% reduction from the initial $1.7 billion due to iRobot's increased debt. The UK's CMA approved the deal in June 2023. iRobot's stock has dropped 52% in the last six months, while Amazon's has risen over 13%. In a similar situation, Adobe Inc and Figma called off their merger due to regulatory hurdles.

Portfolio Pulse from Anusuya Lahiri

January 19, 2024 | 12:32 pm

AMC

SALM

YY

The article highlights three oversold tech and telecom stocks with RSI values near or below 30, indicating potential buying opportunities. AMC Entertainment Holdings, Inc. (NYSE:AMC) reported record-breaking box office sales from a Taylor Swift concert film, yet its stock fell 9% over five days. Salem Media Group, Inc. (NASDAQ:SALM) announced its voluntary delisting from Nasdaq, leading to a 24% stock decline over five days. JOYY Inc. (NASDAQ:YY) received a notice terminating a Share Purchase Agreement with a Baidu affiliate, causing a 26% drop in its stock over the past month.

Portfolio Pulse from Avi Kapoor

January 19, 2024 | 12:08 pm

JBT

John Bean Technologies Corp (NYSE:JBT) has released its FY23 preliminary results, exceeding its previous guidance with adjusted EPS of $4.05 – $4.15 and adjusted EBITDA of $272 million – $275 million. The company also announced its intention to launch a voluntary takeover offer for Marel hf in Q1 2024 at €3.60 per share, valuing the deal at approximately €3.5 billion. This follows a revised proposal in December at €3.40 per share. The deal is expected to close by the end of FY24, with significant cost synergies and accretion to cash EPS anticipated. JBT also provided FY24 outlook with revenue expected between $1.75 billion and $1.78 billion, and adjusted EPS of $5.05 – $5.45. As of September 30, 2023, JBT had $526.7 million in cash and equivalents. JBT shares are up 0.72% in premarket trading.

Portfolio Pulse from Lekha Gupta

January 19, 2024 | 11:16 am

JBLU

SAVE

Spirit Airlines is reportedly urging JetBlue Airways to appeal a judge's decision that blocked their proposed merger, according to sources cited by Reuters.

Portfolio Pulse from Charles Gross

January 19, 2024 | 11:06 am