Streetbeat News

Acquisitions Mergers

AAPL

DIS

SWKS

Wedbush analyst Daniel Ives has highlighted Apple's strategic moves to dominate the live sports streaming arena, including a 10-year streaming contract with MLS. Ives suggests that Apple might target ESPN for acquisition or partnership, aligning more with its aspirations than a potential acquisition of Disney. Citi analyst Atif Malik also holds an optimistic stance on Apple, emphasizing its robust performance and the forthcoming iPhone 15 launch.

Portfolio Pulse from Anusuya Lahiri

August 17, 2023 | 6:32 pm

EQT

EQT's shares are trading higher after several analysts raised their price targets for the company. This follows the Federal Trade Commission's (FTC) completion of its review of EQT's agreement to acquire Tug Hill's upstream assets and XcL Midstream's gathering and processing assets.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 6:31 pm

AHI

CELL

CREX

EMKR

LYTS

TRMR

WMT

US stocks traded lower with the Dow Jones falling more than 100 points. Walmart Inc reported better-than-expected Q2 earnings and raised FY24 outlook. PhenomeX Inc. shares shot up 137% after announcing a $108 million acquisition agreement with Bruker. LSI Industries Inc. shares rose 17% following better-than-expected Q4 results. Advanced Health Intelligence Ltd. shares gained 27% after obtaining overseas R&D reimbursement. Creative Realities, Inc. shares dropped 35% after reporting pricing of $6 million public offering. EMCORE Corporation shares were down 40% after reporting pricing of $15.8 million public offering. Tremor International Ltd was down 30% after reporting financial and operating results.

Portfolio Pulse from Lisa Levin

August 17, 2023 | 6:30 pm

DEN

XOM

KeyBanc Capital Markets analyst Tim Rezvan downgraded Denbury Inc (DEN) to Sector Weight from Overweight and removed the price target of $102. This follows DEN's share losses since the announcement of its acquisition by Exxon Mobil Corp (XOM) for $4.9 billion. Rezvan does not expect another bidder for DEN and sees a low chance of the deal breaking. However, if it does, DEN's share price could decline by 10% or more.

Portfolio Pulse from Lekha Gupta

August 17, 2023 | 5:41 pm

YELLQ

Estes, a rival company, has placed a $1.3 billion asset bid for Yellow. The news could potentially affect Yellow's stock price.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 5:33 pm

Ford Motor Company, SK On Co Ltd, and EcoProBM have formed a consortium to invest C$1.2 billion (~$887.51 million) in building a cathode manufacturing facility in Becancour, Quebec. The facility will supply materials for Ford's future electric vehicles, with production targeted to begin in 2026. The project is part of SK On's efforts to secure a stable supply of key battery materials in North America and marks EcoProBM's entry into the North American market.

Portfolio Pulse from Nabaparna Bhattacharya

August 17, 2023 | 5:07 pm

BRKR

CELL

Bruker Corporation (BRKR) has agreed to acquire PhenomeX Inc (CELL) for $1.00 per share in an all-cash transaction, valuing PhenomeX at approximately $108 million. PhenomeX, a functional cell biology company, was formed through the combination of Berkeley Lights and IsoPlexis. The transaction is expected to close in Q4 2023.

Portfolio Pulse from Vandana Singh

August 17, 2023 | 4:41 pm

ADBE

B of A Securities analyst Brad Sills has upgraded Adobe Inc. (NASDAQ:ADBE) from Neutral to Buy and raised the price target from $575 to $630. The analyst views Adobe as an emerging AI leader and projects its AI revenue to be $300 million in FY24, growing to $960 million by FY26. However, there is uncertainty about the proposed Figma acquisition.

Portfolio Pulse from Shivani Kumaresan

August 17, 2023 | 4:28 pm

CELL

CREX

EMKR

TIVC

The article lists the stocks that have gained and lost the most in Thursday's mid-day session. Among the gainers, PhenomeX Inc. surged 138.3% after Bruker Corporation announced plans to acquire it. Tivic Health Systems jumped 39.1% after starting enrollment for a study on its non-invasive bioelectronic device. Among the losers, Creative Realities fell 35.6% after pricing its public offering of common stock, and EMCORE Corporation also fell 35.6% after pricing its public offering.

Portfolio Pulse from Lisa Levin

August 17, 2023 | 4:26 pm

RCRT

Job Mobz has announced a definitive agreement to acquire key intellectual property from Recruiter.Com, including the recruiter.com domain name. This has led to a rise in Recruiter.Com's share prices.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 3:36 pm