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Acquisitions Mergers

PFE

SGEN

Truist Securities analyst Robyn Karnauskas has reiterated a Buy rating on Pfizer (PFE) but lowered the price target from $42 to $36 due to conservative 2024 guidance, particularly a lower $8 billion COVID-19 product forecast. The analyst is optimistic about long-term growth from the Seagen (SGEN) acquisition, which aligns with Pfizer's 2030 vision. Pfizer's FY2024 revenue guidance is set between $58.5 billion and $61.5 billion, including $8 billion from COVID-19 products and $3.1 billion from Seagen. The analyst has adjusted revenue and EPS forecasts for 2023-2025 and notes that combo vaccines could boost long-term COVID-19-related revenue. Pfizer's shares dropped by 1.86% to $26.17.

Portfolio Pulse from Nabaparna Bhattacharya

December 14, 2023 | 6:34 pm

UL

Unilever Plc is reportedly in advanced discussions to sell its Elida Beauty division, which houses brands like Q-Tips and Impulse, to private equity firm Yellow Wood Partners. This move is part of Unilever's strategy to divest from non-core assets and streamline its portfolio.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 6:14 pm

VGZ

WPM

Vista Gold Corp. stock (VGZ) has risen following the announcement of a $20 million royalty agreement with Wheaton Precious Metals for the Mt Todd gold project.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 5:59 pm

CRLBF

CURLF

CWBHF

LFLY

MAPS

TLRY

MGO released its annual 'Cannabis 50' list, recognizing influential companies, organizations, and individuals in the cannabis and hemp sectors over the past five years. The list highlights the industry's progress and optimism for rescheduling cannabis. It includes companies like Charlotte’s Web Holdings, Cresco Labs, Curaleaf Holdings, and others. Athletes and entertainers are noted for mainstreaming the industry, and the list also acknowledges entities contributing to social progress and legislative reform.

Portfolio Pulse from Javier Hasse

December 14, 2023 | 5:55 pm

AYX

Insight Partners and Clearlake Capital Group are in advanced discussions to purchase Alteryx Inc at approximately $50 per share, according to Reuters News.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 5:53 pm

VCIG

VCI Global's financial technology arm, Accuventures Sdn Bhd, is set to acquire EVOLET, causing VCI Global shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 5:52 pm

GME

GameStop (NYSE:GME) is shifting strategy to acquire undervalued companies close to bankruptcy, leveraging its financial strength and CEO Ryan Cohen's experience in turning around struggling retailers. With $1.2 billion in cash and minimal debt, GameStop aims to buy distressed retail assets cheaply, expanding into new markets and e-commerce.

Portfolio Pulse from Kevin Malone

December 14, 2023 | 5:46 pm

BTCUSD

META

The article discusses the significant rise in Bitcoin's value since former President Donald Trump criticized it in 2019, stating it was 'based on thin air.' Bitcoin has recently surpassed $44,000, marking new 52-week highs. Trump, who has since launched three NFT collections, is among the 2024 presidential candidates, some of whom support cryptocurrency. An investment of $1,000 in Bitcoin at the time of Trump's tweet would now be worth $3,510.84, a 251.1% return. Meta Platforms Inc. (META) was also mentioned in relation to its virtual currency project, Libra.

Portfolio Pulse from Chris Katje

December 14, 2023 | 5:46 pm

CPTN

Cepton, Inc. (CPTN) and its partner Koito Manufacturing were previously selected as the sole lidar providers for a significant ADAS program through 2027. However, Koito has informed Cepton that the OEM has rescoped its ADAS offerings, leading to the cancellation of all outstanding purchase orders related to the series production award. Cepton plans to seek recovery of project investment costs and continues to work with the OEM on next-generation ADAS offerings. The collaboration with Koito and engagement with other OEMs is expected to continue.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 5:42 pm

SOUN

SoundHound (NASDAQ:SOUN) CEO Keyvan Mohajer shared his journey from Iran to leading a voice AI technology company. After immigrating to Canada and overcoming hardships, he pursued his passion for AI, leading to the creation of SoundHound. The company, which recently went public and completed its first acquisition of SYNQ3, focuses on voice AI for various applications, including drive-through technology. Despite challenges, Mohajer remains committed to innovation and the potential of voice AI.

Portfolio Pulse from Stjepan Kalinic

December 14, 2023 | 5:27 pm