Streetbeat News

Acquisitions Mergers

WES

Western Midstream CEO Michael Ure has announced that the company expects its 2023 Adjusted EBITDA to be towards the high end of its previously announced guidance range of $1.950B-$2.050B. This is due to increased throughput for natural gas, crude oil, and NGLs, and produced water, driven by new production and high facility operability in the Delaware Basin. The company also recently acquired Meritage in the Powder River Basin in Wyoming for $885 million, making it the largest gathering and processing operator in the area. The acquisition is expected to diversify the customer base and add long-term contracts to the portfolio.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 8:38 pm

CMCSA

DIS

Disney has agreed to pay NBC Universal $8.61 billion under the terms of a new arrangement.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 8:33 pm

CMCSA

DIS

The Walt Disney Company (DIS) has announced plans to purchase the remaining stake in Hulu from Comcast (CMCSA). The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 8:32 pm

NARI

Inari Medical has acquired LimFlow for $250 million in cash. The acquisition is expected to strengthen Inari's product portfolio and market position.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 8:06 pm

SIRI

Sirius XM Holdings Inc (SIRI) saw exceptional price volatility in July due to a short squeeze, but its business model provides significant consistency and predictability, according to Barrington Research analyst James C. Goss. The company reported flat Q3 FY23 revenue growth to $2.27 billion, missing the consensus of $2.29 billion. However, adjusted EPS of $0.09 beat the consensus of $0.08. The company has suspended repurchase activity as it evaluates Liberty’s proposal to merge SiriusXM with Liberty Sirius. The company plans to preview its updated platform on November 8.

Portfolio Pulse from Anusuya Lahiri

November 01, 2023 | 7:00 pm

CLLS

IRIX

PATI

PAYC

TGTX

The Federal Reserve has decided to maintain interest rates at 5.25% to 5.5%. This decision led to a rise in the Dow, NASDAQ, and S&P 500. Stocks of Cellectis, Patriot Transportation Holding, and TG Therapeutics rose significantly due to strategic collaborations, acquisitions, and positive Q3 results respectively. However, WeWork, IRIDEX Corporation, and Paycom Software saw a drop in their shares due to bankruptcy reports, withdrawal of annual guidance, and poor Q3 sales results respectively.

Portfolio Pulse from Lisa Levin

November 01, 2023 | 6:33 pm

CWBR

CohBar Inc's (NASDAQ:CWBR) stock price has fallen by 47% after the company received guidance from Nasdaq that its merger agreement with Morphogenesis, Inc would not be approved. Following this, CohBar decided to liquidate and dissolve itself. The company had around $9.1 million in cash, cash equivalents and investments, and approximately $1.5 million in accrued liabilities as of September 30, 2023.

Portfolio Pulse from Henry Khederian

November 01, 2023 | 6:23 pm

CLLS

PATI

PAYC

The article lists the stocks that gained and lost the most in Wednesday's mid-day session. Notable gainers include Cellectis S.A. (NASDAQ:CLLS) due to strategic collaboration and investment agreements with AstraZeneca, and Patriot Transportation Holding, Inc. (NASDAQ:PATI) due to an acquisition agreement with United Petroleum Transports. Notable losers include WeWork Inc. (NYSE:WE) due to reports of nearing bankruptcy, and Paycom Software, Inc. (NYSE:PAYC) due to worse-than-expected third-quarter sales results and lowered FY23 revenue guidance.

Portfolio Pulse from Lisa Levin

November 01, 2023 | 5:59 pm

FUN

SIX

Theme-park operators Six Flags and Cedar Fair are reportedly close to a merger deal, which could be announced this week, according to sources cited by the Wall Street Journal.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 5:59 pm

FUN

SIX

Cedar Fair is reportedly exploring a potential merger with Six Flags Entertainment Corp, according to sources cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 5:57 pm