Streetbeat News

Acquisitions Mergers

BOWL

GLPI

VICI

Goldman Sachs analyst Caitlin Burrows provided investor feedback on VICI Properties Inc's diversification strategy and Gaming and Leisure Properties Inc's future acquisitions. VICI's recent $432.9 million sale-leaseback deal with Bowlero Corp was seen positively due to Bowlero's strength and the potential for more acquisitions. VICI's non-gaming exposure is expected to grow, with an 11.6% AFFOPS growth projected for 2023. GLPI, however, has limited visibility into future acquisitions. VICI is rated as Buy and GLPI as Neutral by Goldman Sachs. VICI's stock saw a slight decrease, while GLPI's stock increased.

Portfolio Pulse from Lekha Gupta

December 22, 2023 | 7:00 pm

PARA

WBD

Warner Bros. Discovery Inc (WBD) and Paramount Global (PARA) have gained analyst support amid intensifying merger talks. Benchmark analyst Matthew Harrigan reaffirmed a Buy rating on WBD with a $24 price target, despite market skepticism over a potential deal with PARA. Harrigan also outlined potential synergies and leverage outcomes from a merger. Analyst Daniel L. Kurnos reiterated a Buy rating on PARA with a $30 price target, highlighting potential synergies and the possibility of a revived BET deal. WBD shares were down 1.78% at $11.28, while PARA shares were down 0.52% at $14.99.

Portfolio Pulse from Anusuya Lahiri

December 22, 2023 | 6:52 pm

AIR

BMY

KRTX

NKE

TGI

AAR Corp. (NYSE:AIR) shares dropped by 7% after reporting mixed Q2 results, with sales missing and EPS beating consensus. AAR also acquired Triumph Group Inc's (NYSE:TGI) Product Support business for $725 million. Other stocks experienced significant movements, with NextPlay Technologies, Inc. (NASDAQ:NXTP) and Jin Medical International Ltd. (NASDAQ:ZJYL) among the top gainers, while AlloVir, Inc. (NASDAQ:ALVR) and Jayud Global Logistics Limited (NASDAQ:JYD) were among the biggest losers. Notably, Karuna Therapeutics, Inc. (NASDAQ:KRTX) surged after an acquisition announcement by Bristol Myers Squibb & Co (NYSE:BMY), and NIKE, Inc. (NYSE:NKE) fell after mixed earnings and a cost savings plan announcement.

Portfolio Pulse from Avi Kapoor

December 22, 2023 | 6:28 pm

BGNE

BMY

MRNA

PFE

HBM Holdings' subsidiary Nona Biosciences has entered a licensing deal with Pfizer-owned Seagen Inc. for an antibody-drug conjugate (ADC) with an initial payment of $53 million and up to $1.05 billion in milestones. Despite this, HBM shares dropped due to the deal's perceived modesty compared to a larger deal between Sichuan Biokin and Bristol-Myers Squibb. HBM's revenue increased by 48% in the first half of the year, and the company turned a profit for the first time. Future revenues depend on clinical trial outcomes and partner decisions, with HBM's valuation still considered low compared to peers.

Portfolio Pulse from The Bamboo Works

December 22, 2023 | 6:11 pm

ANSS

BMY

GLD

IWM

KRTX

MRNA

NKE

UUP

The S&P 500 and Nasdaq 100 are aiming for their eighth consecutive week of gains, buoyed by a larger-than-expected drop in the Fed's preferred inflation gauge, the PCE price index. The iShares Russell 2000 ETF (IWM) outperformed large-cap indices, while the Invesco DB USD Index Bullish Fund ETF (UUP) and SPDR Gold Trust (GLD) remained steady. ANSYS, Inc. (ANSS) saw a surge in stock price due to potential sale news, while NIKE Inc. (NKE) shares fell after missing revenue estimates. Brystol Myers Squib (BMY) rose after announcing the acquisition of Karuna Therapeutics (KRTX), and Moderna Inc. (MRNA) continued its upward trend.

Portfolio Pulse from Piero Cingari

December 22, 2023 | 6:04 pm

BLK

BTCUSD

GBTC

BlackRock (NYSE:BLK) has filed with the SEC to launch a Bitcoin (CRYPTO: BTC) spot ETF, following a precedent of security-focused refilings by other firms. Grayscale Bitcoin Trust (GBTC) is also pushing for ETF conversion, with a court siding with them against the SEC. BlackRock's interest in Bitcoin ETFs is driven by the potential for democratizing investing, portfolio diversification, and revenue streams. The success of such ETFs could significantly impact Bitcoin's market cap and legitimize digital assets, as evidenced by a false tweet that temporarily spiked Bitcoin's price.

Portfolio Pulse from Robert Janeiro

December 22, 2023 | 6:03 pm

CAN

EBON

HOOK

MARA

WBD

Benzinga's Stock Whisper Index highlights five stocks: Marathon Digital Holdings (MARA), HOOKIPA Pharma (HOOK), Ebang International Holdings (EBON), Canaan Inc (CAN), and Warner Bros. Discovery (WBD). MARA has surged due to Bitcoin's rise and an analyst's price target increase. HOOK rose after Gilead Sciences (GILD) bought shares, with potential for more purchases. EBON and CAN, both related to Bitcoin mining, saw significant gains. WBD's stock declined amid rumors of a potential merger with Paramount Global (PARA, PARAA).

Portfolio Pulse from Chris Katje

December 22, 2023 | 5:53 pm

DoubleVerify Holdings Inc (NYSE:DV) is expected to see a 23% revenue growth in 2024, the fastest among all digital advertising companies covered by Needham. Analyst Laura Martin maintains a Buy rating and a price target of $45. The growth is attributed to several factors including social video impression growth, the SciBids acquisition, margin expansion, free cash flow growth, GenAI, retail media networks, immunity to cookie deprecation, and strong asset productivity trends. The digital advertising industry's growth suggests a long-term growth runway for DV, with a potential $800mm yearly revenue upside from CTV ad impressions verification. DV shares rose by 2.74% to $37.52.

Portfolio Pulse from Priya Nigam

December 22, 2023 | 5:40 pm

ANSS

ANSYS, Inc. (ANSS) shares have risen after a Bloomberg report indicated that the company is considering various strategic options, including a potential sale, in response to acquisition interest.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 5:24 pm

ANSS

Bloomberg reported on December 21 that Ansys, an engineering software firm, is considering a sale due to takeover interest. The news could indicate a significant change in the company's future and may affect its stock price as investors react to the potential for acquisition.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 5:20 pm