Streetbeat News

Acquisitions Mergers

QGEN

QIAGEN (NYSE:QGEN) and DNA Labs International (DLI) have successfully solved two cold cases using QIAGEN's ForenSeq Kintelligence System for forensic genetic genealogy and the GEDmatch database. The cases include the identification of remains found in 2005 in Oregon and solving a 51-year-old criminal case in Georgia. QIAGEN's technology, which can handle DNA degradation, was pivotal in these investigations. The company has a leading position in the human identification and forensics market and recently acquired Verogen to expand its NGS-based forensic products.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 9:24 pm

SKT

Tanger Factory Outlet Centers, Inc. has expanded its portfolio by acquiring Bridge Street Town Centre in Huntsville, Alabama, for $193.5 million. This acquisition aligns with Tanger's strategy to pursue external growth through market-dominant open-air centers.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 9:20 pm

AAPL

AMZN

CMCSA

FOX

FWONA

FWONK

WBD

Amazon.com, Inc (AMZN) has secured media rights for NASCAR, adding to its sports streaming portfolio which includes 'Thursday Night Football'. The deal, starting in 2025 and lasting through 2031, makes Prime Video the first 'fully direct-to-consumer partner' for NASCAR. Fox Corporation (FOX, FOXA) and Comcast Corporation (CMCSA) renewed their NASCAR media rights, while Warner Bros. Discovery (WBD) also became a new media partner. The financial terms were not disclosed. Amazon's success with NFL viewership, particularly attracting younger audiences, may have influenced NASCAR's decision. Amazon's aggressive sports rights strategy could extend to NBA games, while Apple Inc (AAPL) is also pursuing sports rights, including Formula One (FWONA, FWONK).

Portfolio Pulse from Chris Katje

November 30, 2023 | 8:24 pm

ABBV

AbbVie's stock is trading higher following the announcement of its acquisition of ImmunoGen for $10.1 billion, gaining access to the cancer therapy ELAHERE.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 8:17 pm

YOSH

Yoshiharu Global Co (NASDAQ:YOSH) stock dropped 38% to $5.69 amid volatility following a 1-for-10 reverse stock split to comply with Nasdaq listing rules. The split affected equity awards and warrants, with fractional shares rounded up. Yoshiharu also plans to acquire Las Vegas restaurant assets for $3.6 million, aiming to boost revenue by 80% with four new establishments in early 2024. The company targets managing 13 restaurants by year-end to strengthen its Las Vegas presence and financial growth.

Portfolio Pulse from Henry Khederian

November 30, 2023 | 7:54 pm

CBRL

IMGN

LIZI

POET

PSTG

REX

SNGX

The Nasdaq fell over 100 points while the Dow Jones gained around 300 points. Cracker Barrel's shares slid after reporting a decrease in Q1 revenues and adjusted EPS, missing consensus estimates. Soligenix, REX American Resources, and ImmunoGen saw significant share price increases, with ImmunoGen being acquired by AbbVie. Lizhi Inc., POET Technologies, and Pure Storage experienced notable declines in share prices following their respective earnings reports and public offering news. The health care sector rose, while communication services fell. Oil and gold prices dropped, while silver and copper rose. European shares closed mostly higher, and Asian markets ended on a positive note. U.S. economic data showed mixed results with a slight increase in personal spending and income, a rise in jobless claims, and a drop in pending home sales.

Portfolio Pulse from Lisa Levin

November 30, 2023 | 7:12 pm

EWC

The Government of Canada has agreed to purchase up to 16 Boeing P-8A Poseidon aircraft, with deliveries starting in 2026. The deal is reported to be valued at $5.9 billion.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 6:38 pm

AMZN

GOOG

GOOGL

META

MSFT

Major tech companies like Amazon (AMZN), Alphabet (GOOG/GOOGL), Microsoft (MSFT), and Meta Platforms (META) are focusing on cost control and AI, scaling back their workforce despite business growth. This shift from rapid expansion to prioritizing shareholder value and margins involves targeted job cuts and reallocating resources to AI projects. The tech sector has seen significant layoffs, with Google, Meta, Microsoft, and Amazon reducing their workforces by 12,000, 21,000, 10,000, and 27,000 employees respectively. The industry's layoffs have surged to 141,516 in the first half of the year, a stark increase from the previous year's 6,000.

Portfolio Pulse from Anusuya Lahiri

November 30, 2023 | 6:14 pm

DIS

Nelson Peltz and Trian Fund Management are seeking to obtain more than two seats on Disney's board, hinting at a possible proxy fight. Disney is aiming for $7.5 billion in cost savings and views the move as potentially motivated by a personal vendetta from Ike Perlmutter, a former executive. Despite restructuring efforts and cost-saving targets, Disney declined Trian's offer for board inclusion. Disney's stock (DIS) saw a slight increase of 0.06% to $92.56.

Portfolio Pulse from Vandana Singh

November 30, 2023 | 5:25 pm

RWBYF

Red White & Bloom Brands Inc. (RWBYF), a Canadian MSO, reported increased Q3 2023 revenue of CA$20.1 million and a net loss decrease to CA$6.5 million. Adjusted EBITDA rose to CA$1.6 million. The company reduced expenses and expanded into Ohio, with a focus on high-margin products and the upcoming Aleafia acquisition. RWBYF's stock surged 70.25% to $0.0475 per share.

Portfolio Pulse from Patricio Liddle

November 30, 2023 | 4:43 pm