Streetbeat News

Acquisitions Mergers

APRN

THRN

TWNK

The article identifies three overbought stocks in the consumer staples sector that may crash in Q4: Blue Apron Holdings, Inc. (APRN), Thorne HealthTech, Inc. (THRN), and Hostess Brands, Inc. (TWNK). All three companies have recently announced acquisition agreements and have high Relative Strength Index (RSI) values, indicating they are overbought.

Portfolio Pulse from Lisa Levin

October 02, 2023 | 12:53 pm

TT

Trane Technologies PLC (NYSE:TT) has signed an agreement to acquire Nuvolo, a provider of cloud-based connected workplace and enterprise asset management products. The deal is expected to expand Trane's software-as-a-service (SaaS) and digital capabilities. The transaction is subject to regulatory approval and is expected to close in Q4 2023. Nuvolo's CEO, Tom Stanford, will join Trane in a leadership role.

Portfolio Pulse from Shivani Kumaresan

October 02, 2023 | 12:52 pm

COIN

ICCM

VTRS

IceCure's ProSense Cryoablation has been validated as a safe and effective outpatient procedure for breast cancer with a 96.8% success rate, boosting ICCM shares by 119%. Coinbase (COIN) shares rose by 5.75% after the company secured a payment institution license from the Monetary Authority of Singapore. Viatris (VTRS) shares increased by 4% following the company's announcement of an offer to sell its OTC business and an agreement to sell its Women's Healthcare and API businesses in India.

Portfolio Pulse from ryanfaloona@benzinga.com

October 02, 2023 | 12:48 pm

MOBV

MOBVU

Mobiv Acquisition Corp (NASDAQ:MOBV, MOBVU) has provided an update on its planned merger with SRIVARU Holding Limited, a provider of premium electric motorcycles. Post-merger, Mobiv's common stock and warrants will convert into ordinary shares and warrants of SRIVARU, which are expected to trade on Nasdaq under the new ticker symbols 'SVMH' and 'SVMHW'. Shareholders who reverse their redemption by the deadline will be entitled to a pro-rata share of the additional 2,500,000 SRIVARU ordinary shares.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 12:38 pm

VTRS

Viatris has announced that it has received an offer for the divestiture of most of its OTC business. The company has also entered into definitive agreements to divest its Women's Healthcare business and API business in India. This has led to an increase in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 12:37 pm

SGBX

SGD

Safe & Green Holdings Corp. (NASDAQ:SGBX) and its real estate development subsidiary, Safe and Green Development Corporation (NASDAQ:SGD), have entered into a non-binding letter of intent to sell its Lago Vista site for $11.5 million. The proceeds will be invested as equity in a new joint venture with a premier real estate development firm. The two companies plan to co-develop the site using SG Echo's modular units. The Lago Vista property was initially acquired by the Company in 2021 for $3.5 million.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 12:35 pm

USPH

U.S. Physical Therapy (USPH) has announced the acquisition of two physical therapy practices for $13.9M, acquiring 70% equity in both. This brings the total number of clinics purchased by the company over the last twelve months to 54.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 12:32 pm

GEF

Greif, Inc. (NYSE:GEF, GEF.B) has acquired Reliance Products, Ltd., a Canadian producer of high-performance barrier and conventional blow molded jerrycans and small plastic containers. The all-cash transaction was funded through Greif's existing credit facility. The acquisition is expected to add geographic breadth and a new barrier technology to Greif's portfolio.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 12:31 pm

UPS

United Parcel Service Inc (UPS) has acquired MNX Global Logistics for an undisclosed amount. The acquisition is expected to enhance UPS's precision and capability in the healthcare and related industries. UPS currently offers an annual dividend yield of 4.16%, which is a quarterly dividend amount of $1.62 a share. To earn $500 per month from dividends alone, an investment of approximately $144,336 or around 926 shares is needed.

Portfolio Pulse from Priya Nigam

October 02, 2023 | 12:24 pm

ZEUS

Olympic Steel has acquired Central Tube & Bar, although the terms of the deal have not been disclosed.

Portfolio Pulse from Bill Haddad

October 02, 2023 | 12:02 pm