Streetbeat News

Acquisitions Mergers

KR

Stephens & Co. has maintained its Equal-Weight rating on Kroger (NYSE:KR) but lowered its price target from $52.00 to $50.00. Kroger's shares are currently trading at $44.20, down 0.15% over the last 24 hours. The new price target suggests a potential upside of 13.11%. Kroger, a leading American grocer, is in the process of acquiring Albertsons in a $25 billion deal, pending regulatory approval, expected to close in 2024.

Portfolio Pulse from Benzinga Insights

December 01, 2023 | 5:00 pm

VSTO

Vista Outdoor Inc (NYSE: VSTO) announced leadership changes with the resignation of Gary L. McArthur as Interim CEO, effective December 1, 2023. McArthur will continue as an independent Director. Eric Nyman and Jason Vanderbrink have been appointed as Co-CEOs, with no additional compensation for their new roles. Additionally, Andrew Keegan has been appointed as CFO after serving as Interim CFO since November 2022. VSTO shares saw a slight decline of 0.51% to $28.07.

Portfolio Pulse from Shivani Kumaresan

December 01, 2023 | 4:09 pm

LLY

NVO

Cantor Fitzgerald initiated coverage on Novo Nordisk A/S (NVO), Europe's most valuable company, with an Outperform rating and a price target of $120. Novo Nordisk, a leader in the obesity space, competes primarily with Eli Lilly (LLY) and is expected to benefit from the growing obesity market. The company's drugs Wegovy and Ozempic are in high demand, and Novo Nordisk is well-positioned against potential new competitors due to its data, commercial infrastructure, and manufacturing capacity. Novo Nordisk anticipates FY23 sales and operating profit growth significantly above its large-cap pharma peers. CEO Lars Fruergaard Jorgensen expressed intentions to pursue 'bolt-on' acquisitions. NVO shares were down 0.50% at $101.35 last Friday.

Portfolio Pulse from Vandana Singh

December 01, 2023 | 3:55 pm

CI

DBVT

KTRA

MD

PDCO

The article lists the top 5 oversold health care stocks with potential for growth in December, based on their low Relative Strength Index (RSI) values. Cigna Group (CI) is in talks for a merger with Humana, DBV Technologies (DBVT) announced positive trial results, Kintara Therapeutics (KTRA) is starting a new study, Pediatrix Medical Group (MD) reported downbeat earnings, and Patterson Companies (PDCO) reported sales missing consensus.

Portfolio Pulse from Lisa Levin

December 01, 2023 | 3:47 pm

LVO

LiveOne's music publishing subsidiaries Splitmind and Drumify have reported a 300% increase in revenues in 2023. Splitmind, founded by Aidan Crotinger, has produced for major artists and achieved over 3 billion streams globally. It boasts a catalog of over 50,000 copyrights on Drumify.com. LiveOne (NASDAQ:LVO), the parent company, acquired Splitmind in 2023.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 3:37 pm

ETRN

According to Bloomberg, Equitrans Midstream Corp. is exploring strategic alternatives, which may include a potential sale of the company. This move comes as the energy sector is undergoing significant changes and companies are looking for ways to maximize value for shareholders.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 3:32 pm

FRHC

Freedom Holding Corp. has been approved to implement a strategic plan to enter the telecommunications market in Kazakhstan, aiming to expand its business operations.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 3:20 pm

MARA

MSTR

Marathon Digital Holdings Inc (MARA) shares rose 7.4% amid a surge in Bitcoin prices following MicroStrategy Inc's (MSTR) purchase of 16,130 Bitcoins. The SEC's acknowledgment of Fidelity's filing for an Ethereum ETF also contributed to the positive sentiment in crypto stocks. Bitcoin miners like MARA benefit from higher Bitcoin prices, which can lead to increased revenue and profitability.

Portfolio Pulse from Henry Khederian

December 01, 2023 | 3:17 pm

ZI

A recent M&A blog post has indicated that there is activist interest in ZoomInfo Technologies Inc. (ZI), suggesting that there may be potential mergers and acquisitions activity involving the company.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 3:09 pm

CGC

Canopy Growth Corporation (CGC) has completed the sale of its sports drinks unit, BioSteel Canada and BioSteel Manufacturing, LLC, for $30.4 million. The transactions with the Coachwood Group and another third party will help Canopy Growth focus on its core cannabis operations and improve its balance sheet by using a portion of the proceeds to repay debt. The Ontario Superior Court of Justice approved the sale, and Canopy's shares saw a 3.2216% increase to $0.5479 per share following the announcement.

Portfolio Pulse from Jelena Martinovic

December 01, 2023 | 2:28 pm