Streetbeat News

Acquisitions Mergers

ZYXI

Zynex, Inc. (NASDAQ: ZYXI) has announced that its Board of Directors is reviewing potential strategic alternatives to maximize shareholder value. These alternatives may include take private offers, a sale, merger, divestiture, recapitalization, or other strategic transactions. The company has retained Cantor Fitzgerald & Co. as its financial advisor and Goodwin Procter LLP as its legal advisor for this process. No definitive decisions have been made yet.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 11:59 am

CHS

EJH

LRN

The article identifies three overbought stocks in the consumer discretionary sector that could potentially sink portfolios in Q4. These include E-Home Household Service Holdings Limited (EJH), Chico's FAS, Inc. (CHS), and Stride, Inc. (LRN). EJH's shares have jumped 80% over the past month, CHS is set to be acquired by Sycamore Partners for $1 billion, and LRN reported better-than-expected Q1 results and issued FY24 revenue guidance above estimates.

Portfolio Pulse from Lisa Levin

October 31, 2023 | 11:45 am

AAC

X-Energy Reactor Company and Ares Acquisition Corporation (AAC) have mutually agreed to terminate their business combination agreement. Consequently, the extraordinary general meeting of AAC shareholders scheduled for October 31, 2023, to approve the proposed transaction will be adjourned indefinitely. AAC anticipates that the last day of trading in the Public Shares will be November 6, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 11:43 am

ACN

Accenture has signed an agreement to acquire 6point6, a UK-based technology consultancy specializing in cloud, data, and cybersecurity. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 11:35 am

AME

AMETEK, Inc. has acquired Amplifier Research Corp., a company based in Souderton, Pennsylvania with annual sales of approximately $60 million. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 11:02 am

AME

AMETEK has announced an agreement to acquire Paragon Medical in an all-cash transaction valued at approximately $1.9 billion.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 11:00 am

CGNX

Cognex Corporation (CGNX) expects Q4 2023 revenue to be between $175 million and $195 million, including $5 million to $7 million from Moritex Corporation. This is lower than the $203.27 million estimate. The company also expects gross margin to be approximately 70% and operating expenses to increase by low single digits. Cognex also anticipates one-time charges of approximately $15 million related to the Moritex acquisition.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 10:10 am

VOD

Zegona has announced its acquisition of Vodafone Spain for €5.0 billion. The transaction will be funded through a combination of new debt, Vodafone Financing, and a new equity raise. Post equity raise, the new debt facility is anticipated to deliver a net debt position at completion of €3.7 billion. Vodafone Group plc will provide a brand licence agreement which permits Zegona to use the Vodafone brand in Spain for up to 10 years post completion.

Portfolio Pulse from Charles Gross

October 31, 2023 | 8:45 am

VLD

Velo3D, Inc. (VLD) has sold a Sapphire printer to Italian contract manufacturer Ci-Esse Srl. The printer will be used to produce parts for Ci-Esse's customers in aerospace, defense, motorsports, and other industries. This makes Ci-Esse the first member of Velo3D's contract manufacturer network in Italy.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 8:09 am

ARKF

BEAM

DSY

MELI

SOFI

TXG

Ark Invest, led by Cathie Wood, has purchased 473,225 shares of SoFi Technologies, valued at $3.3 million, amid a surge in SoFi's stock price. This acquisition represents 0.4507% of their ARKF ETF. SoFi has reported strong Q3 results, with a 27% Y/Y increase in adjusted revenue to $530.7 million. Ark Invest also made other key trades, including selling shares of Discovery Ltd and MercadoLibre Inc, and purchasing shares of Beam Therapeutics Inc and 10X Genomics Inc.

Portfolio Pulse from Benzinga Neuro

October 31, 2023 | 3:14 am