Streetbeat News

Acquisitions Mergers

DIS

PENN

Penn Entertainment (PENN) has announced an agreement with The Walt Disney Company (DIS) to launch ESPN Bet in the fall. As part of the deal, PENN will divest the Barstool Sports business back to its founder, Dave Portnoy. A recent SEC filing from PENN listed 1,254,880 shares previously issued to Portnoy, which led to speculation that Portnoy was selling his PENN stock. However, Portnoy has refuted these claims, stating that he still owns the shares and has no plans to sell at the current price.

Portfolio Pulse from Chris Katje

August 11, 2023 | 5:03 pm

MIMO

Airspan Networks Holdings has announced the closing of its Mimosa sale to Reliance Jio and financing transactions. This has led to a rise in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 4:47 pm

ILMN

Illumina Inc (NASDAQ:ILMN) is under investigation by the Securities and Exchange Commission (SEC) regarding its $8 billion acquisition of Grail. The company disclosed this in its quarterly 10Q filing, stating that it received a letter in July 2023 about the investigation. The SEC is requesting documents related to the acquisition, Grail's products, and the conduct and compensation of certain management members. Illumina's shares are down 3.81% at $178.06.

Portfolio Pulse from Vandana Singh

August 11, 2023 | 4:31 pm

DBTX

MGNI

ORGN

XFOR

XOM

Benzinga's Stock Whisper Index has highlighted five stocks that are currently under the radar but warrant attention. These include Decibel Therapeutics Inc (DBTX), which is being acquired by Regeneron Pharmaceuticals Inc (REGN), Origin Materials Inc (ORGN) which reported lower than expected Q2 results, Magnite Inc (MGNI) which saw a drop in shares after Q2 results, X4 Pharmaceuticals (XFOR) which saw a 36% decline in shares, and Exxon Mobil Corp (XOM) which is seeing increased investor interest.

Portfolio Pulse from Chris Katje

August 11, 2023 | 2:55 pm

AMCR

Amcor PLC (NYSE:AMCR) has announced an agreement to acquire Phoenix Flexibles, a move aimed at expanding its presence in the high-growth Indian market. The acquisition, expected to close in Q3 2023, will allow Amcor to expand its product offering in high-value segments and add advanced film technology for more sustainable packaging solutions. Phoenix Flexibles generates annual revenue of approximately $20 million. As of March 31, 2023, AMCR's cash and cash equivalents stood at $564 million.

Portfolio Pulse from Lekha Gupta

August 11, 2023 | 2:26 pm

TTWO

Rockstar Games has announced that Cfx.re, the team behind the biggest Rockstar roleplay and creator communities, FiveM and RedM, is now officially a part of Rockstar Games. This partnership aims to support the roleplay creative community and improve the services provided to developers and players.

Portfolio Pulse from Happy Mohamed

August 11, 2023 | 1:51 pm

AMCR

Amcor has announced the acquisition of Phoenix Flexibles. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 1:07 pm

GMGI

Golden Matrix Group Inc. (NASDAQ:GMGI) reported record Q3 revenues exceeding $11 million, with significant contributions from RKings Tournament Competitions and GMGAssets. The company's online casino and sportsbook in Mexico, MEXPLAY, also showed consistent progress with total wagering, player deposits, and registered players all increasing significantly. The company is also in the process of acquiring the MeridianBet Group.

Portfolio Pulse from Happy Mohamed

August 11, 2023 | 12:34 pm

ARCE

Arco Platform has announced that it has signed an agreement to go private at $14 per share in cash. This has resulted in its shares trading higher.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 12:26 pm

CANO

Cano Health reported worse-than-expected Q2 financial results, withdrew its guidance, and announced it is pursuing a sale process. The company also expressed doubt over its ability to continue as a going concern, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 12:20 pm