Streetbeat News

Acquisitions Mergers

DISH

SATS

DISH Network Corporation and EchoStar Corporation have announced an all-stock merger. EchoStar shareholders will receive 2.85 shares of DISH Network Class A stock per EchoStar share.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 11:34 am

IRWD

Ironwood Pharmaceuticals has increased its FY23 revenue outlook from $420M-$435M to $435M-$450M, surpassing the $427.88M estimate. The company also expects U.S. LINZESS net sales growth to be between 6% to 8%, up from the previous 3% to 5%. However, the adjusted EBITDA is expected to be around -$900 million, including a one-time charge of approximately $1.1 billion from the acquisition of VectivBio.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 11:22 am

ALGM

Allegro MicroSystems has signed an agreement to acquire Crocus Technology for $420M in cash. The acquisition will be funded through a combination of cash on hand and new debt issuance. The transaction is expected to close by the end of 2023.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 10:10 am

AAPL

SSNLF

Apple Inc. and Samsung Electronics Co. are planning to invest in Arm Ltd. as the semiconductor company prepares for an initial public offering (IPO) in September. The investment is expected to strengthen the companies' relationships with Arm and secure their access to its chip designs.

Portfolio Pulse from Charles Gross

August 08, 2023 | 10:06 am

Carlyle (NASDAQ:CG) is set to acquire a significant minority stake in engineering services firm Quest Global. The equity for this transaction will come from funds managed by Carlyle Asia Partners. Current investors Bain Capital and Advent International will exit, and Quest Global will repurchase its company shares. Ajit Prabhu, CEO of Quest Global, will acquire an additional stake in the company.

Portfolio Pulse from Charles Gross

August 08, 2023 | 9:15 am

BYND

LLY

PARA

TTWO

UPS

United Parcel Service (UPS), Paramount Global (PARA), Take-Two Interactive Software (TTWO), Beyond Meat (BYND), and Eli Lilly (LLY) are expected to be in focus for investors. UPS is expected to post earnings of $2.50 per share on revenue of $23.11 billion. Paramount Global reported better-than-expected Q2 results and announced the sale of Simon & Schuster to KKR for $1.62 billion. Take-Two Interactive is expected to report earnings of 37 cents per share on revenue of $1.21 billion. Beyond Meat reported disappointing Q2 results and issued a weak revenue forecast for FY23. Eli Lilly is expected to report earnings of $1.99 per share on revenue of $7.58 billion.

Portfolio Pulse from Lisa Levin

August 08, 2023 | 8:18 am

CPB

LLY

TSN

TTWO

UPS

The CNN Money Fear and Greed index showed an improvement in overall sentiment among U.S. investors on Monday. The Dow Jones added more than 400 points, while the S&P 500 and Nasdaq Composite also rose. Tyson Foods' shares fell 3.8% after reporting worse-than-expected Q3 results. Campbell Soup agreed to acquire Sovos Brands for $23 per share. Investors are awaiting earnings results from United Parcel Service, Take-Two Interactive Software, and Eli Lilly and Company.

Portfolio Pulse from Lisa Levin

August 08, 2023 | 7:06 am

DISH

SATS

Charlie Ergen is reportedly close to merging Dish Network and EchoStar to build a nationwide wireless network, according to The Wall Street Journal.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 5:01 am

ACCD

DKNG

GENI

IONS

PACB

QSI

RXRX

TXG

Ark Invest, led by Cathie Wood, made significant trades on August 7, 2023. The most notable was the acquisition of shares in Pacific Biosciences of California (PACB) following its impressive Q2 financial results. Ark also reduced its exposure to DraftKings (DKNG) and Genius Sports (GENI), despite DraftKings' strong Q2 results. Other trades included buying shares of Recursion Pharmaceuticals (RXRX), Accolade Inc (ACCD), and Quantum (QSI), and selling shares of Ionis Pharmaceuticals (IONS) and 10x Genomics (TXG).

Portfolio Pulse from Benzinga Neuro

August 08, 2023 | 2:00 am

BUD

TLRY

Tilray Brands, Inc. (NASDAQ:TLRY) has announced a definitive agreement to acquire eight beer and beverage brands from Anheuser-Busch (NYSE:BUD). This acquisition will make Tilray the 5th largest craft beer business in the U.S. The deal includes current employees, breweries, and brewpubs associated with these brands. The transaction, to be paid in all cash, is expected to close in 2023.

Portfolio Pulse from Maureen Meehan

August 07, 2023 | 11:03 pm