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Acquisitions Mergers

OLK

TMO

Thermo Fisher Scientific Inc. has extended its tender offer for all outstanding common shares and ADSs of Olink Holding AB at $26.00 per share/ADS, in cash. The offer, now expiring on January 3, 2024, has seen approximately 97.1% of Olink's outstanding shares tendered. The extension does not require action from shareholders who have already tendered their shares. Completion of the offer is subject to conditions outlined in the tender offer statement filed with the SEC.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 1:09 pm

SWK

Stanley Black & Decker has agreed to sell its STANLEY Infrastructure division to Epiroc AB for $760 million in cash. The Infrastructure division is projected to generate $450 to $470 million in revenue with a mid-to-high teens adjusted EBITDA margin in FY2023. The proceeds from the sale, after taxes, will be used by Stanley Black & Decker to reduce its debt.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 1:02 pm

BONKUSD

SOL

Binance's listing of Solana's meme coin BONK led to a significant price surge, with an increase of over 1000% within a month. A trader capitalized on this by selling 52.3 billion BONK for approximately $927,000, securing a profit of around $784,000. The trader had initially acquired 69 billion BONK at $0.0000021 per token and staked them from October 30 to November 29. The listing on Binance, along with Coinbase's consideration of BONK for its exploration roadmap and the launch of BONKBot, has contributed to the enthusiasm around the token.

Portfolio Pulse from Mehab Qureshi

December 15, 2023 | 1:00 pm

CHEA

Chenghe Acquisition Corp. (CHEA) board approved a potential business combination with Femco Steel Technology Co. on December 15, 2023, as detailed in an SEC filing.

Portfolio Pulse from Charles Gross

December 15, 2023 | 12:32 pm

AMZN

DLTR

ETSY

PDD

Amazon is intensifying its efforts in China to compete with online discount retailers Temu and Shein by engaging China-based sellers. Amazon plans to open an innovation center near Shenzhen to support Asia-Pacific sellers with product launches and digital strategies. The company is also extending its supply chain service to Chinese sellers, which simplifies the movement of goods. Despite not operating in China, Amazon has seen a 20% growth in sales from Chinese sellers in 2023. Temu and Shein are expanding their presence, with Temu capturing 17% of the U.S. discount store market share. Amazon is adjusting seller fees to stay competitive, while Etsy is focusing on non-disposable products to differentiate itself.

Portfolio Pulse from Anusuya Lahiri

December 15, 2023 | 12:10 pm

DRI

Darden Restaurants, Inc. (DRI) has updated its FY24 financial outlook, expecting total sales of approximately $11.5 billion, which is slightly below the estimated $11.57 billion. The company forecasts adjusted EPS of $8.75-$8.90, compared to the estimated $8.81. These projections include the operating results of Ruth's Chris but exclude about $55 million of pre-tax costs related to the acquisition. Other outlook details include same-restaurant sales growth of 2.5%-3.0%, 50-55 new restaurant openings, total capital spending of $600 million, total inflation of 3.0%-3.5%, an effective tax rate of 12%-12.5%, and approximately 121.0 million weighted average diluted shares outstanding.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 12:07 pm

ARRV

BRSH

Bruush Oral Care and Arrive Technology have agreed to a business combination through a reverse triangular merger in an all-stock transaction. The merged entity will be named Arrive Technology Inc. and will trade on the Nasdaq Capital Market under the ticker symbol 'ARRV'.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 12:07 pm

EADSY

ESYJY

RTX

Christopher T. Calio has been appointed as the next CEO of RTX Corporation (NYSE:RTX), effective May 2, 2024, succeeding Gregory J. Hayes. Calio, currently President and COO, will also join the board of directors on December 14, 2023. Hayes will continue as executive chairman. RTX has recently collaborated with EasyJet (OTC:ESYJY) and Airbus SE (OTC:EADSY), and formed a joint venture with Rafael Advanced Defense Systems for missile production. RTX shares saw a slight increase in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

December 15, 2023 | 11:50 am

ACGL

AGBA

APCX

HYW

The article highlights four financial stocks that are considered oversold based on their Relative Strength Index (RSI) values, suggesting they may be undervalued. AGBA Group Holding Limited (AGBA) entered into a private placement offering and has seen a significant stock price drop. Arch Capital Group Ltd. (ACGL) reported better-than-expected earnings but also experienced a stock decline. AppTech Payments Corp. (APCX) announced a registered direct offering and its stock fell sharply. Hywin Holdings Ltd. (HYW) formed a strategic partnership with Tencent Cloud, yet its shares plummeted.

Portfolio Pulse from Avi Kapoor

December 15, 2023 | 11:34 am

IREN

Iris Energy has announced the acquisition of 1.6 EH/s of Bitmain T21 miners, which will increase its self-mining capacity to 10 EH/s. This strategic move is aimed at expanding the company's Bitcoin mining operations and is expected to enhance its overall mining efficiency and output.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 11:28 am