Streetbeat News

Acquisitions Mergers

LOWLF

Lowell Farms Inc. has entered into management services agreements with two cannabis retail dispensaries in Los Angeles, with an option to acquire equity ownership. This move aims to enhance vertical integration and strengthen brand loyalty in the California cannabis market. Ann Lawrence has been appointed as executive chairperson to lead retail expansion efforts.

Portfolio Pulse from Nina Zdinjak

October 11, 2024 | 2:01 am

CNPOF

CNTMF

SMG

RIV Capital Inc. and Cansortium Inc. have received approval from the New York Cannabis Control Board for their merger, expected to close by the end of 2024. This merger positions the combined company to cover 25% of the U.S. population with significant cultivation and retail operations. The merger offers a unique opportunity for cannabis investors, with RIV Capital's partnership with The Hawthorne Collective, a subsidiary of ScottsMiracle-Gro, further strengthening its position.

Portfolio Pulse from Nicolás Jose Rodriguez

October 10, 2024 | 9:21 pm

AEHR

Aehr Test Systems reported better-than-expected Q1 results, with earnings and revenue surpassing analyst estimates. The company also highlighted strong bookings and a strategic focus on expanding into new markets. Shares rose over 10% in after-hours trading.

Portfolio Pulse from Erica Kollmann

October 10, 2024 | 8:46 pm

SNY

Clayton Dubilier & Rice is close to acquiring Sanofi's consumer health unit for approximately €15 billion ($16.4 billion), marking a significant European transaction.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 8:17 pm

TGI

Triumph Group shares are experiencing an uptick in trading activity following reports that the company is considering a sale.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 7:45 pm

TGI

Triumph Group, a manufacturer of aircraft parts, is reportedly exploring a sale, according to Bloomberg. This development could impact the company's stock price as investors react to potential changes in ownership and strategic direction.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 7:28 pm

NVS

OKUR

OnKure Therapeutics Inc (NASDAQ:OKUR) has completed a merger with Reneo Pharmaceuticals and initiated trading. Oppenheimer has given OnKure an Outperform rating with a $35 price target, highlighting its innovative breast cancer treatment, OKI-219. The company has secured $65 million in private placement, ensuring a cash runway through Q4-2026. OKI-219 is noted for its selectivity in targeting PI3Kα mutations, offering a promising alternative to Novartis AG's (NYSE:NVS) alpelisib, which faces toxicity concerns.

Portfolio Pulse from Vandana Singh

October 10, 2024 | 6:43 pm

FA

First Advantage Corporation (NASDAQ:FA) shares are trading lower after Wolfe Research downgraded the stock from Outperform to Peer Perform, withdrawing its $20 price target and setting a fair value range of $20 to $23. Wolfe remains optimistic about the company's structural strength and potential benefits from vendor consolidation trends, but is concerned about declining employee separation and quit rates. The acquisition of STER is seen as beneficial for diversification and global presence.

Portfolio Pulse from Dylan Berman

October 10, 2024 | 6:20 pm

CTLT

LLY

NVO

Senator Elizabeth Warren has urged the FTC to investigate Novo Nordisk's proposed $16.5 billion acquisition of Catalent due to antitrust concerns. Critics fear the merger could increase Novo Nordisk's control over the GLP-1 market, potentially driving up prices and limiting competition. Novo Nordisk already holds a dominant market share with its drugs Ozempic and Wegovy. The acquisition could also impact Eli Lilly, a competitor in the GLP-1 market, as Catalent works with both companies.

Portfolio Pulse from Vandana Singh

October 10, 2024 | 5:12 pm

FFIE

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) shares rose due to momentum from acquiring a 10% stake in Grow Fandor, transferred from YT Jia's personal holdings. This move aims to foster collaboration and potential synergies between the companies. FFIE shares increased over 5% on high trading volume, driven by retail interest and high volatility.

Portfolio Pulse from Vaishali Prayag

October 10, 2024 | 4:55 pm