Streetbeat News

Acquisitions Mergers

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

EXPI

Calgary's top realtor Justin Havre and his team have left RE/MAX Canada to join eXp Realty. The team, known as the '4 Billion Dollar Team' due to their sales volume since 2016, sees this move as a strategic step towards shaping the future of Canadian real estate in the digital world.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 6:56 am

ITAQ

Industrial Tech Acquisitions II (ITAQ) and NEXT Renewable Fuels have mutually agreed to terminate their merger agreement. No specific reasons were given for the termination.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 6:28 am

FLJ

FLJ Group has announced the sale of its long-term apartment rental business. The company has entered into an equity transfer agreement to sell all of its equity interest in its wholly-owned subsidiary Haoju (Shanghai) Artificial Intelligence Technology Co., Ltd. to Wangxiancai Limited.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 10:03 pm

DAL

JBLU

LUV

SAVE

JetBlue Airways Corporation's stock fell to a 10-year low following a disappointing earnings report and pending litigation over its acquisition of Spirit Airlines. The U.S. Department of Justice is suing to prevent the merger, which would make JetBlue the fifth largest airline in the U.S. Other airlines, including Southwest Airlines and Delta Air Lines, also saw their stocks fall.

Portfolio Pulse from Aaron Bry

October 31, 2023 | 9:58 pm