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Acquisitions Mergers

MRNA

PFE

Pfizer, Inc. (NYSE:PFE) shares are trading higher by 4.5% after a 40% loss in 2023. The rise may be in sympathy with Moderna, Inc. (NASDAQ:MRNA), which received an upgrade from Oppenheimer and expects sales growth in 2025. Increased respiratory virus activity could boost demand for Pfizer's vaccines. Pfizer completed the acquisition of Seagen Inc. and provided 2024 revenue guidance below consensus estimates. PFE is trading above its 50-day moving average but below its 52-week high.

Portfolio Pulse from Erica Kollmann

January 02, 2024 | 5:48 pm

NGM

NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) stock surged after the company confirmed receiving a non-binding expression of interest from The Column Group for a potential acquisition to take NGM private. A special committee of independent directors has been formed to consider the offer and other strategic alternatives. The company has advised shareholders to take no action at this time while the committee reviews the proposal.

Portfolio Pulse from Erica Kollmann

January 02, 2024 | 5:30 pm

LIFE

Logos Global Management LP has filed a 13G with the SEC, revealing a 9.9% ownership stake in aTyr Pharma as of December 19, 2023.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 5:28 pm

AVXL

CORT

LBPH

LMDX

RIVN

SNES

VYGR

U.S. stocks traded mixed with the Dow Jones gaining and NASDAQ falling. Energy shares rose while information technology shares fell. Rivian Automotive reported lower-than-expected Q4 vehicle deliveries. Longboard Pharmaceuticals surged on positive study data, while Anavex Life Sciences plunged after an update on its Rett Syndrome program. LumiraDx fell after agreeing to sell its technology platform to Roche, and Corcept Therapeutics dropped due to a court decision favoring Teva Pharmaceuticals. Oil prices decreased, and gold prices saw a slight increase.

Portfolio Pulse from Avi Kapoor

January 02, 2024 | 5:15 pm

SNX

Shyft Global Services, a division of TD SYNNEX (NYSE:SNX), has acquired Cokeva, Inc., a leader in IT equipment repair, test, and refurbishment. The acquisition expands Shyft's repair capabilities and global footprint, adding a 220,000 sq. ft. facility in Roseville, California with ISO 9001:2015 and ISO 5/Class 100 certifications. This move adds over 200 repair service experts to Shyft and enhances its service offerings to OEMs in various industries, aligning with Shyft's commitment to sustainability and the circular economy.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 5:06 pm

AAPL

CRM

CVX

DIA

INTC

MSFT

WBA

The Dow Jones Industrial Average (DJIA) saw a significant rise in 2023, with technology stocks leading the gains. Salesforce, Intel, Microsoft, Apple, and Boeing were the top five gainers, while Walgreens, Chevron, Johnson & Johnson, 3M, and Coca-Cola were the biggest losers. The DJIA ETF (DIA) also experienced a strong year. Microsoft's investment in OpenAI and Apple's new iPhone release were notable events. The DJIA's performance, however, lagged behind the S&P 500 and Nasdaq 100, with the 'Magnificent 7' tech stocks driving much of the market's gains.

Portfolio Pulse from Chris Katje

January 02, 2024 | 5:02 pm

HSKA

VNRX

VolitionRx Limited received $13M in milestone payments from Heska Corporation as part of their License and Supply Agreement. The payment was for the successful transfer of the Nu.Q Vet Cancer Test to Heska's Element i+ Immunodiagnostic Analyzer, now called the 'Heska Nu.Q Vet Canine Cancer Screen and Monitor' test.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 4:43 pm

FIX

Comfort Systems USA has entered into an agreement to acquire Summit Industrial Construction, LLC. Summit is expected to contribute annualized revenues of $360M-$400M to Comfort Systems USA.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 4:32 pm

MYE

Myers Industries, Inc (NYSE:MYE) is acquiring Signature Systems for $350 million, financed through a new credit facility. Signature forecasts 2023 revenue of $122 million, with $24 million operating income and $44 million Adjusted EBITDA. The deal is expected to close in Q1 2024, with EPS accretion starting in 2025 and full operational and cost synergies of $8 million by 2025. Myers Industries' CEO sees this as a key step in their strategic transformation. Myers had $24.8 million in cash as of September 30 and its stock saw a slight increase.

Portfolio Pulse from Shivani Kumaresan

January 02, 2024 | 4:18 pm

ALID

BBRRF

Blueberries Medical Corp. (OTC:BBRRF) announced a non-brokered private placement of 180,716,00 common shares at $0.0083 per share, raising approximately $1.99 million. The proceeds will repay debt and support general corporate purposes. The offering was led by Terraflos Inc., with plans to expand into Argentina, Mexico, and Brazil. Blueberries also has a joint venture with Allied Corp. (OTCQB:ALID) for the production of cannabis derivatives. Post-announcement, BBRRF shares rose 12.7451% to $0.0138.

Portfolio Pulse from Jelena Martinovic

January 02, 2024 | 4:10 pm