Streetbeat News

Acquisitions Mergers

ACN

Accenture has acquired ATI Solutions Group, an Australian company, to strengthen its automation capabilities. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 6:17 am

ACHR

ARKK

ARKQ

ARKX

STLA

UAL

Ark Invest, led by Cathie Wood, has purchased nearly $3.9 million worth of shares in Archer Aviation Inc (NASDAQ:ACHR), demonstrating a bullish stance on the flying car company. The purchases were made through ARK Innovation ETF (NYSE:ARKK), ARK Autonomous Technology & Robotics ETF (BATS:ARKQ), and ARK Space Exploration & Innovation ETF (BATS:ARKX). Archer Aviation recently secured a $215 million equity investment from industry leaders including Boeing Co (NYSE:BA), Stellantis N.V. (NYSE:STLA), and United Airlines (NASDAQ:UAL).

Portfolio Pulse from Benzinga Neuro

August 29, 2023 | 2:25 am

TSRI

The board of TSR, Inc. (TSRI) has initiated a process to identify and evaluate potential strategic alternatives. The move is aimed at enhancing shareholder value and could include a sale of the company, among other options.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 9:06 pm

SKYE

Versant Venture Capital III, L.P. has acquired a 19.6% stake in Skye Biosciences, according to a 13G filing.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 8:33 pm

BEAT

Public Ventures, LLC has acquired a 9.41% stake in HeartBeam, according to a 13D filing.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 8:32 pm

TECH

William Blair has initiated coverage on Bio-Techne Corp (NASDAQ:TECH) with an Outperform rating. Bio-Techne is positioned in high-growth markets such as cell and gene therapy, spatial biology, and liquid biopsy, representing a total addressable market (TAM) of above $8.0 billion. The company's extensive product range covers a TAM of approximately $24 billion. Bio-Techne's legacy is characterized by adept acquisitions and seamless integrations, which have consistently fueled double-digit organic growth.

Portfolio Pulse from Vandana Singh

August 28, 2023 | 8:09 pm

IBP

Installed Building Products (IBP) has announced the acquisition of Interior 2000 Products, LLC. The acquisition is expected to add approximately $6 million of annual revenue to IBP. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 8:09 pm

AGIL

GDC

IDEX

NVCR

U.S. stocks traded higher with the Dow Jones gaining over 100 points. Real estate shares jumped by 0.9%. Hawaiian Electric Industries, Inc. (NYSE:HE) shares shot up 40% after the company responded to a lawsuit filed by the County of Maui. GD Culture Group Limited (NASDAQ:GDC) shares rose 43% after announcing the launch of a live-streaming e-commerce business on TikTok. Hersha Hospitality Trust (NYSE:HT) shares gained 56% after announcing a merger with KSL Capital Partners LLC. AgileThought, Inc. (NASDAQ:AGIL) shares dropped 33% after being downgraded from Buy to Sell. NovoCure Limited (NASDAQ:NVCR) shares were down 36% after its Phase 3 trial did not meet its primary endpoint. Ideanomics, Inc. (NASDAQ:IDEX) shares fell 18% after reporting Q2 results.

Portfolio Pulse from Lisa Levin

August 28, 2023 | 7:00 pm

MTSI

WOLF

Benchmark analyst David Williams upgraded MACOM Technology Solutions Holdings Inc. (MTSI) to Buy from Hold, with a price target of $92. The upgrade is based on MTSI's acquisition of radio frequency business from Wolfspeed Inc (WOLF) for $125 million. The analyst expects MTSI to garner an annualized EPS accretion of about $0.58 post-full integration. Further datacenter AI opportunities for MTSI are also anticipated.

Portfolio Pulse from Lekha Gupta

August 28, 2023 | 6:13 pm

PLNHF

TCNNF

Planet 13 Holdings Inc. has announced a $48.9 million deal to acquire VidaCann, LLC, a move that will make it a direct competitor to Trulieve in the Florida market. The deal includes VidaCann's 26 dispensaries, a greenhouse cultivation facility, and a processing and analytical lab. Post-transaction, former VidaCann equity holders and the VC Advisor will have approximately 26.09% pro forma ownership in Planet 13.

Portfolio Pulse from Jelena Martinovic

August 28, 2023 | 6:10 pm