Streetbeat News

Acquisitions Mergers

LBPH

Longboard Pharmaceuticals shares experienced increased trading volume as traders circulated mentions of the company on an M&A blog, suggesting potential merger or acquisition activity.

Portfolio Pulse from Benzinga Newsdesk

October 01, 2024 | 7:26 pm

TMO

Stephens initiated coverage on Thermo Fisher Scientific (NYSE:TMO), highlighting its leadership in the life science tools/services/diagnostics industry. The company is well-positioned for growth, particularly in the biopharma sector, due to its strategic mergers and acquisitions. Thermo Fisher's contract development and manufacturing organization (CDMO) is set to benefit from the demand for GLP-1 weight loss drugs and biologics production. Stephens rated the stock as Overweight with a price target of $680.

Portfolio Pulse from Vandana Singh

October 01, 2024 | 7:12 pm

CVX

HES

XOM

Hess Corporation and Chevron Corporation shares are trading higher following the FTC's completion of an antitrust review for their merger. Analysts have raised Hess' valuation due to increased resources in Guyana, and Hess is seen as a compelling value opportunity. Wolfe Research upgraded Hess, citing attractive risk/reward profiles in various scenarios, including a potential merger with Chevron.

Portfolio Pulse from Lekha Gupta

October 01, 2024 | 6:45 pm

MRK

MRNA

MYNZ

PFE

Pfizer and Moderna are leveraging mRNA technology, initially successful in COVID-19 vaccines, to target cancer treatment. Pfizer is focusing on oncology with a $43 billion acquisition of Seagen, while Moderna collaborates with Merck on cancer trials. Mainz Biomed is advancing early cancer detection with its ColoAlert test.

Portfolio Pulse from Upwallstreet

October 01, 2024 | 6:11 pm

LBO

PSP

TPG

TPG Inc. (NASDAQ:TPG) and GIC are acquiring Techem Group for $7.5 billion, with the transaction expected to close in the first half of 2025. TPG Rise Climate, a subsidiary of TPG, is leading the acquisition, marking its largest transaction to date. The deal aims to expand Techem's operations across Europe and beyond. TPG shares are trading lower following the announcement.

Portfolio Pulse from Lekha Gupta

October 01, 2024 | 4:40 pm

SNY

Sanofi is reportedly seeking revised bids for one of its units in the coming days, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

October 01, 2024 | 4:26 pm

TAP

TLRY

Tilray Brands, Inc. (NASDAQ:TLRY) is set to release its financial results on October 10, 2024. The company has shown significant growth in its cannabis and beverage-alcohol segments, with recent acquisitions in the U.S. craft beer market. Analyst Pablo Zuanic suggests TLRY as a long-term holding due to its liquidity and market position.

Portfolio Pulse from Jelena Martinovic

October 01, 2024 | 4:22 pm

CVS

HUM

UNH

CVS Health is exploring options, including a potential break-up to separate its retail and insurance units, amid investor pressure and financial challenges. The company is considering splitting its pharmacy chain and insurance business, which could result in two publicly traded companies. This move would reverse CVS's $70 billion acquisition of Aetna in 2017. CVS faces rising costs and a declining share price, underperforming the S&P 500. The company is also implementing a $1 billion cost-cutting plan.

Portfolio Pulse from Benzinga Newsdesk

October 01, 2024 | 3:51 pm

BABA

Alibaba's Sun Art Retail Group faces uncertainty as trading suspension fuels divestment rumors. Alibaba's stake in Sun Art, acquired for $3.6 billion in 2020, may be divested, with private equity firms showing interest. Alibaba's recent performance shows mixed results, with a 4% topline growth but a decline in China's retail commerce revenue.

Portfolio Pulse from Anusuya Lahiri

October 01, 2024 | 2:52 pm

DRLL

WEEI

XOM

ExxonMobil's $1.28 billion asset sale to Seplat Energy in Nigeria is nearing completion, pending ministerial approval. The deal, initially announced in 2022, faced delays due to regulatory issues and opposition from NNPC. ExxonMobil plans further investments in Nigeria's oil sector.

Portfolio Pulse from Lekha Gupta

October 01, 2024 | 2:29 pm