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Acquisitions Mergers

DASH

DOCU

FIVN

MSFT

NFLX

PTON

ROKU

TDOC

Zoom Video Communications Inc (ZM) is being removed from the Nasdaq 100 index due to its lagging stock performance, with only a 5.7% rise in 2023. The company's growth has slowed post-pandemic, facing competition from Microsoft Corp's (MSFT) Teams. Other companies like Peloton (PTON), Teladoc Health (TDOC), and DocuSign (DOCU) have also seen declines. Zoom is diversifying its offerings and considering acquisitions, such as Five9 Inc (FIVN), for growth. In contrast, Roku (ROKU), Netflix (NFLX), and DoorDash (DASH) have made substantial gains, with DASH joining the Nasdaq 100.

Portfolio Pulse from Anusuya Lahiri

December 18, 2023 | 4:50 pm

ZIMV

ZimVie's stock price has risen following the announcement of an agreement to sell its spine business to H.I.G. Capital for $375 million.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 4:34 pm

CPNG

FTCH

Farfetch shares are trading lower following the announcement that Coupang plans to acquire the business and assets of the company.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 4:33 pm

ZJYL

JinMed's stock price has declined following the announcement of a preliminary memorandum of understanding to potentially acquire a full or partial stake in Zhongjin Kanglu.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 4:23 pm

ACN

Accenture plc (NYSE:ACN) is expected to report an increase in Q1 earnings to $3.14 per share from $3.08 a year ago, with projected revenue of $16.20 billion. The company has also recently agreed to acquire Vocatus. Ahead of the earnings call, analysts have revised their forecasts and ratings for ACN. Wedbush's Moshe Katri upgraded the price target to $360, Redburn Atlantic's Alex Haissl set a target of $410, BMO Capital's Keith Bachman reduced the target to $350, Baird's David Koning lowered it to $322, and Citigroup's Ashwin Shirvaikar maintained a target of $358.

Portfolio Pulse from Avi Kapoor

December 18, 2023 | 4:18 pm

PBLA

Panbela Therapeutics' stock is trading higher following the FDA approval of eflornithine, which was part of the assets divested by Panbela to US WorldMeds for their pediatric neuroblastoma program.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 4:11 pm

EBIX

Ebix, Inc. and its US affiliates have filed for Chapter 11 bankruptcy protection and have entered into a stalking horse agreement to sell their North American Life and Annuity assets to Zinnia. As a result, Ebix shares are trading lower.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 4:07 pm

CLF

PGTI

ZIMV

ZimVie Inc. (ZIMV) shares surged after announcing the sale of its spine business to H.I.G. Capital for $375 million, including $315 million in cash and a $60 million promissory note. United States Steel Corporation (X) also saw a significant rise after Nippon Steel's acquisition announcement. Other stocks like PGT Innovations (PGTI) and Cleveland-Cliffs Inc. (CLF) recorded gains, with PGTI being acquired by Masonite and CLF responding to the U.S. Steel acquisition news.

Portfolio Pulse from Avi Kapoor

December 18, 2023 | 3:57 pm

DOOR

PGTI

Shares of PGT Innovations Inc (PGTI) surged while Masonite International Corp (DOOR) shares declined following the announcement of Masonite's acquisition of PGT Innovations for $3.0 billion. The deal includes a mix of cash and Masonite shares, valuing PGTI at a 24% premium over its 30-day volume-weighted average share price. Post-acquisition, Masonite shareholders will own approximately 84% of the combined entity. The acquisition is expected to close in mid-2024 and is anticipated to be accretive to Masonite's EPS in the first full year. PGTI shares rose 8.8% to $39.28, while DOOR shares fell 13.14% to $88.60.

Portfolio Pulse from Lekha Gupta

December 18, 2023 | 3:50 pm

Jefferies reports that Macy's has received additional buyout interest from private equity firm Sycamore Partners. Jefferies maintains a fair value range for Macy's stock at $25-$32 and reiterates a 1-year price target of $27.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 3:43 pm