Streetbeat News

Acquisitions Mergers

NMRK

Newmark Group Inc (NASDAQ:NMRK) successfully arranged the sale of Aon Center, a prominent office tower in Downtown Los Angeles, for $153.5 million to Carolwood Equities. This transaction marks the largest office sale in the Western U.S. for Q4 2023. The property was 64% leased at the time of sale, with a diverse tenant base and no single tenant occupying more than 7% of the net rentable area. Newmark's shares saw a slight decrease of 0.23% to $11.03.

Portfolio Pulse from Lekha Gupta

December 29, 2023 | 5:21 pm

CGA

FBIO

FSR

GMM

MBOT

TTNP

The Nasdaq Composite fell over 100 points amid a broader market downturn, with the Dow and S&P 500 also declining. Health care shares saw a slight increase, while real estate shares dropped. The Chicago PMI indicated a contraction in economic activity. Fisker Inc. surged after a business update, while China Green Agriculture rose following an acquisition announcement. Titan Pharmaceuticals gained after a reverse stock split. Conversely, Global Mofy Metaverse, Microbot Medical, and Fortress Biotech saw significant declines, with the latter announcing a direct offering priced at-the-market.

Portfolio Pulse from Avi Kapoor

December 29, 2023 | 5:19 pm

ADTX

Aditxt, Inc. (NASDAQ:ADTX) shares have surged over 100% in the past month, with significant trading volume and volatility. The company announced the acquisition of Evofem Biosciences, Inc. for approximately $100 million in stock and assumed debt. The stock's rise may also be influenced by a small float and high short interest, with 19.11% of shares sold short.

Portfolio Pulse from Erica Kollmann

December 29, 2023 | 4:35 pm

GRFS

Grifols, S.A. (NASDAQ:GRFS) shares rose after announcing a strategic alliance and share purchase agreement with Haier Group Corp, involving the sale of a 20% equity stake in Shanghai RAAS for approximately $1.8 billion. The collaboration aims to combine Grifols' plasma and diagnostic expertise with Haier's healthcare solutions, focusing on China's healthcare system. The proceeds will be used to reduce Grifols' debt, and they will retain a 6.58% stake in SRAAS and a board seat. The agreement also extends their exclusive albumin distribution agreement in China for up to 20 years, with guaranteed supply volumes for the next five years. China's albumin demand is over 50% of the global consumption and is expected to grow, which could contribute to Grifols' growth into 2024. GRFS shares were up 9.74% to $11.55.

Portfolio Pulse from Nabaparna Bhattacharya

December 29, 2023 | 4:25 pm

BHAC

Focus Impact BH3 Acquisition (BHAC) has announced a Letter of Intent (LOI) with XCF Global Capital, valuing XCF at $1.75 billion. This move indicates a potential acquisition or merger between the two entities.

Portfolio Pulse from Bill Haddad

December 29, 2023 | 4:18 pm

ARGT

EDN

Argentina's President Javier Milei's reform bill has led to protests and a planned general strike by the CGT union. The bill includes controversial measures such as government employee layoffs, privatization of public companies, and constitutional reforms. The market has reacted negatively, with the S&P Merval index falling 2.5% and 17 out of 23 companies losing ground. However, individual stocks like Edenor (EDN) have seen significant gains year-to-date. The Global X MSCI Argentina ETF (ARGT) initially rose 24% post-election but may be impacted by the current unrest.

Portfolio Pulse from Neil Dennis

December 29, 2023 | 3:41 pm

WBD

Warner Bros. Discovery Inc (NASDAQ:WBD) has acquired Turkish streaming service BluTV, expanding its streaming portfolio. BluTV, established in 2016, has grown its original content and library, and integrated Discovery+ in 2021. Recently, BluTV added HBO content and kids channels. The financial terms of the acquisition were not disclosed. WBD had $2.38 billion in cash and equivalents as of September 30. WBD shares were down by 1.41% at $11.53 last Friday.

Portfolio Pulse from Anusuya Lahiri

December 29, 2023 | 3:29 pm

UNH

UnitedHealth Group Incorporated (NYSE:UNH) is selling its Brazilian operations to a private investor, resulting in an expected $7 billion charge, mostly non-cash due to foreign currency translation losses. This charge will be excluded from adjusted earnings. The sale is anticipated to close in the first half of 2024, pending regulatory approvals. Despite this, UnitedHealth confirms its 2024 adjusted earnings outlook, although net earnings will be affected by the charge. UNH stock saw a slight increase of 0.24% to $526.16.

Portfolio Pulse from Nabaparna Bhattacharya

December 29, 2023 | 3:23 pm

GRFS

Grifols has entered into a Strategic Alliance and Share Purchase Agreement with Haier Group Corp, selling about a 20% equity stake in SRAAS for approximately $1.8 billion. This deal has led to an increase in Grifols' share price.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 3:06 pm

W

The Information's article 'The Information's 2024 Predictions' speculates on potential buyers for Wayfair, naming Temu and Shein as possible candidates.

Portfolio Pulse from Charles Gross

December 29, 2023 | 2:28 pm