Streetbeat News

Acquisitions Mergers

LQR

LQR House Inc. (NASDAQ:LQR), a marketing agency specializing in the spirits and beverage industry, has acquired www.cwspirits.com, a well-established wine and spirits e-commerce platform in the USA. This acquisition will allow LQR House to expand its portfolio and strategically position a wider range of brands to cater to the diverse preferences of consumers. The company plans to use its proprietary SEO methods to ensure that CWSpirits.com ranks in premium positions on Google for top-selling brands.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 12:40 pm

USPH

U.S. Physical Therapy, Inc. (USPH) has announced the acquisition of an industrial injury prevention services and ergonomics software business by its subsidiary, Briotix Health Limited Partnership. The total purchase price was approximately $4.0 million. The combined businesses currently generate about $2.6 million in annual revenues. The acquisition is expected to increase USPH's IIP services business and add a new solution to Briotix's offerings.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 12:37 pm

PYPL

UPS

PayPal Holdings, Inc. (NASDAQ:PYPL) is set to release its Q3 financial results on Nov. 1, 2023. Analysts predict an EPS of $1.16, up from $1.08 last year, and revenue of $6.96 billion, slightly higher than last year's $6.85 billion. Recently, UPS (NYSE:UPS) agreed to acquire Happy Returns from PayPal. Ahead of the earnings call, several analysts have revised their price targets for PayPal.

Portfolio Pulse from Lisa Levin

November 01, 2023 | 12:11 pm

LGND

SNY

Ligand Pharmaceuticals has acquired Tolerance Therapeutics for $20M in cash. Tolerance Therapeutics is a holding company that is owed a royalty of less than 1% on worldwide net sales of Tzield (Teplizumab), which is marketed by Sanofi. The transaction will be immediately accretive to Ligand's royalty revenue.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 12:06 pm

SGEN

Seagen's proposed transaction with Pfizer is expected to close in late-2023 or early-2024, subject to closing conditions. The transaction is currently under review by the FTC and has recently received approval from the European Commission.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 12:03 pm

RILY

SNCR

TSXV:LMN

Synchronoss Technologies (SNCR) has announced the sale of its Messaging and NetworkX businesses to Lumine Group (TSXV:LMN) for up to $41.8 million. This move is part of an ongoing strategic review process aimed at maximizing shareholder value. The sale will allow Synchronoss to focus on its cloud business and improve its capital structure. The company expects gross margins of over 70% and adjusted EBITDA margins of over 25% by the end of fiscal year 2024. B. Riley Financial (RILY), Synchronoss' largest shareholder, supports the transaction.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 12:02 pm

APRN

EXTO

FTLF

TWNK

The article lists four overbought stocks in the consumer staples sector that may crash this quarter. These include FitLife Brands, Almacenes Éxito, Blue Apron Holdings, and Hostess Brands. FitLife Brands recently acquired MusclePharm's assets, Almacenes Éxito's stock jumped over 25% in the past month, Blue Apron is set to be acquired by Wonder Group, and Hostess Brands is being acquired by J. M. Smucker.

Portfolio Pulse from Lisa Levin

November 01, 2023 | 11:28 am

BIP

CYXTQ

DLR

Brookfield is set to acquire substantially all of Cyxtera's assets for $775M. The deal includes a comprehensive agreement with Digital Realty Trust and Digital Core REIT for Brookfield to acquire the real estate supporting several of Cyxtera's U.S. data centers.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 11:17 am

GRMN

Garmin has increased its FY2023 adjusted EPS guidance from $5.15 to $5.25, compared to the estimated $5.18. The company also raised its FY2023 sales guidance from $5.05 billion to $5.15 billion, against the estimated $5.06 billion. This adjustment is based on the company's performance in the first three quarters of 2023 and the acquisition of JL Audio.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 11:09 am

CVX

XOM

Senate Majority Leader Schumer has urged the Federal Trade Commission (FTC) to investigate whether proposed oil and gas acquisitions by Exxon Mobil Corp. and Chevron Corp. could violate antitrust laws.

Portfolio Pulse from Charles Gross

November 01, 2023 | 10:51 am