Streetbeat News

Acquisitions Mergers

MSFT

Blizzard Entertainment has confirmed that Diablo 4 will be enhanced for the PS5 Pro, marking the first Microsoft-owned game to support Sony's console upgrade. This enhancement is part of Microsoft's broader strategy following its acquisition of Activision Blizzard.

Portfolio Pulse from Franca Quarneti

October 04, 2024 | 4:43 pm

FANG

XOM

Diamondback Energy's stock is climbing following an upgrade by BMO Capital Markets, citing synergies from the Endeavor acquisition and a strong position in the Midland Basin. Analyst Phillip Jungwirth raised the price target for Diamondback Energy from $205 to $215.

Portfolio Pulse from Priya Nigam

October 04, 2024 | 4:21 pm

CDE

Coeur Mining (CDE) shares fell by 7.06% after announcing a $1.7 billion acquisition of SilverCrest Metals. The deal, pending court approval, will make Coeur a leading global silver producer. The acquisition is expected to boost free cash flow and accelerate debt reduction.

Portfolio Pulse from Henry Khederian

October 04, 2024 | 4:13 pm

JBLU

JetBlue Airways Corporation (NASDAQ:JBLU) stock is trading higher due to reports of Spirit Airlines potentially filing for bankruptcy. This situation could allow JetBlue to purchase Spirit's assets at a discount and attract budget-conscious consumers, potentially increasing JetBlue's revenue per flight.

Portfolio Pulse from Dylan Berman

October 04, 2024 | 3:44 pm

SNY

Sanofi has sold the global rights to its rare autoimmune drug Enjaymo to Recordati for $825 million upfront, with potential milestone payments of $250 million. Enjaymo, approved by the FDA in 2022, is expected to see significant revenue growth. The deal is set to close by the end of 2024.

Portfolio Pulse from Vandana Singh

October 04, 2024 | 2:42 pm

CBSTF

VRNOF

Verano Holdings Corp. is set to release its Q3 2024 financial results following a significant acquisition of assets from The Cannabist Company Holdings Inc. The acquisition, valued at $105 million, aims to expand Verano's presence in Virginia and Arizona. Verano has also partnered with Mike Tyson's TYSON 2.0 to introduce products in Florida and Illinois. The company's shares were trading lower at the time of reporting.

Portfolio Pulse from Jelena Martinovic

October 04, 2024 | 2:09 pm

CDE

Coeur Mining's shares are trading lower following the announcement of its agreement to acquire SilverCrest Metals for approximately $1.7 billion, pending court approval.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 2:02 pm

IYG

JPM

XLF

JP Morgan Chase & Co. has acquired a 5.47% stake in The Star Entertainment Group, an Australian casino operator facing liquidity issues. This move comes as JP Morgan expands its business in Canada with new ETFs and plans to grow its asset management team.

Portfolio Pulse from Lekha Gupta

October 04, 2024 | 1:58 pm

EA

TCEHY

TTWO

Tencent and the Guillemot family are reportedly considering a buyout of Ubisoft. This potential acquisition could impact the gaming industry, including competitors like EA and Take-Two Interactive.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 1:49 pm

TPX

Tempur Sealy International, Inc. has filed a complaint seeking to enjoin the FTC's administrative challenge to its merger with Mattress Firm, arguing it violates constitutional protections. A federal court hearing is scheduled for November 12, 2024.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 1:31 pm