Streetbeat News

Acquisitions Mergers

STSS

Sharps Technology, Inc. has signed a $50M asset purchase agreement to acquire Nephron's InjectEZ Syringe manufacturing facility. Nephron has committed to minimum orders of over $400M over the next 10 years.

Portfolio Pulse from Bill Haddad

September 26, 2023 | 12:38 pm

SIRI

Sirius XM shares are trading lower after Liberty Media proposed a combination with the company.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 12:30 pm

BAH

Booz Allen Hamilton (BAH) has invested in HiddenLayer to enhance its adversarial AI capabilities. The investment will scale up Booz Allen's ability to protect federal AI missions through HiddenLayer's MLSec platform.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 12:11 pm

LSCC

SLB

SPLK

TTOO

Insiders at Lattice Semiconductor Corporation (LSCC), Splunk Inc. (SPLK), Schlumberger Limited (SLB), and T2 Biosystems, Inc. (TTOO) have recently sold shares. While insider sales can sometimes indicate concern about a company's prospects, they can also be part of a preplanned sale. Rosenblatt reiterated LSCC with a Buy and maintained a $110 price target. Cisco announced it will acquire SPLK for roughly $28 billion. Citigroup maintained SLB with a Buy and raised the price target from $66 to $70. The FDA cleared TTOO's biothreat panel for commercial distribution.

Portfolio Pulse from Lisa Levin

September 26, 2023 | 12:09 pm

ICPT

Italy's Alfasigma has agreed to acquire Intercept Pharmaceuticals for $19.00 per share in cash. The deal is expected to close in the first quarter of 2023.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 12:01 pm

RGEN

Repligen has agreed to acquire Metenova, a company that is projected to generate revenues of $24 million to $25 million for fiscal year 2023. The acquisition is expected to contribute approximately $5 million in revenue to Repligen in the fourth quarter of 2023, and $25 million to $27 million in revenue in 2024, with 20%-25% revenue growth in 2025 forward. The acquisition is anticipated to be accretive to Repligen's adjusted gross and operating margins in 2024, and to be accretive to adjusted earnings per share in 2025.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 11:37 am

BABA

FXI

KWEB

PDD

Alibaba Group Holding Limited (NYSE:BABA) plans to spin off Cainiao Smart Logistics Network Limited with a separate listing on the Hong Kong Stock Exchange, while retaining majority shareholding. This comes amid concerns over China's property sector, affecting Alibaba's stock and broader indexes like iShares China Large-Cap ETF (NYSE:FXI) and KraneShares Trust KraneShares CSI China Internet ETF (NYSE:KWEB). The global e-commerce sector is shifting towards discount retailing due to China's economic issues and inflation in the U.S. and Europe. Despite growth reported by Alibaba and JD.com Inc (NASDAQ:JD), PDD Holdings Inc (NASDAQ:PDD) reported a 66% YoY revenue increase, outperforming both.

Portfolio Pulse from Anusuya Lahiri

September 26, 2023 | 11:28 am

FWONA

FWONK

LSXMA

LSXMB

SIRI

Liberty Media has proposed a combination with Sirius XM Holdings. If the deal goes through, minority shareholders of SiriusXM would receive 1 share of the new SiriusXM common stock plus $0.55 in cash for each share of SiriusXM common stock held at closing.

Portfolio Pulse from Charles Gross

September 26, 2023 | 11:19 am

SBRA

Hersha Hospitality Trust (HT) and Sabra Health Care REIT (SBRA) are identified as overbought stocks in the real estate sector, indicating potential short-term investment opportunities. HT recently announced a merger with KSL Capital Partners, while SBRA reported weaker-than-expected Q2 sales.

Portfolio Pulse from Lisa Levin

September 26, 2023 | 11:12 am

LSXMA

LSXMK

SIRI

Liberty Media has proposed a combination of Liberty SiriusXM Tracking Stock Group with SiriusXM Holdings to form a new public company. The proposal was communicated to SiriusXM Holdings' Special Committee on September 22.

Portfolio Pulse from Charles Gross

September 26, 2023 | 11:11 am