Streetbeat News

Acquisitions Mergers

DIS

NXST

The Walt Disney Co. (NYSE:DIS) and Nexstar Media Group Inc. (NASDAQ:NXST) are reportedly in early talks regarding the potential sale of Disney’s ABC network and its associated TV stations. No specific valuation has been discussed yet. The news led to a 5.9% increase in Nexstar shares and a 1.2% increase in Disney shares. The potential sale indicates a significant shift in Disney’s focus towards its rapidly expanding digital platforms like Disney+ and Hulu.

Portfolio Pulse from Piero Cingari

September 14, 2023 | 8:12 pm

BIOL

CMND

FWBI

IBEX

MYTE

PFSW

U.S. stocks traded higher with the Nasdaq Composite gaining more than 100 points. First Wave BioPharma shares spiked 23% after announcing a license agreement for capeserod from Sanofi. PFSweb shares shot up 48% after GXO Logistics announced it will acquire the company. MYT Netherlands Parent B.V. shares gained 13% after reporting Q4 financial results. IBEX Limited shares dropped 25% after reporting worse-than-expected Q4 results and issuing FY24 revenue guidance below estimates. Clearmind Medicine shares were down 57% after announcing pricing of a public offering. BIOLASE shares fell 38% after announcing pricing of a public offering.

Portfolio Pulse from Lisa Levin

September 14, 2023 | 6:30 pm

FOUR

Shares of Shift4 Payments are trading higher due to rumors of a potential private equity takeover.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 6:24 pm

AMZN

SHOP

WMT

Amazon is capitalizing on the discontinuation of Shopify's shipping services by promoting its Buy With Prime service, which facilitates orders from non-Amazon.com sites. This move is expected to boost online merchants' sales and conversion rates. Amazon anticipates more shoppers will now purchase from brand websites rather than online marketplaces like Amazon.com and Walmart.com. Direct-to-consumer sales are projected to rise 17% in 2023, reaching $182.6 billion.

Portfolio Pulse from Anusuya Lahiri

September 14, 2023 | 6:20 pm

DIS

Disney is reportedly in initial talks to sell ABC to Nexstar, according to Bloomberg. No further details about the potential deal have been disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 6:12 pm

CMND

FWBI

PFSW

SEZL

Several stocks experienced significant price movements in Wednesday's mid-day session. First Wave BioPharma shares jumped 89.5% after announcing a license agreement for capeserod from Sanofi. PFSweb gained 48.3% following GXO Logistics' acquisition announcement. Taseko Mines, Avalo Therapeutics, NeuBase Therapeutics, MYT Netherlands Parent, Soluna Holdings, Nikola Corporation, Trinseo, Alaunos Therapeutics, Orchestra BioMed Holdings, Eiger BioPharmaceuticals, Uniti Group, Lixiang Education Holding, TransCode Therapeutics, and Novo Integrated Sciences also saw gains. On the other hand, Sezzle, Clearmind Medicine, BIOLASE, OKYO Pharma, IBEX, Bionomics, MicroCloud Hologram, Harpoon Therapeutics, ZyVersa Therapeutics, Super League Enterprise, Axcella Health, BIMI International Medical, Impel Pharmaceuticals, PureCycle Technologies, Ivanhoe Electric, SIMPPLE, Iovance Biotherapeutics, Radiant Logistics, CS Disco, Ambipar Emergency Response, Genius Sports, and Vital Energy saw declines.

Portfolio Pulse from Lisa Levin

September 14, 2023 | 4:58 pm

ARM

NVDA

SFTBY

ARM Holdings PLC has launched its IPO with a valuation of $54.5 billion, marking the biggest IPO of 2023. SoftBank, which acquired ARM in 2016, is retaining 90% ownership and offering 10% of the company on the open market. SoftBank recently consolidated its ownership from 75% to 100% before the IPO. ARM's CPUs are a vital component for Nvidia Corp’s GPUs to operate AI functions.

Portfolio Pulse from AJ Fabino

September 14, 2023 | 4:29 pm

CBDD

CBD of Denver, Inc. (OTC:CBDD) has announced that its subsidiary, Luxora, is making a move into the European cannabis market by signing four Letters of Intent for the establishment and operation of four Cannabis Clubs in Germany. Luxora is introducing a 'Production Facility Rental Model' to support these clubs, which will supply unique cannabis strains, positioning Luxora for pending German legislation expected to legalize cannabis clubs. CBD of Denver is also repositioning Berliner Innovation and adopting a 'North American-style' social media approach to expand its product offerings in Europe.

Portfolio Pulse from Nicolás Jose Rodriguez

September 14, 2023 | 4:18 pm

APA

TTE

XOM

TotalEnergies SE (TTE) is launching development studies for a $9 billion oil project in Block 58, offshore Suriname. TotalEnergies, which operates Block 58 with a 50% interest alongside APA Corporation (APA), expects to start detailed engineering studies by the end of 2023, with a final investment decision by the end of 2024 and first production in 2028. The project aligns with TotalEnergies' strategy of developing low-cost, low-emission oil resources. Exxon Mobil Corporation (XOM) has also struck oil in the nearby Stabroek block.

Portfolio Pulse from Nabaparna Bhattacharya

September 14, 2023 | 4:17 pm

FOUR

Shift4 Payments (FOUR) is rumored to be a takeover target for private equity firms, according to StreetInsider.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 3:48 pm