Streetbeat News

Acquisitions Mergers

CHEK

Check-Cap Ltd. received a termination notice from Keystone Dental regarding their previously agreed business combination. The agreement, dated August 16, 2023, involved Keystone, Capstone Dental Pubco, Capstone Merger Sub Ltd, and Capstone Merger Sub Corp.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 2:02 pm

CAT

HON

UBER

UPS

Analysts from Stifel, Goldman Sachs, RBC Capital, UBS, Oppenheimer, Roth MKM, JP Morgan, and Raymond James have provided updates on industrial stocks Caterpillar Inc. (CAT), Honeywell International Inc. (HON), Uber Technologies, Inc. (UBER), and United Parcel Service, Inc. (UPS). The updates include changes in price targets and ratings, reflecting various expectations for stock performance. Notably, Honeywell is acquiring Carrier Global’s Global Access Solutions for $4.95 billion, and Uber has partnered with Tesla to offer discounted electric cars to its drivers.

Portfolio Pulse from Avi Kapoor

December 29, 2023 | 1:52 pm

BABA

PDD

Alibaba Group Holding Ltd (BABA) and JD.com Inc (JD) are intensifying competition in China's e-commerce sector by adopting a 'refund only' policy for dissatisfied customers, a strategy already in use by Pinduoduo (PDD) since 2021. This policy allows customers to receive refunds for products that do not match descriptions, with JD.com's policy effective from December 29. The move reflects the companies' efforts to remain competitive and attract loyal users in a challenging market. Alibaba's stock rose 3.4% last month, while JD.com's increased by 3.9%, with BABA shares closing higher by 1.48% at $77.24 on Thursday.

Portfolio Pulse from Anusuya Lahiri

December 29, 2023 | 1:16 pm

NETI

Eneti Inc notified the NYSE on December 28 that it expects to complete its merger on December 29, resulting in the delisting of its common stock from the NYSE.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 1:16 pm

GLOB

Globant SA (NYSE:GLOB) shares rose after announcing the acquisition of Brazilian firm Iteris Holding, enhancing its operations in Brazil with new digital capabilities and a strong client base. The acquisition aligns with Globant's commitment to growth in Brazil and the Latin American technological landscape. As of September 30, 2023, Globant's cash and short-term investments totaled $219.3 million. GLOB shares increased by 2.98% in premarket trading.

Portfolio Pulse from Lekha Gupta

December 29, 2023 | 1:14 pm

CLF

IBM

RSP

UBER

On CNBC's 'Halftime Report Final Trades,' analysts recommended IBM, RSP, CLF, and UBER. IBM acquired StreamSets and webMethods for €2.13 billion. RSP was picked by Bryn Talkington. CLF, previously interested in acquiring U.S. Steel, is refocusing on share buybacks. UBER reached a 52-week high and plans to enter Japan's taxi market with Tesla vehicles. IBM and RSP shares slightly gained, while CLF and UBER shares saw minor declines.

Portfolio Pulse from Avi Kapoor

December 29, 2023 | 1:01 pm

HQL

Saba Capital Management has disclosed a 5.31% ownership stake in abrdn Life Sciences, as indicated in a 13D filing. The filing suggests that Saba Capital may be taking an active interest in the company, which could lead to potential changes in business strategy, management, or operations.

Portfolio Pulse from Charles Gross

December 29, 2023 | 1:00 pm

UNH

UnitedHealth Group is selling its Brazil operations to a private investor, expecting to record a $7 billion charge, mostly non-cash due to foreign currency translation losses. This charge will impact the company's 2024 net earnings outlook but will be excluded from adjusted earnings.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 12:09 pm

UNH

UnitedHealth Group has agreed to sell its operations in Brazil to a private investor, with the expectation to close the sale in the first half of 2024, according to a recent filing.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 12:05 pm

ABBV

ALPMY

BIIB

BMY

MRK

PFE

The Global Data report indicates a decrease in pharma sector M&A deals in Q3 2023 compared to Q2 2023, with a 28% drop in deal value and a 9% drop in deal volume. However, PricewaterhouseCoopers forecasts a positive outlook for 2024, expecting a return to pre-pandemic levels of M&A activity. Notable deals in 2023 include acquisitions by Pfizer, Bristol Myers Squibb, Merck, AbbVie, Biogen, and Astellas Pharma.

Portfolio Pulse from Vandana Singh

December 29, 2023 | 12:04 pm