Streetbeat News

Acquisitions Mergers

ADBE

EU antitrust regulators have opened an in-depth investigation into Adobe's acquisition of Figma. The regulators believe the deal may hinder Figma's potential growth as a rival to Adobe. A decision is expected by December 14.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 2:32 pm

MKTX

MarketAxess Holdings Inc (NASDAQ:MKTX) has agreed to acquire Pragma, a provider of quantitative trading technology. The deal, expected to close in Q4, will enhance MarketAxess' client offerings with AI-powered technology solutions. The acquisition will also accelerate MarketAxess' leadership in the fixed-income automation and algo space. As of June 30, 2023, MarketAxess held $505.5 million in cash and equivalents. MKTX shares are trading higher by 0.27% at $243.51.

Portfolio Pulse from Lekha Gupta

August 07, 2023 | 2:30 pm

CWH

Camping World Holdings Inc (NYSE:CWH) shares rose after the company announced the closure of its acquisition of assets and real estate of Crain RV. Truist Securities upgraded Camping World's rating from Hold to Buy and raised the price target from $28 to $35, citing healthier margins and market share in 2024 due to the company's accelerated MY23 clearance efforts.

Portfolio Pulse from Priya Nigam

August 07, 2023 | 2:26 pm

AAOI

DVA

ELAN

GHM

HLLY

LAUR

SATS

SOVO

VRTV

VTGN

VTRS

Several US stocks recorded gains on Monday, with Vistagen Therapeutics, Sovos Brands, Veritiv Corporation, Graham Corporation, Applied Optoelectronics, Holley Inc., United Homes Group, EchoStar Corporation, ModivCare Inc., Genie Energy Ltd., Manchester United plc, Laureate Education, Elanco Animal Health Incorporated, Viatris Inc., DaVita Inc., and Astronics Corporation among the big movers. The gains were driven by various factors including successful clinical trials, acquisition announcements, better-than-expected quarterly results, and analyst upgrades.

Portfolio Pulse from Lisa Levin

August 07, 2023 | 2:19 pm

DAC

EGLE

Danaos Corporation (DAC) reported a Q2 FY23 operating revenue decline of 3.8% YoY to $241.48 million, beating the consensus of $225.75 million. Operating income contracted 5.9% YoY to $147.62 million. Adjusted EPS was $7.14, above the consensus of $6.67. During the quarter, DAC acquired 1.55 million shares of Eagle Bulk Shipping Inc. (EGLE) for $68.2 million, representing a 16.7% shareholding stake. DAC shares are trading higher by 0.18% at $68.25.

Portfolio Pulse from Akanksha Bakshi

August 07, 2023 | 2:12 pm

MXL

SIMO

Silicon Motion Technology Corporation (NASDAQ:SIMO) has rejected MaxLinear, Inc.'s (NASDAQ:MXL) termination of their Merger Agreement. Silicon Motion plans to pursue remedies and reserves all rights under the Agreement, including holding MaxLinear liable for substantial damages.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 1:48 pm

AMBC

Ambac Financial Group, Inc. (NYSE:AMBC) has acquired a majority stake in Riverton Insurance Agency Corp., a New Jersey-based insurance services business. The financial terms of the deal were not disclosed. Riverton will join Ambac's insurance distribution division, Cirrata Group.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 1:46 pm

CCF

KKR

KKR & Co Inc reported Q2 2023 revenues of $3.63 billion, significantly higher than $323.4 million a year ago. The company's after-tax adjusted distributable EPS was $0.73, down 23% Y/Y, but beat the consensus of $0.71. Asset management segment revenues and net investment income in the insurance segment also beat consensus. KKR declared a dividend per share of $0.165. In July, KKR acquired Chase Corporation for approximately $1.3 billion.

Portfolio Pulse from Lekha Gupta

August 07, 2023 | 1:18 pm

SQNS

Renesas Electronics has announced its plans to acquire Sequans Communications, leading to a rise in Sequans' share prices.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 1:09 pm

PSTX

Astellas is set to invest $50 million to acquire approximately 8.8% of clinical-stage biotechnology company Poseida Therapeutics. The investment will also grant Astellas exclusive negotiation rights and first refusal for potential partnering of P-MUC1C-ALLO1, a CAR-T cell therapy product candidate for solid tumors. Astellas will also have the right to designate an observer on the Poseida Board of Directors and Poseida's scientific advisory board.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 1:03 pm