Streetbeat News

Acquisitions Mergers

AZZ

SHCR

VOXX

Several US stocks traded higher on Wednesday, with notable gains recorded by Sharecare, Scilex Holding Company, VOXX International Corp, Golden Heaven Group Holdings, American Battery Technology Company, Exscientia, Empire State Realty OP, AZZ Inc., Dada Nexus Limited, Novavax, Harmony Gold Mining Company, HUTCHMED, Sify Technologies Limited, Beneficient, and Groupon. Sharecare's surge followed a preliminary non-binding proposal for acquisition by Claritas Capital. VOXX and AZZ Inc. reported stronger-than-expected sales and results for their second quarter, respectively.

Portfolio Pulse from Lisa Levin

October 11, 2023 | 3:42 pm

BCO

NCR

NCR Corporation is reportedly in discussions to merge its ATM business with Brink's Co, according to Reuters. No further details about the potential deal have been disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 3:33 pm

VFS

Vietnam-based EV maker VinFast Auto Ltd. (NASDAQ:VFS) plans to acquire a 99.8% stake in VinES Energy Solutions for approximately $462 million. The acquisition is expected to save 5%-7% on battery costs for the combined business and boost VinFast's competitiveness in the global electric vehicle market. VinFast's shares are trading higher by 4.14% to $7.80.

Portfolio Pulse from Nabaparna Bhattacharya

October 11, 2023 | 3:25 pm

GIB

CGI Inc (NYSE:GIB) has acquired Miami-based IT and business consulting firm Momentum Consulting Corp. The acquisition is expected to strengthen CGI's presence in Miami's high growth market. The financial details of the deal were not disclosed. As of June 2023, CGI had C$1.5 billion in cash, excluding funds held for clients. CGI shares are trading higher by 1.99% at $101.07.

Portfolio Pulse from Lekha Gupta

October 11, 2023 | 3:11 pm

AAPL

SPY

XOM

The stock market moved up due to market mechanics, with bulls confident that this will continue to drive the market higher. The Producer Price Index came in hotter than expected, but bulls are still hopeful that market mechanics will override this data. Exxon Mobil Corp is buying Pioneer Natural Resources Co for $58B, generating positive sentiment. Money flows are positive in Apple, Amazon, Alphabet, Meta Platforms, Microsoft, NVIDIA, and Tesla, but mixed in SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1.

Portfolio Pulse from The Arora Report

October 11, 2023 | 2:46 pm

PLL

Piedmont Lithium Inc. (NASDAQ:PLL) has announced a strategic investment in a lithium project in Newfoundland, Canada. The company will pay C$2 million for a 19.9% equity interest in Vinland Lithium Inc., a new entity established with Sokoman Minerals Corp. and Benton Resources Inc. This move aligns with Piedmont's objective of investing in large-scale projects in favorable locations.

Portfolio Pulse from Akanksha Bakshi

October 11, 2023 | 2:09 pm

PXD

XOM

Exxon Mobil Corporation has agreed to acquire Pioneer Natural Resources Company in an all-stock transaction valued at $59.5 billion. The deal represents an 18% premium to Pioneer's closing price on October 5. The acquisition is expected to close in the first half of 2024. Exxon's shares are trading lower after the announcement, while Pioneer's shares are trading higher.

Portfolio Pulse from Nabaparna Bhattacharya

October 11, 2023 | 1:56 pm

Fiserv, Inc. (NYSE:FI) has announced the acquisition of Skytef, a primary distributor of Software Express's SiTef® in Brazil. The acquisition strengthens Fiserv's distribution network in the country, adding relationships with more than 600 ISV partners and approximately 27,000 merchants. The move also expands Fiserv's capacity to support large clients with complex after-sales demands and broadens its network of strategic partners in Brazil to more than 1,000.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 1:48 pm

COSM

Cosmos Health plans to acquire Cloudscreen, a deal that includes the software, its registered trademark, and associated know-how. The total investment is expected to exceed $5M through 2029, with an initial purchase price of approximately $1M.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 1:40 pm

BIDU

BIRK

COST

GOOG

GSK

HUM

LVMHF

MGM

MNKTQ

NVO

QABSY

TPST

WBA

Several companies are in the news for various reasons. Alphabet and Discord are facing ethical concerns over Google's AI chatbot, Bard. MGM Resorts snubbed hackers' ransom demands after a cyberattack. Costco is accused of sharing confidential health data with Meta Platforms. Humana has appointed a new CEO. Novo Nordisk has stopped a kidney trial due to early signs of efficacy. Walgreens has appointed a new CEO. GSK has settled a lawsuit. LVMH reported a 9% organic revenue growth in Q3. Qantas Airways is overhauling its board. Tempest Therapeutics' stock soared after positive results from a clinical trial. Tech giants Baidu, Huawei, and Alibaba are setting standards for autonomous driving in China. Blackstone is in talks to acquire a stake in Disney's Indian subsidiary. Mallinckrodt's bankruptcy plan was approved. Birkenstock has priced its IPO.

Portfolio Pulse from Vandana Singh

October 11, 2023 | 1:36 pm