Streetbeat News

Acquisitions Mergers

CPRI

TPR

Tapestry, Inc. (NYSE:TPR) is expected to report higher Q4 earnings of 97 cents per share, up from 78 cents per share a year ago. The company's revenue is projected to be $1.65 billion, slightly higher than the $1.62 billion in the same period last year. Tapestry recently announced plans to acquire Capri Holdings Limited (NYSE:CPRI) for $57 per share in cash. Several analysts have updated their ratings and price targets for Tapestry, with most maintaining a positive outlook.

Portfolio Pulse from Lisa Levin

August 17, 2023 | 6:15 am

AAPL

DIS

Apple Inc. (AAPL) is reportedly considering acquiring ESPN from Walt Disney Co. (DIS) to boost its live sports content on Apple TV, according to Wedbush analyst Daniel Ives. Ives believes that ESPN, which could cost over $50 billion, would be a strategic acquisition for Apple, providing valuable sports content and major TV rights. However, he also noted potential antitrust concerns. Ives has an Outperform rating and a $230 price target on Apple shares.

Portfolio Pulse from Shanthi Rexaline

August 17, 2023 | 5:55 am

ACHR

DNA

EXAS

NTLA

RXRX

SHOP

Ark Invest, led by Cathie Wood, has continued to buy shares of Archer Aviation Inc (ACHR), a flying taxi company, with a recent purchase valued at $16 million. This comes after Archer secured a $215 million equity investment from industry giants like Boeing Co, Stellantis N.V., and United Airlines. In contrast, Ark Invest sold Shopify Inc (SHOP) shares worth $10.08 million. Other trades included purchases of Recurson Pharmaceuticals (RXRX), Ginkgo Bioworks Holdings Inc (DNA), and Intellia Therapeutics Inc (NTLA), and selling of Exact Sciences Corp (EXAS) shares.

Portfolio Pulse from Benzinga Neuro

August 17, 2023 | 1:59 am

AHI

Advanced Health Intelligence Ltd (NASDAQ:AHI) has successfully obtained eligibility for a 43.5% reimbursement of approved expenditures incurred abroad for overseas R&D under the Australian Government Research and Development Tax Incentive Scheme. This follows the company's acquisitions of Vertica Health and wellteq Digital Health Inc. in 2022, which expanded its global development team across the US, Singapore, South Africa, and Netherlands.

Portfolio Pulse from Charles Gross

August 16, 2023 | 11:09 pm

INTC

NVDA

TSEM

NVIDIA Corp (NVDA) is gaining a competitive edge in the semiconductor industry with its AI chips, which promise substantial energy savings and enhanced performance for data centers. The company's chips are being heavily invested in by Saudi Arabia and U.A.E. Meanwhile, Intel's (INTC) proposed acquisition of Tower Semiconductor (TSEM) is facing delays due to resistance from China's State Administration for Market Regulation. China's semiconductor production growth has also slowed, which could increase competition for NVDA.

Portfolio Pulse from Mohit Manghnani

August 16, 2023 | 11:02 pm

CHEK

Check-Cap security holders and Keystone Dental security holders are expected to own 15% and 85% of the combined company respectively. The equity valuations for Check-Cap and Keystone Dental are $39.7 million and $225 million respectively.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 9:13 pm

CHEK

Keystone Dental Holdings and Check-Cap have entered into a definitive business combination agreement. The combined company will trade on Nasdaq under the symbol 'KSD'.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 9:10 pm

YOTA

Yotta Acquisition Corp has terminated its merger deal with NaturalShrimp due to breaches of obligations by NaturalShrimp, according to an SEC filing. NaturalShrimp has not yet responded to the termination.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 8:30 pm

EQT

EQT Corporation has received approval from the U.S. Federal Trade Commission to acquire Tug Hill's upstream assets and XcL Midstream's gathering and processing assets. The acquisition is expected to lower EQT's cost structure, reduce development risk, increase cash flow and net asset value per share, and maintain its investment grade balance sheet. The transaction is expected to close within the next seven business days.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 8:22 pm

MXL

SIMO

MaxLinear has announced that it will 'vigorously defend its right to terminate the Silicon Motion transaction without penalty in arbitration'.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 8:10 pm