Streetbeat News

Acquisitions Mergers

BECN

Beacon Roofing Supply (BECN) anticipates low single-digit top line growth in 2024, driven by its Ambition 2025 initiatives, price carryover, and additional selling days, despite potential weather-related demand normalization and a slowdown in certain construction starts. Stable gross margins are expected, with Adjusted EBITDA also projected to grow by low single digits compared to 2023. The company plans to continue its Ambition 2025 strategy, including acquisitions, digital expansion, and productivity improvements, with capital expenditures similar to 2023 levels. Final guidance will be refined after assessing Q4 earnings and macroeconomic conditions.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 1:18 pm

KERN

Akerna Corp. (NASDAQ:KERN) has announced a special meeting for stockholders to vote on a proposed merger with Gryphon Digital Mining, Inc. The meeting is scheduled for January 29, 2024. The SEC has declared effective Akerna's Form S-4 registration statement related to the merger. The merger aims to create a carbon-neutral bitcoin miner, with the new entity to be listed on Nasdaq under the ticker 'GRYP'. The transaction is subject to stockholder approval and customary closing conditions, with a target close date of January 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 1:04 pm

AEHR

Aehr Test Systems (NASDAQ:AEHR) shares dropped by 15% in pre-market trading due to the company's revised full-year revenue guidance, citing expected delays in new orders. Other stocks also experienced significant movements in pre-market trading, with various companies such as Exicure, Inc. (NASDAQ:XCUR) and iCoreConnect Inc. (NASDAQ:ICCT) seeing gains due to specific catalysts like patent grants and strategic acquisitions, respectively.

Portfolio Pulse from Avi Kapoor

January 10, 2024 | 1:03 pm

CHH

Choice Hotels International, Inc. (CHH) has released an investor presentation and infographic to counter Wyndham Hotels & Resorts, Inc.'s (WH) antitrust claims regarding Choice's acquisition proposal. The presentation, filed with the SEC, aims to correct misinformation about the antitrust risks and competitive landscape presented by Wyndham. Choice remains confident in finalizing the acquisition within a year, believing it to be pro-competitive and beneficial for stakeholders.

Portfolio Pulse from Charles Gross

January 10, 2024 | 12:57 pm

ARBK

AYX

Three tech stocks, Argo Blockchain plc (ARBK), NextNav Inc. (NN), and Alteryx, Inc. (AYX), are showing signs of being overbought according to their Relative Strength Index (RSI) values. ARBK recently raised $9.9 million and its stock surged 58% over the past month, with an RSI of 70.53. NN appointed a new CEO and saw a 14% stock increase over five days, with an RSI of 71.11. AYX, set to be acquired by private equity firms, rose 6% over the past month, with an RSI of 73.58.

Portfolio Pulse from Avi Kapoor

January 10, 2024 | 12:54 pm

COIN

ISRG

JNPR

KBH

NVDA

QQQ

SPY

TSLA

US stocks are poised for a mixed open as traders await the SEC's decision on a spot Bitcoin ETF, which could influence crypto and related stocks. The market is also anticipating Thursday's inflation data. On Tuesday, stocks mostly closed lower, with the Dow, S&P 500, and Russell 2000 down, while the Nasdaq Composite ended slightly higher. Analyst Ryan Detrick remains bullish for 2024 but expects early 2023 weakness. In premarket trading, SPY and QQQ rose, while TSLA, NVDA, and ISRG saw gains, and COIN and JNPR experienced movements tied to specific news. KBH is set to report earnings after market close.

Portfolio Pulse from Shanthi Rexaline

January 10, 2024 | 12:36 pm

SGRP

SPAR Group has announced the sale of its interests in its joint ventures in Australia and NMS. The company is looking to streamline its operations and focus on its more profitable ventures. This strategic move is aimed at improving SPAR Group's financial health and shareholder value.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 12:31 pm

TTE

TotalEnergies SE (NYSE:TTE) has signed an agreement to acquire additional interests in two Namibian oil discovery blocks from Impact Oil and Gas Namibia. The deal involves a 10.5% interest in block 2913B and a 9.39% interest in block 2912, with TotalEnergies planning to share this with QatarEnergy. The transaction costs $99 million and will increase TotalEnergies' stakes to 45.25% in block 2913B and 42.5% in block 2912, while Impact retains a 9.5% interest in each. The deal is subject to approvals and is a strategic move towards the development of the Venus discovery.

Portfolio Pulse from Nabaparna Bhattacharya

January 10, 2024 | 11:58 am

TLRY

Tilray, Inc. has entered into an Assignment and Assumption Agreement with Double Diamond Holdings on January 9, as disclosed in their 8-K filing.

Portfolio Pulse from Charles Gross

January 10, 2024 | 11:20 am

LMT

Lockheed Martin Corporation (NYSE:LMT) and SpaceX are facing development challenges, causing NASA to delay its Artemis moon program to 2026. The first astronaut lunar landing in 50 years is now scheduled for September 2026, a year later than planned. The delays are due to issues with Orion's heat shield, spacecraft batteries, and electrical system. SpaceX still has to complete a list of tasks, including demonstrating the ability to dock and refuel with 'tanker' Starships in orbit. LMT shares are trading higher by 0.35% to $457.90 in premarket.

Portfolio Pulse from Nabaparna Bhattacharya

January 10, 2024 | 11:12 am