Streetbeat News

Acquisitions Mergers

PLTN

Big Tree Cloud and SPAC Plutonian Acquisition have announced a merger agreement worth $500 million. The merged entity is set to trade on Nasdaq.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 6:38 am

PXD

XOM

Exxon Mobil Corp. is reportedly in advanced talks to acquire Pioneer Natural Resources Co. for more than $250 per share, valuing Pioneer at no less than $58 billion. The all-stock deal could be announced as early as Wednesday. However, the final agreement is yet to be finalized and the terms may change or the talks could end without a deal. The potential merger would strengthen Exxon’s position as the largest oil producer in the Permian Basin of Texas and New Mexico.

Portfolio Pulse from Benzinga Neuro

October 11, 2023 | 12:37 am

AAPL

CCHWF

CRLBF

TGT

The Cannabist Company Holdings Inc (OTC:CCHWF) recently underwent a rebranding from Columbia Care Inc. The rebranding was aimed at aligning the company with the evolving needs and expectations of the consumer base and their own team. The timing of the rebrand coincided with the potential acquisition with Cresco Labs Inc. (OTCQX: CRLBF). The company is also leveraging technology to overcome industry challenges and is focusing on enhancing consumer experience in its retail outlets. The company's shares closed Tuesday's market session at $1.23 per share, trading up 8.18%.

Portfolio Pulse from Joana Scopel

October 10, 2023 | 9:22 pm

ATVI

MSFT

Activision Blizzard Inc (NASDAQ:ATVI) has announced its plans to start offering its games on Xbox Game Pass in 2024, following the impending acquisition by Microsoft Corp (NASDAQ:MSFT). However, anticipated titles such as Call of Duty: Modern Warfare III and Diablo IV will not be available on Game Pass this year. An existing agreement prevents Call of Duty from appearing on Game Pass until at least January 2025, but this does not necessarily prevent Diablo IV from potentially arriving on the service next year.

Portfolio Pulse from Franca Quarneti

October 10, 2023 | 9:10 pm

CI

Evernorth Health Services, a division of The Cigna Group (NYSE:CI), is set to enhance MDLIVE's virtual care by acquiring the technology and clinical capabilities of Bright.md. The acquisition will add asynchronous care, triage, and navigation capabilities to MDLIVE's virtual care platform, aiming to improve patient access to high-quality care and reduce the total cost of care. The new features will be available for patients and clinicians beginning in 2024. Additionally, MDLIVE is expanding its virtual primary care service to include health coaching for patients with chronic conditions.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 8:38 pm

ALG

Alamo Group Inc. (NYSE:ALG) has acquired Royal Truck & Equipment, Inc., a manufacturer of truck mounted highway attenuator trucks and other specialty trucks and equipment. Royal Truck's annual revenue was approximately $40 million in 2022 and the company had trailing twelve-month revenue of approximately $44 million as of the end of August, 2023. The acquisition aligns with Alamo's long-term strategy of acquiring business operations in adjacent markets.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 8:31 pm

GLLI

Globalink Investment Inc. (NASDAQ:GLLI) has extended the deadline to complete its initial business combination from October 9, 2023 to November 9, 2023. The company deposited $130,000 into its trust account with Continental Stock Transfer and Trust Company to facilitate this extension.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 8:25 pm

EFHT

EF Hutton Acquisition Corporation I has entered into a definitive securities purchase agreement with an institutional investor for the issuance of a senior secured convertible note with a principal amount of $15,819,209.

Portfolio Pulse from Bill Haddad

October 10, 2023 | 8:16 pm

GNTX

VOXX

Avalon Park Group has entered into a stock purchase agreement with Gentex Corporation to sell 50% of its total ownership stake in VOXX International Corporation.

Portfolio Pulse from Bill Haddad

October 10, 2023 | 8:09 pm

NOG

RBC Capital Markets analyst Scott Hanold has reiterated an Outperform rating on Northern Oil And Gas, Inc. (NYSE:NOG) with a price target of $46. Hanold anticipates strong production and capital spending avenues for NOG, with M&A being a core strategic growth option. The analyst's 3Q23 EPS/CFPS estimates for NOG have increased, reflecting final commodity prices and better oil production. Hanold also expects Q3 capital spending at $195 million, above the consensus estimate. NOG shares are trading higher by 1.27% to $41.01.

Portfolio Pulse from Nabaparna Bhattacharya

October 10, 2023 | 7:35 pm