Streetbeat News

Acquisitions Mergers

MSFT

Microsoft has announced that it expects its FY24 operating margins to remain flat year-over-year, inclusive of the net impact from its deal with Activision.

Portfolio Pulse from Charles Gross

October 24, 2023 | 10:17 pm

GDNR

Gardiner Healthcare Acquisitions (GDNR) has announced its intention to extend the period of time it has to consummate its initial business combination to November 27, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 10:02 pm

IR

Shares of Ingersoll Rand Inc (NYSE:IR) recovered slightly after a recent downturn. Analyst Nathan Jones from Stifel upgraded the rating for Ingersoll Rand from Hold to Buy, maintaining a price target of $73. Jones believes the company's balance sheet optionality provides significant upside and expects much of the capital to be used for mergers and acquisitions.

Portfolio Pulse from Priya Nigam

October 24, 2023 | 9:46 pm

INVO

INVO BioScience Inc announced it will acquire NAYA Biosciences in an all-stock transaction. NAYA Biosciences' shareholders will receive 7.3333 shares of INVO for each share of NAYA Biosciences, for a total of approximately 18,150,000 shares of INVO. The combined company will operate under the name 'NAYA Biosciences'. INVO shares traded lower on Tuesday, with the stock experiencing above-average trading volume and several trading halts.

Portfolio Pulse from Ryan Gustafson

October 24, 2023 | 8:44 pm

MSFT

SONY

THQQF

TTWO

Shawn Layden, former CEO of Sony's Sony Computer Entertainment America, has expressed concerns about the video game industry, highlighting issues such as consolidation, game preservation, and the financial challenges of blockbuster development. He criticized the industry's reliance on expensive blockbusters and advocated for a strategy of 'de-risking' by focusing on sequels and established franchises. Layden also voiced concerns about the recent wave of studio acquisitions by companies like Sony, Microsoft, Embracer Group, and Take-Two Interactive Software, arguing that consolidation could diminish creative diversity.

Portfolio Pulse from Franca Quarneti

October 24, 2023 | 8:03 pm

FRLA

OCLN

Fortune Rise Acquisition Corporation (NASDAQ:FRLA) and OriginClear Inc. (OTC Other: OCLN) have announced a definitive business combination agreement with Water On Demand Inc. (WOD), a subsidiary of OriginClear. The combined company is valued at approximately $72 million. The proceeds will be used to develop the Water On Demand water-as-a-service network, grow the Modular Water and Progressive Water business units, and carry out an aggressive acquisition program. The transaction is expected to close in Q2 2024.

Portfolio Pulse from Happy Mohamed

October 24, 2023 | 8:02 pm

INTC

TSM

Intel Corp. plans to spin off its Programmable Solutions Group (PSG) as an independent entity, with the aim of conducting an initial public offering (IPO) within the next two to three years. Intel's PSG, which designs and manufactures field programmable gate arrays (FPGAs), has been a strong performer, delivering three consecutive record-breaking quarters. The move is part of Intel's strategy to focus on its manufacturing foundry operations and compete with Taiwan Semiconductor Manufacturing Co. Ltd.

Portfolio Pulse from Aditi Ganguly

October 24, 2023 | 7:32 pm

HOLI

A buyer consortium has expressed its expectation that the board of Hollysys Automation Technologies will proceed with a special meeting. The consortium also commented that the $25/share proposal from the company's Co-COOs appears to be an even emptier gesture than the 2021 management takeover proposal.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 7:23 pm

HOLI

A buyer consortium led by Recco Control Technology and Dazheng Group has expressed continued interest in acquiring Hollysys Automation Technologies Ltd. (HOLI), despite the company's recent update on its sale process.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 7:19 pm

IBM

BMO Capital Markets analyst Keith Bachman reiterated a Market Perform rating on International Business Machines Corporation (IBM) with a price target of $152. Bachman notes steady software demand and potential for IBM to meet or exceed estimates in 2HFY23, helped by M&A. The early closure of the Apptio deal could provide a slight upside. However, Bachman remains skeptical about IBM's consulting estimates in 2HFY23 and expects margin challenges to persist.

Portfolio Pulse from Nabaparna Bhattacharya

October 24, 2023 | 6:02 pm