Streetbeat News

Acquisitions Mergers

AAPL

DIS

PENN

Rumors of Apple Inc. buying Walt Disney Co. have been circulating, but following Disney's Q3 results, an analyst has stated it's unlikely. Disney is struggling with an uncertain economic recovery, impacting its theme park attendance and stock price. However, Apple may be interested in Disney's ESPN division. Disney's ESPN recently announced a sports betting partnership with Penn Entertainment, Inc.

Portfolio Pulse from Shanthi Rexaline

August 10, 2023 | 12:54 pm

TPR

Tapestry Inc. has announced a definitive agreement to acquire Capri Holdings. This news has led to a decrease in Tapestry's share price.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 12:40 pm

CPRI

Tapestry has announced a definitive agreement to acquire Capri, leading to a rise in Capri's share prices.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 12:37 pm

BWAQ

Vietnam Sunergy Cell Company Limited (TOYO Solar) and Blue World Acquisition Corporation (NASDAQ:BWAQ) have announced a definitive business combination agreement. Post the transaction, Blue World will merge into a wholly owned subsidiary of TOYO Solar's parent company, TOYO Co., Ltd, which will be the holding company of the combined entity and be listed on Nasdaq. The transaction has been approved by the directors and shareholders of both companies and is expected to close in H1 2024, subject to regulatory approvals.

Portfolio Pulse from Happy Mohamed

August 10, 2023 | 12:35 pm

CHKP

Check Point Software Technologies Ltd. (NASDAQ:CHKP) has signed an agreement to acquire Perimeter 81, a Security Service Edge (SSE) company, for approximately $490 million. The acquisition aims to accelerate the adoption of secure access across various platforms and deliver the most secure and fastest SSE solution in the market. The Secure Access Service Edge (SASE) market is expected to reach $20B+ by 2026. The acquisition is expected to close in the third quarter of 2023.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 12:14 pm

BABA

DIS

NVO

PLTR

RBLX

TSLA

The article provides a roundup of market, crypto, tech, and political headlines. Key points include Disney and Alibaba being stocks to watch, Cathie Wood buying Roblox and Palantir, a Dogecoin wallet transferring $5M to Coinbase, Avid Technology's $1.4B acquisition deal, and GM Cadillac's EV performance falling short of Tesla. Additionally, Disney's India streaming arm is losing subscribers, Ralph Lauren and Capri Holdings are expected to release earnings, and Novo Nordisk reports solid results with a 365% sales jump for obesity drug Wegovy.

Portfolio Pulse from Akanksha Bakshi

August 10, 2023 | 12:14 pm

AMRS

APP

CPRI

GRTX

AppLovin Corporation's shares rose by 22.6% in pre-market trading following better-than-expected Q2 results. Capri Holdings Limited's shares also rose by 26.8% as Tapestry is reportedly nearing a deal to buy the company. On the other hand, Amyris, Inc.'s shares fell by 56.2% after the company filed for bankruptcy, and Galera Therapeutics, Inc.'s shares fell by 81.7% after receiving a Complete Response Letter from the U.S. FDA.

Portfolio Pulse from Lisa Levin

August 10, 2023 | 12:06 pm

CPRI

TPR

Tapestry, Inc. has announced a definitive agreement to acquire Capri Holdings Limited for $57 per share in cash. This acquisition will likely have significant implications for both companies.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 10:46 am

CPRI

TPR

Capri Holdings Ltd (CPRI), the owner of Michael Kors, Jimmy Choo, and Versace, is reportedly in talks to be acquired by Tapestry Inc (TPR), the owner of Coach. The deal, which has been under discussion for months, could be announced soon and is expected to be valued in the high single-digit billions. Capri's shares jumped by 33.55% in premarket trading following the news.

Portfolio Pulse from Shivani Kumaresan

August 10, 2023 | 10:12 am

NVO

Novo Nordisk has agreed to acquire Inversago Pharma, a private Montreal-based developer of CB1 receptor-based therapies for obesity, diabetes, and metabolic disorders, for up to $1.075B, contingent on certain development and commercial milestones.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 10:02 am