Streetbeat News

Acquisitions Mergers

BWMN

Bowman Consulting Group Ltd (NASDAQ:BWMN) has acquired Dennis Corporation, a civil engineering, surveying and construction management firm. The acquisition is expected to be immediately accretive and will operate at an annualized net service billing run rate of approximately $4.5 million. Bowman held $9.7 million in cash and equivalents as of June 30, 2023.

Portfolio Pulse from Shivani Kumaresan

October 13, 2023 | 2:56 pm

ATVI

MSFT

Activision Blizzard CEO Bobby Kotick has confirmed he will remain with the company until January 1st, 2024, to facilitate the transition following the company's acquisition by Microsoft. The acquisition process was not smooth, taking almost two years to complete.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 2:15 pm

SASI

Sigma Additive Solutions (SASI) has announced the signing of a definitive asset purchase agreement for the acquisition of NextTrip Holdings. This has led to an increase in the trading of SASI shares.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 2:15 pm

ATVI

MSFT

SPY

UBSFY

The U.S. Federal Trade Commission (FTC) is focused on an appeal aimed at stopping Microsoft's now-closed deal for Activision. The FTC will also 'assess' an agreement with Ubisoft as part of its proceedings.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 2:09 pm

BLK

DRPRF

GOOG

JPM

MSFT

NFLX

SAVA

TSM

UNH

WFC

The UK's Competition and Markets Authority has approved Microsoft's $69B acquisition of Activision Blizzard. Google is testing generative AI functionalities for its search tool. Cassava Sciences faces controversy over scientific misconduct allegations. Ford is struggling with UAW negotiations. EHang shares are trading higher after obtaining a certificate for its EH216-S UAV system. OpenAI is valued at $90B and is close to selling shares. TSMC is seeking permanent US approval for chip supplies. Netflix plans to launch 'Netflix House' experiences. The Kroger-Albertsons deal faces potential legal challenges. Boeing and Spirit AeroSystems are inspecting 737 Max aircraft defects. Wells Fargo, JPMorgan, Citigroup, BlackRock, and UnitedHealth reported Q3 earnings. Porsche records a 10% surge in deliveries for the first three quarters.

Portfolio Pulse from Vandana Singh

October 13, 2023 | 1:48 pm

AMGN

BMY

Amgen has presented preliminary results from its first study of an experimental pill that selectively blocks the PRMT5 enzyme in cancer cells, showing five partial responses from 31 evaluable patients. This follows the announcement that a rival PRMT5 inhibitor developed by Mirati Therapeutics factored into Bristol Myers Squibb's decision to acquire the company.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 1:47 pm

ATVI

MSFT

NTDOY

SONY

UBSFY

Microsoft Corp. has completed its acquisition of Activision Blizzard Inc. for $69 billion, marking the largest deal in Microsoft's history. The deal was approved by U.S. and U.K. regulators after Microsoft agreed to transfer Activision's game streaming rights to Ubisoft Entertainment and ensure that cloud gaming providers can use non-Windows operating systems for Activision content. Activision Blizzard's popular game franchises will now be part of Microsoft's enterprise.

Portfolio Pulse from Piero Cingari

October 13, 2023 | 1:40 pm

INDV

Addiction treatment company Indivior PLC (NASDAQ:INDV) has signed an exclusive licensing agreement with Alar Pharmaceuticals. Indivior will pay $10 million to secure exclusive global rights to develop, produce and commercialize Alar's portfolio of long-acting injectable formulations, including its lead candidate, ALA-1000. This is in addition to an initial $5 million option payment made by Indivior to Alar in Q1. Alar is entitled to potential milestone payments if various developmental, regulatory, and commercial goals are achieved.

Portfolio Pulse from Nina Zdinjak

October 13, 2023 | 1:35 pm

KMT

PAYX

UPS

The most accurate Wall Street analysts recommend holding three high-yielding industrial stocks: Paychex, Inc. (NASDAQ:PAYX), Kennametal Inc. (NYSE:KMT), and United Parcel Service, Inc. (NYSE:UPS). These companies have dividend yields of 3.002%, 3.31%, and 4.17% respectively. Recent news includes better-than-expected earnings for Paychex, an upcoming earnings call for Kennametal, and a new acquisition for UPS.

Portfolio Pulse from Lisa Levin

October 13, 2023 | 1:30 pm

BYDDY

NIO

XPEV

Nio Inc. (NYSE:NIO) has entered the insurance business by acquiring Anhui-based Huiding Insurance Broker Company Limited, now renamed as Nio Insurance Broker Company Limited. This move aligns Nio with other Chinese EV manufacturers like Li Auto Inc (NASDAQ:LI), BYD Company Limited (OTC:BYDDY), and Xpeng Inc (NYSE:XPEV) who have their own insurance subsidiaries. Nio's sales have been increasing, delivering 50% more vehicles in September in China than the previous year.

Portfolio Pulse from Daniel Harrison

October 13, 2023 | 1:23 pm