Streetbeat News

Acquisitions Mergers

PYPL

UPS

UPS (NYSE: UPS) has announced its plans to acquire Happy Returns, a U.S.-based software and reverse logistics company, from PayPal (NASDAQ: PYPL). Happy Returns provides a frictionless, no-box, no-label returns service for merchants and consumers.

Portfolio Pulse from Charles Gross

October 25, 2023 | 8:30 pm

CHH

Choice Hotels has urged Wyndham Hotels & Resorts to return to the negotiating table, proposing a $90.00 per share offer. This represents a 14.9x multiple of Wyndham's consensus 2023 EBITDA estimates, a forward multiple that Wyndham has never achieved without COVID disruptions.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 8:03 pm

LII

Lennox (NYSE:LII) has completed the acquisition of AES, a company providing installations services, adapter curbs, and reclaim services in the light commercial market. AES will become part of the Lennox Commercial Business Segment. The terms of the acquisition were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 8:01 pm

ABNB

ATVI

GOOG

GOOGL

MSFT

Microsoft's Q1 results showed a 13% YoY revenue growth to $50.12 billion, with net income rising 27% YoY to $22.29 billion. Azure cloud revenue grew 28%, ending a two-year deceleration streak. The company also reported 1 million paid Copilot users and an increase in Teams users. Microsoft recently completed its $68.7 billion acquisition of Activision Blizzard, which is expected to boost Xbox sales and contribute to AI development.

Portfolio Pulse from Upwallstreet

October 25, 2023 | 6:14 pm

NIO

NIO Inc's shares are trading lower by 4.9% following a surge in Chinese stocks after Beijing announced economic stimulus measures. Nio has acquired defunct automaker Leopard to gain independent vehicle production certification, which may enable it to acquire two JAC factories and secure its EV production status. Nio is also exploring the purchase of plant assets from its manufacturing partner, JAC, and is in discussions with new investors to manage financial implications.

Portfolio Pulse from Henry Khederian

October 25, 2023 | 5:12 pm

ATVI

MSFT

Microsoft Corporation (NASDAQ:MSFT) has reported a 13% quarter-on-quarter revenue growth, largely attributed to the success of Xbox Game Pass, which saw a significant increase in subscribers following the launch of 'Starfield'. Despite a 7% decline in hardware sales, Xbox is experiencing a substantial upswing. Microsoft's acquisition of Activision Blizzard Inc (NASDAQ:ATVI) is expected to further enhance the Game Pass offerings.

Portfolio Pulse from Franca Quarneti

October 25, 2023 | 4:46 pm

ACN

STGW

Accenture (NYSE:ACN) has agreed to acquire healthcare marketing agency ConcentricLife, a subsidiary of Stagwell (NASDAQ:STGW). The acquisition is aimed at enhancing Accenture's healthcare marketing and communications capabilities for the life sciences industry. ConcentricLife's 270+ employees will join Accenture Song in various markets. The global healthcare market is expected to grow to $665 billion by 2028.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 4:40 pm

OSTK

Overstock.com Inc (NASDAQ:OSTK) has announced a major rebrand following its acquisition of the IP and digital assets from Bed Bath & Beyond. The company will change its corporate name to Beyond, Inc., change its ticker from OSTK to BYON, and transfer its common share listing from the Nasdaq to the NYSE. The changes are expected to be completed by Nov. 6, 2023. The company also recently added Marcus Lemonis, CEO of Camping World, to its Board of Directors.

Portfolio Pulse from Chris Katje

October 25, 2023 | 4:21 pm

ADBE

ARM

NVDA

The U.K.'s Competition and Markets Authority has extended its investigation into Adobe Inc's $20 billion acquisition of Figma Inc, pushing the deadline to February 25. The deal is under scrutiny from global regulators, the EU, and the U.S. Department of Justice over concerns of reduced competition in the design software market. Adobe's shares traded lower by 2.84% following the news.

Portfolio Pulse from Anusuya Lahiri

October 25, 2023 | 4:06 pm

ASPA

BKYI

LRN

SFR

SONN

TMO

VICR

Thermo Fisher Scientific Inc. (TMO) reported mixed Q3 results and lowered its FY23 guidance. Abri SPAC I, Inc. (ASPA) shares rose after stockholders approved a merger with DLQ, Inc. BIO-key International, Inc. (BKYI) and Stride, Inc. (LRN) shares increased following Q3 results. Sonnet BioTherapeutics Holdings, Inc. (SONN) shares dropped after pricing a public offering. Appreciate Holdings, Inc. (SFR) shares fell after receiving a Nasdaq delisting notice. Vicor Corporation (VICR) shares fell after Q3 results.

Portfolio Pulse from Lisa Levin

October 25, 2023 | 4:04 pm