Streetbeat News

Acquisitions Mergers

PHX

WhiteHawk Energy has sent a letter to PHX Minerals urging them to engage in discussions regarding a $4.00 per share proposal. WhiteHawk has been attempting to engage with PHX for 18 months to maximize shareholder value through a transaction.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 8:07 pm

BTBT

Bit Digital has acquired Enovum Data Centers for approximately $46 million, integrating its HPC operations with a Tier 3 datacenter. This acquisition allows Bit Digital to diversify its customer base and expand service offerings.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 8:02 pm

LBPH

MTEM

SLI

TVGN

VERB

VEV

U.S. stocks rose on Monday, with the Dow, NASDAQ, and S&P 500 all posting gains. Longboard Pharmaceuticals shares surged after announcing an acquisition by Lundbeck. Tevogen Bio and Verb Technology also saw significant stock increases, while Molecular Templates and Standard Lithium faced declines.

Portfolio Pulse from Avi Kapoor

October 14, 2024 | 7:06 pm

HOLX

Hologic Inc (NASDAQ:HOLX) has agreed to acquire Gynesonics, Inc. for $350 million to enhance its fibroid treatment offerings. Gynesonics' Sonata System offers a minimally invasive solution for uterine fibroids. Analysts believe the acquisition will not significantly impact Hologic's operating margins but will expand its product suite. Hologic is expected to report its fiscal fourth-quarter earnings in early November, with analysts forecasting adjusted EPS of $1.01 and revenues of $977.05 million.

Portfolio Pulse from Vandana Singh

October 14, 2024 | 6:07 pm

ACN

Accenture has acquired Joshua Tree Group to enhance distribution center performance for retail and consumer goods clients. This acquisition will expand Accenture's capabilities in designing autonomous supply chains using AI-powered tools.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 5:52 pm

BIIB

LLY

Eli Lilly plans to invest $294.41 million in a new Gateway Lab in the U.K., enhancing its presence in the life sciences sector. However, its Alzheimer's drug, donanemab, faces regulatory challenges in Europe due to safety concerns. The European Medicines Agency has been cautious, having already rejected a similar drug by Biogen and Eisai. The U.K. is reviewing donanemab, but challenges remain due to the cost and complexity of early Alzheimer's diagnosis.

Portfolio Pulse from Vandana Singh

October 14, 2024 | 5:52 pm

JNJ

Johnson & Johnson (JNJ) is set to release its Q3 earnings on Oct. 15, with expected earnings of $2.21 per share and revenue of $22.16 billion. The company recently completed the acquisition of V-Wave. Analysts have revised their ratings and price targets, with mixed views on the stock.

Portfolio Pulse from Avi Kapoor

October 14, 2024 | 5:48 pm

BLCO

DJT

NVDA

SIRI

U.S. stocks rose on Monday, with notable gains for NVIDIA, Trump Media & Technology, Bausch + Lomb, and Sirius XM. NVIDIA's shares increased by 2.9% following a recommendation from a Chinese think tank to continue using its chips. Trump Media surged 16.2% after launching a new streaming service. Bausch + Lomb rose 8.8% after FDA approval of a product and potential acquisition interest. Sirius XM gained 8.1% as Berkshire Hathaway increased its stake.

Portfolio Pulse from Avi Kapoor

October 14, 2024 | 5:47 pm

APO

Legendary Entertainment has been acquired solely by its management and funds managed by affiliates of Apollo Funds. The buyout was self-funded using cash on the balance sheet, without any outside financing. The board will be evenly split between management and Apollo.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 5:05 pm

APO

Legendary Entertainment has bought out Wanda Group's remaining stake, marking a new era for the studio. The transaction was funded entirely from Legendary's cash reserves, without involving partner Apollo Global. Apollo and Legendary now co-own the company, with an evenly split board.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 5:04 pm