Streetbeat News

Acquisitions Mergers

LSXMA

Liberty Media Corporation has announced a definitive agreement to acquire QuintEvents for $313 million.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 5:48 pm

AYX

Alteryx, a data analytics company, is reportedly working with Qatalyst Partners to explore a potential sale of the company, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 5:48 pm

ACI

KR

Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating on Kroger Company (NYSE:KR) with a price target of $55. Kroger's growth is expected to be driven by geographic expansion and digital initiatives. The company's acquisition of Albertsons Companies, Inc. (NYSE:ACI) is also expected to solidify its leadership in the U.S. grocery market. Feldman expects Kroger to report solid Q2 earnings on September 8, with an EPS of $0.92.

Portfolio Pulse from Nabaparna Bhattacharya

September 06, 2023 | 5:17 pm

ACI

KR

C&S Wholesale Grocers, backed by SoftBank Group, is close to acquiring stores from Kroger and Albertsons Companies Inc. The move is part of the companies' efforts to obtain regulatory approval for their $25 billion merger. The stores to be sold could be worth over $1 billion and are located across various regions where the two companies operate. The Federal Trade Commission is currently reviewing the proposed acquisition.

Portfolio Pulse from Happy Mohamed

September 06, 2023 | 5:09 pm

CMCSA

DIS

Comcast Corp (NASDAQ:CMCSA) and Walt Disney Co (NYSE:DIS) have expedited their discussions about the sale of Hulu, with a date set for September 30. Comcast, which owns one-third of Hulu, initially planned to initiate sale talks with Disney, the holder of the other two-thirds, in January 2024. Comcast CEO Brian Roberts estimates the potential value of synergies related to Hulu at $30 billion. If Comcast sells its Hulu stake, the proceeds will go to shareholders.

Portfolio Pulse from Anusuya Lahiri

September 06, 2023 | 4:36 pm

NXGN

NextGen Healthcare has agreed to be acquired by Thoma Bravo for $23.95 per share in cash. This has resulted in a surge in the company's stock price.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 4:32 pm

TEF

Telefonica SA's stock is trading lower after Saudi Telecom Co Group acquired a 9.9% stake in the company. The Spanish government may scrutinize this move as Telefonica is considered a company of strategic importance. Saudi Telecom does not plan to gain control or take on a majority stake in Telefonica. This is Saudi Telecom's second venture into Europe in 2023.

Portfolio Pulse from Anusuya Lahiri

September 06, 2023 | 4:30 pm

MSFT

NVDA

Microsoft-backed startup D-Matrix is set to compete with Nvidia in the AI market. D-Matrix recently raised $110 million in a Series B funding round, led by Temasek and supported by Playground Global and Microsoft. The startup's unique selling proposition is its tailored chips, optimized for generative AI applications. Microsoft is actively considering the startup's chip for its ventures. D-Matrix projects a revenue of under $10 million this year, with an anticipated annual revenue of $70 to $75 million within two years.

Portfolio Pulse from AJ Fabino

September 06, 2023 | 4:30 pm

LUV

NBSE

Symetryx Corporation has acquired a 20% stake in NeuBase Therapeutics and urged the board to issue a special $1 per share dividend. Meanwhile, Southwest Airlines expects Q3 operating revenue per available seat mile to be down 5%-7% year over year, compared to prior guidance of down 3%-7%. The company also sees Q3 available seat miles up about 12%, unchanged from previous guidance.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 4:17 pm

CGC

Canopy Growth Corporation's subsidiary, Canopy Growth Germany GmbH, is rebranding from Spectrum Therapeutics to Canopy Medical in the German market. This move aligns the company's medical business with the corporate Canopy Growth brand and reinforces its commitment to the German medical cannabis market. The rebranding will be phased in to ensure continuity of service for customers and partners. Canopy Growth recently reported first-quarter sales of CA$109 million ($81.2 million), beating the analyst consensus estimate of CA$67.98 million.

Portfolio Pulse from Jelena Martinovic

September 06, 2023 | 3:45 pm