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Acquisitions Mergers

BGS

SENEA

SENEB

Seneca Foods Corporation has purchased assets related to the Green Giant U.S. shelf-stable business from B&G Foods. The company has also entered into a license agreement for use of the Green Giant brand name for Green Giant shelf-stable products. B&G Foods will retain ownership of the Green Giant trademarks.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 10:22 pm

FCPT

Four Corners Property Trust (NYSE:FCPT) has acquired a Taco Bell property for $2.2 million. The property is located in Oklahoma and is operated under a triple net lease to K-MAC Enterprises, with about five years of term remaining. The transaction was priced at a 7.3% cap rate on rent.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 10:12 pm

BGS

B&G Foods, Inc. (NYSE:BGS) has sold its Green Giant U.S. shelf-stable vegetable product line to Seneca Foods Corporation. B&G Foods will retain ownership of the Green Giant trademarks and will license the Green Giant brand name to Seneca Foods. The sale does not include Green Giant frozen, Green Giant Canada or the Le Sueur brand. The proceeds from the sale will be used for the repayment of long-term debt.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 10:05 pm

SRC

Realty Income Corporation (O) has announced plans to acquire Spirit Realty Capital (SRC) in an all-stock deal valued at $9.3 billion. The deal is expected to enhance Realty Income's portfolio and provide significant financial benefits.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 7:55 pm

INVZ

MBLY

Citron Research has expressed optimism about Innoviz Technologies (INVZ), predicting that Mobileye could potentially acquire the company at a significantly higher price. The company is currently trading at a small premium to cash, with a strong position in the LIDAR industry. Despite recent events in Israel, Innoviz's global operations have continued as planned.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 7:04 pm

AMZN

Amazon has made One Medical's healthcare benefits available to Prime members for a fee, following its acquisition of the subscription-based group in 2022. The subscription will cost Prime members $9 per month or $99 per year, a significant discount from the standard One Medical subscription fee of $199 per year. This move is part of Amazon's ongoing efforts to tap into the healthcare industry.

Portfolio Pulse from Anusuya Lahiri

November 08, 2023 | 6:50 pm

BLDE

DRRX

FTCI

GAN

The article lists the stocks that gained and lost the most in Wednesday's mid-day session. GAN Limited (NASDAQ:GAN) surged 83.9% after agreeing to be acquired by Sega Sammy Creation. Blade Air Mobility, Inc. (NASDAQ:BLDE) surged 27.3% after reporting strong Q3 FY23 revenue growth. On the other hand, DURECT Corporation (NASDAQ:DRRX) shares fell 75.5% after its Phase 2B AHFIRM trial did not achieve statistical significance. FTC Solar, Inc. (NASDAQ:FTCI) fell 62.8% after reporting Q3 earnings and announcing the departure of its CEO and CFO.

Portfolio Pulse from Lisa Levin

November 08, 2023 | 6:41 pm

BMBL

CRM

MTCH

Bumble Inc's CEO Whitney Wolfe Herd is stepping down and will be succeeded by Slack's CEO Lidiane Jones on Jan. 2, 2024. Jones, who has worked at Microsoft, Sonos, and Salesforce, is taking over at a time when the dating app market is losing steam. However, she plans to leverage AI technology to enhance connections and community-building within the Bumble platform. Bumble shares have been trading higher since the announcement.

Portfolio Pulse from Surbhi Jain

November 08, 2023 | 6:30 pm

SHOO

Steven Madden Ltd (NASDAQ:SHOO) reported a slight sales decline of 0.7% YoY to $552.73 million for Q3 FY23, beating consensus estimates. The company's wholesale business revenue decreased 0.3% YoY, and Direct-to-consumer revenue fell 1.8%. However, gross profit margin improved to 42.1% from 41.2% YoY. The company also completed the acquisition of apparel designer Almost Famous for $52M. Despite softer industry trends, the company remains confident in its long-term growth, but has revised its FY23 outlook, expecting a revenue decline of 7%.

Portfolio Pulse from Akanksha Bakshi

November 08, 2023 | 6:25 pm

FLYW

Flywire Corporation reported Q3 earnings of 8 cents per share, compared to a loss of 4 cents per share a year ago. The company's revenue was $123.3 million, slightly above estimates. Flywire also announced the acquisition of StudyLink, a provider of international student admissions software. However, following the earnings announcement, several analysts including Raymond James, Goldman Sachs, Wells Fargo, and Truist Securities lowered their price targets on Flywire. The company's shares fell 26.9% to trade at $20.23.

Portfolio Pulse from Lisa Levin

November 08, 2023 | 6:23 pm