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Acquisitions Mergers

ARKF

ARKK

ARKW

GOOGL

HOOD

Ark Invest, led by Cathie Wood, has purchased 933,663 shares of Robinhood Markets, Inc. (NASDAQ:HOOD) across its three funds, ARK Innovation ETF (NYSE:ARKK), Ark Fintech Innovation ETF (NYS: ARKF) and Ark Next Generation Internet ETF (NYSE:ARKW), totaling $10.66 million. This comes as Alphabet, Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) significantly reduced its stake in Robinhood.

Portfolio Pulse from Shanthi Rexaline

August 05, 2023 | 7:51 pm

NOVV

Nova Vision Acquisition Corp. (NOVV) has announced that its sponsor, Nova Pulsar Holdings Limited, has deposited $69,763.37 into the company's trust account. This is to extend the period for the company to complete a business combination from August 10, 2023 to September 10, 2023. The company issued a promissory note to the sponsor, which is convertible into the company's units at a price of $10.00 per unit at the closing of a business combination.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 8:02 pm

AMZN

The article discusses the growth of Amazon.com Inc (NASDAQ:AMZN) since its IPO in 1997. It highlights that an investment of $1,000 in Amazon at the time of its IPO would be worth $1,896,151.68 today. The company has grown through new product offerings and acquisitions, and could see further growth in the artificial intelligence sector.

Portfolio Pulse from Chris Katje

August 04, 2023 | 7:37 pm

MSFT

Elon Musk's new artificial intelligence company, X.ai, has taken over the AI.com domain, which previously redirected to the ChatGPT web interface. The team for X.ai includes members from OpenAI, Google Research, Microsoft Research, and DeepMind. Microsoft Corporation (NASDAQ:MSFT) was an early investor in OpenAI and announced a $10 billion subsequent investment in the AI company in January. The rivalry between Musk and OpenAI could continue to be a significant storyline in the AI industry.

Portfolio Pulse from Chris Katje

August 04, 2023 | 7:08 pm

BLD

Truist Securities analyst Keith Hughes reiterated a Buy rating on TopBuild Corp. (NYSE:BLD), raising the price target to $340 from $256. The company recently reported Q2 results, beating earnings estimates and raising EBITDA guidance. The analyst also highlighted the company's growth in the single-family market and commercial/industrial segment. BLD recently announced an agreement to purchase Specialty Products & Insulation (SPI) for $960 million.

Portfolio Pulse from Nabaparna Bhattacharya

August 04, 2023 | 6:31 pm

HEI

Heico Corp (NYSE:HEI) has completed its largest-ever acquisition, buying Wencor Group for $2.05 billion. The deal is expected to be accretive to Heico's earnings within a year. Heico anticipates Wencor to generate adjusted proforma revenues of around $724 million and EBITDA of about $153 million in 2023. The company also expects to realize estimated tax benefits of about $75 million from the acquisition through FY38.

Portfolio Pulse from Lekha Gupta

August 04, 2023 | 5:48 pm

PACB

Pacific Biosciences Of California reported a Q2 earnings beat, which led to a rise in its share price. The company also announced plans to acquire Apton Biosystems.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 4:57 pm

DIS

Serial entrepreneur Gary Vee is among the investors backing the revival of SlamBall, a sport combining elements of basketball and football with trampolines. The recent Series A investors also include IA Sports Venture, Eberg Capital, David Blitzer, David Adelman, Michael Rubin, Blake Griffin, Tom Penn, Kevin Nagle, and Accelerate Sports. SlamBall is set for a comeback in 2023, with a two-year television rights deal with ESPN, a unit of The Walt Disney Company. The sport's revival aims to expand beyond its previous state, with long-term plans including more tournaments in the US and international markets, and potentially launching SlamBall teams as franchises.

Portfolio Pulse from Chris Katje

August 04, 2023 | 4:31 pm

GM

General Motors Co (NYSE:GM) has appointed Jess Bala, former director of global product planning and product strategy at Cadillac, as the managing director of its Australia and New Zealand division, effective from September 1, 2023. Bala will replace Marc Ebolo and will lead operations including Isuzu New Zealand, GM specialty vehicles, and Chevrolet racing. Bala has over 15 years of experience in implementing product strategies, including the introduction and positioning of electric vehicles.

Portfolio Pulse from Lekha Gupta

August 04, 2023 | 3:41 pm

MF

Missfresh has announced entry of share purchase agreements for financing and business acquisition, leading to a rise in its stock prices.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 3:35 pm