Streetbeat News

Acquisitions Mergers

APRN

Blue Apron Holdings, Inc (NASDAQ:APRN) reported a Q3 FY23 sales decline of 9.9% YoY to $98.8 million, surpassing the consensus of $97.6 million. The company's EPS loss improved to $(1.34), beating the consensus loss of $(1.99). Despite a 20.2% YoY decrease in orders, the average order value and revenue per customer increased. The company also improved its adjusted EBITDA loss. Blue Apron agreed to be acquired by Wonder Group in September. The stock has gained 131.4% in the last six months and 42.3% YTD.

Portfolio Pulse from Anusuya Lahiri

November 09, 2023 | 5:17 pm

USFD

US Foods Holding Corp (USFD) reported Q3 FY23 sales growth of 2.1% YoY to $9.106 billion, slightly missing the analyst consensus estimate. Total case volume rose 4%, and independent restaurant case volume grew 5.8%. The company also reported an increase in gross profit and operating expenses. Adjusted EPS was $0.70, beating the estimate. The company also announced the acquisition of Saladino's Foodservice. USFD raised its FY23 adjusted EPS outlook and adjusted EBITDA guidance. USFD shares are trading higher by 0.65% at $41.35.

Portfolio Pulse from Shivani Kumaresan

November 09, 2023 | 4:57 pm

AOGO

Arogo Capital Acquisition Corp. (AOGO) has announced the termination of its merger agreement with EON Reality, Inc. As a result, Arogo will seek an alternative business combination.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 4:33 pm

BILL

Shares of Bill.com (BILL) are trading lower following a report suggesting the company is nearing a deal to acquire Melio Payments. However, the company has denied such acquisition plans.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 3:56 pm

COIN

FTTUSD

SEC Chair Gary Gensler has stated that FTX (CRYPTO: FTT) could operate successfully under new leadership if it adheres to the law. This comes amid reports that Tom Farley, former president of the New York Stock Exchange, is among the top contenders to acquire the bankrupt crypto exchange. Gensler emphasized the importance of building investor trust and ensuring proper disclosures. FTX’s founder, Sam Bankman-Fried, was recently found guilty on all seven criminal counts against him, including fraud and money laundering charges.

Portfolio Pulse from Murtuza Merchant

November 09, 2023 | 3:49 pm

BILL

BILL (NYSE:BILL), a financial automation software company, has responded to market rumors about a potential acquisition, stating that it is not pursuing any such acquisition at this time.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 3:41 pm

ASTR

Astra Space Inc's shares are trading higher after the company received a non-binding proposal from its founders to acquire all of its outstanding common stock. Founders Chris Kemp and Adam London proposed to acquire all of the outstanding common stock they do not currently own for $1.50 per share in cash. A special committee formed by the board plans to review and consider the offer.

Portfolio Pulse from Adam Eckert

November 09, 2023 | 3:08 pm

CPK

Chesapeake Utilities Corporation (NYSE:CPK) has announced a public offering of $330 million of its common stock. The company also plans to grant underwriters a 30-day option to purchase up to $49.5 million of additional shares. The net proceeds will be used to partially fund the acquisition of Florida City Gas, expected to close in Q4 2023, and to pay related fees and expenses. Barclays Capital Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC are the joint lead book-running managers for the offering.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 2:26 pm

CUEN

WHEN

Cuentas, Inc. (NASDAQ:CUEN) has announced the final stage of its fintech and mobile product development, targeting the $18B North American market. The company is updating its 'Cuentas 360' and 'Cuentas' Mobile Apps with first-to-market features, including a gaming library and token rewards. Cuentas also disclosed a premium price per share of $10 for the majority acquisition of World Health Energy Holdings, Inc. (OTC:WHEN). The company expects to launch its application in a selected end-user test group in the next ninety days.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 2:21 pm

ASTR

Astra Space's shares are trading higher following a non-binding proposal from founders Chris Kemp and Adam London to acquire all outstanding common stock not currently owned by them.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 2:10 pm