Streetbeat News

Acquisitions Mergers

LAB

SLGC

Standard BioTools Inc. (LAB) and SomaLogic, Inc. (SLGC) have announced the date for their Special Meetings of Stockholders to vote on their proposed all-stock merger. The meetings are scheduled for January 4, 2024, with stockholders of record as of November 29, 2023, eligible to vote. The merger is expected to close in the first quarter of 2024, pending stockholder approval and other customary closing conditions. Proxy solicitors have been appointed to assist stockholders with voting.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 1:01 pm

ALK

Hawaiian Airlines (NASDAQ:HA) shares surged over 180% in pre-market trading following the announcement that Alaska Air Group, Inc. (NYSE:ALK) plans to acquire the company for $1.9 billion. The merger is expected to expand domestic and international options for customers. Other stocks showed significant movement in pre-market trading, with notable gainers including Hut 8 Mining Corp (NASDAQ:HUT) and Bit Brother Limited (NASDAQ:BETS), and losers such as NLS Pharmaceutics AG (NASDAQ:NLSP) and Panbela Therapeutics, Inc. (NASDAQ:PBLA).

Portfolio Pulse from Lisa Levin

December 04, 2023 | 1:00 pm

CNM

Core & Main, Inc. (NYSE:CNM) is expected to release its Q3 financial results on Dec. 5, 2023, with analysts predicting an EPS of 68 cents, up from 67 cents a year ago, and revenue of $1.83 billion. The company completed the acquisition of assets from Enviroscape ECM, Ltd. CNM's stock closed up 2.8% at $36.00. Analysts from RBC Capital, Wolfe Research, Citigroup, Barclays, and Goldman Sachs have provided ratings and price targets for CNM, with various adjustments and accuracy rates.

Portfolio Pulse from Lisa Levin

December 04, 2023 | 1:00 pm

ERJ

South Korea's Defense Acquisition Program Administration has selected Embraer's C-390 Millennium for its Large Transport Aircraft II public tender. This makes South Korea the first Asian customer for the C-390 Millennium military transport aircraft.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 12:39 pm

GNRC

WBX

Generac has made a minority investment in Wallbox, which includes a board seat and a global commercial agreement to supply energy management systems to Generac's customers. The financial terms of the investment were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 12:36 pm

ATI

DELL

MCD

PSTG

Wall Street analysts with high accuracy rates have made new stock picks, with one analyst predicting over 19% upside for Dell Technologies (DELL). Keybanc's Philip Gibbs sees an 18% surge in ATI Inc. (ATI), Wells Fargo's Zachary Fadem predicts an 18% upside for RH (RH), Oppenheimer's Brian Bittner expects a 10% rise in McDonald's Corporation (MCD), and Wedbush's Matt Bryson forecasts a 19% increase for Pure Storage, Inc. (PSTG). These ratings are based on recent financial news and earnings reports for the respective companies.

Portfolio Pulse from Lisa Levin

December 04, 2023 | 12:19 pm

SSNT

Brad Jacobs, through Jacobs Private Equity II, LLC (JPE), will invest $1 billion in SilverSun Technologies, Inc. (NASDAQ:SSNT), with JPE contributing $900 million and co-investors, including Sequoia Heritage, adding $100 million. Upon closing, JPE will be the majority stockholder, and Jacobs will become CEO and chairman. The deal includes a spin-off of SilverSun's existing business to its stockholders and a rebranding of the company as a platform for future acquisitions in a yet-to-be-announced industry.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 12:18 pm

PUMP

ProPetro has acquired the assets and business operations of Par Five Energy Services LLC, which specializes in cementing services in the Delaware Basin. The terms of the acquisition were not disclosed. The acquired business will be integrated with ProPetro's existing cementing team and brand. ProPetro's management expects the acquisition to increase its 2024 Adjusted EBITDA by about $10 million and convert 80-90% of that EBITDA into free cash flow.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 12:10 pm

AIRE

reAlpha Tech has entered into definitive agreements to acquire Naamche, a move aimed at advancing reAlpha's goal to become a leading AI solutions provider in the real estate industry. The terms of the purchase, including the combination of cash and equity, were not disclosed. Post-acquisition, Naamche's founder and CEO, Ramesh Pathak, will remain at the helm as President.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 12:07 pm

FATH

KITT

NXU

POLA

The article highlights four oversold industrial stocks with RSI values near or below 30, suggesting potential for short-term growth. Nxu, Inc. (NXU) launched a new product but reported a Q3 loss, with shares down 30% over the past month. Nauticus Robotics, Inc. (KITT) announced an acquisition but saw a 33% stock decline over five days. Fathom Digital Manufacturing Corporation (FATH) received a buyout proposal, with an 18% stock drop over the past month. Polar Power, Inc. (POLA) priced a public offering, resulting in a 41% share price fall over five days.

Portfolio Pulse from Lisa Levin

December 04, 2023 | 12:05 pm