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Acquisitions Mergers

AMZN

DISH

LLY

MSFT

SATS

The S&P 500 and Nasdaq 100 fell on Tuesday, with the S&P 500 Banks index losing 2.5% year-to-date. Moody's downgraded 10 small- to mid-sized lenders, contributing to the decline. Eli Lilly and DISH Network saw share increases after positive Q2 results and a merger announcement, respectively. The CBOE Volatility Index rose 1.4% ahead of upcoming CPI and PPI data releases.

Portfolio Pulse from Lisa Levin

August 09, 2023 | 9:41 am

ARKF

ARKK

ARKW

DKNG

PACB

PLTR

ROKU

Ark Invest, led by Cathie Wood, purchased nearly $14 million worth of shares in Palantir Technologies Inc (NYSE:PLTR) following the company's Q2 earnings report. The purchase was made through ARK Innovation ETF (NYSE:ARKK), ARK Next Generation Internet ETF (NYSE:ARKW), and Ark Fintech Innovation ETF (NYSE:ARKF). Ark Invest also bought shares of Pacific Biosciences Of California (NASDAQ:PACB) and sold shares of DraftKings Inc (NASDAQ:DKNG) and Roku Inc (NASDAQ:ROKU).

Portfolio Pulse from Benzinga Neuro

August 09, 2023 | 3:03 am

PYPL

TSLA

Neuralink, co-founded by Elon Musk, has received a $280 million investment in a Series D funding round led by Founders Fund, a venture capital firm co-founded by Peter Thiel. This comes months after Neuralink received FDA clearance to begin trials for brain chips implanted into humans. The company, which was valued at $5 billion in June, did not disclose what the funds would be used for.

Portfolio Pulse from Chris Katje

August 08, 2023 | 10:46 pm

SLRX

Salarius Pharmaceuticals, Inc. (NASDAQ:SLRX) has announced plans to explore strategic alternatives and implement measures to extend its resources. The company has retained Canaccord Genuity, LLC to lead a comprehensive review of strategic alternatives including an acquisition, merger, reverse merger, divestiture of assets, licensing or other strategic transactions. Salarius is also implementing a cost-savings plan that includes a reduction in workforce by over 50% of its positions.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 9:59 pm

NNI

GRNE Solar, a solar engineering, procurement and construction (EPC) firm, has rebranded as Nelnet Renewable Energy following its acquisition by Nelnet, Inc. (NYSE:NNI) in 2022. The company's offerings remain unchanged, and it continues to provide commercial and residential solar energy solutions across 13 states. Nelnet Renewable Energy also offers a solar tax equity co-investment platform, a sustainability literacy platform for educational institutions, and a venture capital investment team focused on renewable energy innovation.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 9:56 pm

RWLK

ReWalk Robotics Ltd. (NASDAQ:RWLK) has announced a definitive agreement to acquire AlterG, Inc., a provider of Anti-Gravity systems for use in physical and neurological rehabilitation. The acquisition, costing approximately $19 million, is expected to expand ReWalk's customer-facing capabilities and advance future growth opportunities. AlterG generated revenue of $20 million in fiscal year 2022 with positive operating profit. The transaction is expected to close on August 11, 2023.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 9:47 pm

KKR

SNV

Global investment firm KKR has acquired a $373 million portfolio of prime auto loans from Synovus Bank. This aligns with KKR's asset-based finance (ABF) strategy, which focuses on privately originated and negotiated credit investments backed by large and diversified pools of financial and hard assets. KKR has made 65 ABF investments globally since 2016 and has approximately $42 billion in ABF assets under management.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 9:39 pm

CFGW

GBCI

Glacier Bancorp (GBCI) has signed a definitive agreement to acquire Community Financial Group (CFGW) for approximately $80.6 million. As of June 30, 2023, CFGW had total assets of $754 million, total loans of $475 million, and total deposits of $609 million. CFGW shareholders will receive 1.0931 shares of Glacier stock for each CFGW share.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 9:35 pm

LNW

SCPL

Light & Wonder, Inc. (LNW) has reached an agreement to acquire the remaining 17% equity interest in SciPlay Corporation (SCPL) that it does not currently own for $22.95 per share in an all-cash transaction. The transaction has been approved by the Board of Directors of both companies and is expected to close during the fourth quarter of 2023. Following the transaction, SciPlay will become a wholly-owned subsidiary of Light & Wonder.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 8:41 pm

DISH

SATS

EchoStar Corp (SATS) and DISH Network Corp (DISH) have agreed to merge in an all-stock deal to build a nationwide wireless network. EchoStar shareholders will receive a 12.9% premium and will own about 31% of the combined company, while DISH Network shareholders will own approximately 69%. The merger will combine DISH Network's satellite technology, streaming services, and nationwide 5G network with EchoStar's satellite communications solutions. The combined company will be headquartered in Englewood, Colorado. DISH also reported Q2 revenue of $3.91 billion, slightly beating the consensus of $3.90 billion.

Portfolio Pulse from Anusuya Lahiri

August 08, 2023 | 7:47 pm