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Acquisitions Mergers

GSAT

Globalstar has appointed Dr. Paul Jacobs as CEO and announced a licensing agreement with XCOM Labs. This news has led to an increase in Globalstar's share price.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 12:35 pm

JUPW

Jupiter Wellness, Inc. (NASDAQ:JUPW) has appointed Jarrett Boon as the company's COO. Boon, a co-founder and former CEO of GBB Drink Lab, will lead the launch and growth of the Safety Shot business, a rapid blood alcohol detox drink. The hangover remedy market, where Safety Shot will be positioned, is valued at $1.56 billion and projected to grow at a CAGR of 14.6% through 2028. Boon was also an original investor in LifeLock, which was acquired for $2.3 billion.

Portfolio Pulse from Happy Mohamed

August 29, 2023 | 12:33 pm

AZN

CTLT

DHR

JNJ

MRNA

NVO

Catalent Inc has finalized a deal with Elliott Investment Management, appointing four new independent directors to its board and establishing a Strategic and Operational Review Committee. The company reported Q4 adjusted EPS of $0.09, missing the consensus of $0.10, with sales of $1.07 billion, down 17% Y/Y. Catalent forecasts FY24 sales of $4.30 billion-$4.50 billion. The company has faced acquisition interest from multiple entities and has been navigating through multiple challenges recently.

Portfolio Pulse from Vandana Singh

August 29, 2023 | 12:17 pm

GSAT

Globalstar, Inc. (NYSE:GSAT) has appointed Dr. Paul Jacobs, founder and CEO of XCOM Labs and former CEO of Qualcomm, as its new CEO. Globalstar has also licensed XCOM Labs' technology to enhance its terrestrial wireless efforts. The company aims to accelerate and expand its ability to develop commercial applications and enter a broader range of end markets. The licensing agreement will be paid with approximately 60 million shares of Globalstar common stock.

Portfolio Pulse from Happy Mohamed

August 29, 2023 | 12:13 pm

HHH

HT

Hersha Hospitality Trust (HT) and Howard Hughes Holdings Inc. (HHH) are identified as overbought stocks in the real estate sector, with RSI values of 87.57 and 87.72 respectively. HT recently announced a merger with KSL Capital Partners, while HHH appointed Kristi Smith as President of the company's Maryland region.

Portfolio Pulse from Lisa Levin

August 29, 2023 | 11:45 am

IREN

NVDA

Iris Energy Limited (NASDAQ:IREN), a Bitcoin mining data center operator, has purchased 248 NVIDIA H100 GPUs for approximately $10 million. The GPUs will be used to target generative AI.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 11:32 am

ELF

e.l.f. Beauty has announced a definitive agreement to acquire skin care brand Naturium for $355 million. The acquisition is expected to strengthen e.l.f. Beauty's position in the skin care market.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 10:49 am

WTMA

Welsbach Technology Metals Acquisition Corp. (WTMA), a blank check company, has announced an extension of the deadline to complete a business combination until September 30, 2023. This is in accordance with Article G of the company's amended and restated certificate of incorporation.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 10:18 am

HEI

Heico Corp reported a Q3 FY23 revenue increase of 27% Y/Y to $722.9 million, beating the consensus of $701.7 million. The company warned of potential higher material and labor costs due to inflationary pressures and supply chain disruptions. Heico recently closed the acquisition of Wencor Group for $2.05 billion, marking its largest-ever acquisition. The company anticipates net sales growth in both the FSG and ETG, driven by demand for the majority of its products.

Portfolio Pulse from Lekha Gupta

August 29, 2023 | 9:57 am

SVA

Alternative Liquidity Index LP has made an unsolicited partial tender offer to acquire up to 10 million shares of Sinovac Biotech Ltd. (NASDAQ:SVA), representing about 10.05% of the company's outstanding shares, for $0.03 per share in cash.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 7:17 am