Streetbeat News

Acquisitions Mergers

IGV

ORCL

SJM

TWNK

On CNBC's 'Halftime Report Final Trades', Oracle Corporation (ORCL) was named as a final trade by Jim Lebenthal of Cerity Partners, following its upbeat Q1 earnings. Anastasia Amoroso of J.P. Morgan Private Bank picked iShares Expanded Tech-Software Sector ETF (IGV). Stephanie Link of Hightower named The J. M. Smucker Company (SJM) as her pick, following its plans to acquire Hostess Brands (TWNK) for $5.6 billion.

Portfolio Pulse from Lisa Levin

September 12, 2023 | 12:46 pm

EXAS

Agilent Technologies, Inc. (NYSE:A) and Exact Sciences Corp. (NASDAQ:EXAS) have entered into a definitive agreement for the sale of Resolution Bioscience to Exact Sciences. The financial terms of the agreement were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 12:38 pm

SJM

TWNK

J. M. Smucker Co. (NYSE:SJM) plans to acquire Hostess Brands (NASDAQ:TWNK) for $34.25 per share, a total enterprise value of $5.6 billion. Smucker's current dividend yield is 3.22%, and to earn $500 monthly from Smucker dividends, an investor would need to own approximately $186,299 worth of Smucker, or 1,415 shares. The dividend yield can change as the dividend payment and the stock price fluctuate over time.

Portfolio Pulse from Lisa Levin

September 12, 2023 | 12:30 pm

EDRY

EuroDry Ltd. (EDRY) has announced an agreement to acquire three Eco Ultramax bulkers for approximately $65 million. The acquisition is expected to be financed through a combination of debt and equity.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 12:20 pm

DOGEUSD

TSLA

Elon Musk's biography by Walter Isaacson reveals details about the opening celebration of Tesla's Gigafactory in Texas, which featured a grand event called 'Cyber Rodeo'. The event was organized by Musk's brother Kimbal and featured the likenesses of Nikola Tesla, the Dogecoin dog mascot, and a Cybertruck. The biography also mentions Sam Bankman-Fried, the former CEO of FTX, and his attempt to secure a role in the acquisition of Twitter.

Portfolio Pulse from Mehab Qureshi

September 12, 2023 | 12:13 pm

EXEL

Exelixis and Insilico Medicine have entered into an exclusive global license agreement for ISM3091. Insilico has granted Exelixis an exclusive worldwide license to develop and commercialize ISM3091 for an upfront payment of $80 million.

Portfolio Pulse from Bill Haddad

September 12, 2023 | 12:03 pm

SHEL

Shell PLC (NYSE:SHEL) is divesting its 30% stake in the Cambo oilfield to Ithaca Energy, increasing Ithaca's ownership to 100%. The deal is valued at $77.85 million. This comes after numerous protests by climate activists and rumors about Shell wanting to offload its stake. Shell's shares are trading lower by 0.03% to $63.50 premarket.

Portfolio Pulse from Nabaparna Bhattacharya

September 12, 2023 | 11:55 am

AAPL

AMZN

GOOG

MSFT

NVDA

QCOM

SFTBF

Arm Ltd is preparing for a significant initial public offering (IPO), with a strategic shift towards high-value chip design. The company's new focus includes mobile devices, cloud computing, automotive electronics, and IoT technology. Arm's CEO, Rene Haas, aims to increase the company's valuation to $54.5 billion in its IPO, a substantial increase from the $32 billion SoftBank Corp paid for Arm in 2016. The shift in strategy was prompted by Nvidia's failed attempt to purchase Arm for $40 billion in 2022.

Portfolio Pulse from Anusuya Lahiri

September 12, 2023 | 11:36 am

CWH

Camping World announced its plans to acquire Edmundson RV in Edinburgh, Indiana. The transaction is expected to close in the first quarter of 2024, increasing Camping World's Indiana location count to four. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 11:35 am

MSFT

VGK

EU antitrust regulators are seeking views on Microsoft's remedies to UK watchdog. This comes after Microsoft's proposed acquisition of Nuance Communications, which raised competition concerns.

Portfolio Pulse from Charles Gross

September 12, 2023 | 11:29 am