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Acquisitions Mergers

FTCH

Farfetch shares have risen after reports that the company's founder is considering taking the company private.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 6:16 pm

FTCH

Jose Neves, the founder of Farfetch, is making a bid to take the luxury fashion site private following a disappointing performance in the US stock market. The company, which went public in 2018, has seen its share price decline significantly since its IPO. Neves believes that taking the company private will allow for more flexibility and long-term planning without the pressures of the public market.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 5:59 pm

AMD

AMD has opened its largest global design center in Bengaluru, India, with plans to invest $400M over the next five years. The new campus, named AMD Technostar, will focus on semiconductor technology, including 3D stacking, AI, and machine learning, and will house around 3,000 engineers. The center will contribute to the development of CPUs, GPUs, SoCs, and FPGAs for various applications. AMD's India workforce constitutes 25% of its global employees. The stock was down 0.6% to $121.85.

Portfolio Pulse from Anusuya Lahiri

November 28, 2023 | 5:50 pm

TWLO

Twilio Inc (NYSE:TWLO) stock is trading higher after activist investor Anson Funds acquired a stake in the company and is advocating for its sale or the divestiture of its data and applications business. Anson's stake is worth approximately $50 million. Twilio has faced challenges, including recent layoffs and restructuring into two business units. Despite these challenges and a significant drop from its 2021 peak, Twilio's stock has increased by 28% year-to-date. The company's market capitalization is around $11.8 billion, and its shares were up by 3.9% to $65.28.

Portfolio Pulse from Anusuya Lahiri

November 28, 2023 | 5:35 pm

AVGO

GOOG

GOOGL

BofA analyst Vivek Arya reaffirmed a Buy rating on Broadcom Inc (AVGO) with a price target of $1200, citing generative AI and custom silicon as key growth drivers. Arya estimates a 2.3% to 7.3% EPS accretion in FY24 and FY25, with potential for over 10% accretion and $60+ EPS in CY25 if synergies are realized quickly. Risks include macro conditions and integrating VMware Inc synergies, as well as managing Broadcom's $67 billion debt. Arya sees any volatility upon VMware's acquisition close as a buying opportunity. Susquehanna analyst Christopher Rolland also maintained a Positive rating on Broadcom, raising the price target from $1010 to $1100. AVGO shares were down slightly at $947.61.

Portfolio Pulse from Anusuya Lahiri

November 28, 2023 | 5:20 pm

CHEK

Symetryx, holding 5.6% of Check-Cap Ltd. (NASDAQ:CHEK) shares, issued an open letter urging shareholders to vote against the Keystone Dental merger and Check-Cap board nominees, citing an unrealistic valuation of Keystone and Check-Cap's troubling cash burn. Symetryx recommends voting for its own slate of director candidates, arguing that the proposed merger is value-destructive and dilutive, and that the Check-Cap board is not acting in shareholders' best interests. Symetryx also highlights ongoing operational concerns, including a deficiency letter from the FDA to Keystone, and criticizes the current board for not engaging with Symetryx's proposals or providing financial transparency.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 5:00 pm

GOOS

Canada Goose Holdings Inc (NYSE:GOOS) has acquired the operating assets of its Romanian partner, Paola Confectii Manufacturing, to enhance its knitwear production capabilities. The acquisition, which is the company's first European facility, aims to improve product margins, supply control, and in-house expertise. Financial terms were not disclosed. Paola Confectii, which has been a partner since 2017, will continue operations under its current leadership. Canada Goose's cash position was C$37.5 million as of October 1, 2023, and its shares saw a 2.17% increase to $10.88.

Portfolio Pulse from Shivani Kumaresan

November 28, 2023 | 4:40 pm

JPM

KBE

KRE

XLF

Daniel Pinto, President of JP Morgan, anticipates ongoing consolidation in the U.S. banking sector, suggesting potential mergers and acquisitions among banks.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 4:26 pm

JPM

JPMorgan President Daniel Pinto anticipates ongoing consolidation in the U.S. banking sector, according to a recent SEC filing.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 4:24 pm

TWLO

Twilio's stock (TWLO) is experiencing an uptick after The Information reported that Anson Funds is pushing for the company to consider a sale or to divest its data and applications business.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 4:01 pm