Streetbeat News

Acquisitions Mergers

DOX

Amdocs has updated its FY23 guidance, expecting non-GAAP diluted EPS to increase by 11%-12% YoY and revenue to rise by 6.3%-7.1% YoY. The company's full-year fiscal 2023 revenue guidance incorporates an expected unfavorable impact from foreign currency fluctuations of approximately 0.9% YoY. The acquisition of TEOCO's service assurance business is expected to have a neutral impact on Amdocs' non-GAAP diluted earnings per share for the full fiscal year 2023.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 12:25 pm

PACB

PacBio has entered into an agreement to acquire Apton Biosystems in an all-stock transaction valued at up to $110 million. The deal includes an upfront consideration of $85 million in PacBio common stock and an additional $25 million payable upon achieving $50 million in revenue from a high throughput sequencer using Apton's technology.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:23 pm

VET

Vermilion Energy (NYSE:VET) reported Q2 2023 FFO of $1.10 per share, a 1% increase from the previous quarter. The increase is attributed to the acquisition of additional working interest in the Corrib Natural Gas Project in Ireland and new production from Mica Montney, United States, and southeast Saskatchewan assets. However, the disposition of higher-cost assets in southeast Saskatchewan and fire-related downtime in West Central Alberta partially offset the increase.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:22 pm

JPM

SPY

Jamie Dimon, CEO of JPMorgan Chase, stated on CNBC that the bank does not have an appetite for more deals at the moment.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:10 pm

CDLX

Needham analyst Kyle Peterson reiterated a Buy rating on Cardlytics, Inc (NASDAQ:CDLX), raising the price target to $19 from $10. CDLX's 2Q23 results exceeded expectations, and the company's relationships with top US banks are seen as key to its targeted marketing success. Peterson raised FY23 and FY24 revenue estimates and expects the company's acquisitions to diversify its MAU base and advertiser vertical mix.

Portfolio Pulse from Nabaparna Bhattacharya

August 04, 2023 | 12:00 pm

MA

V

Visa Inc. faces political uncertainty in its expansion efforts in China due to recent payment collaborations between U.S. and Chinese companies. Priority Technology Holdings has completed its acquisition of Plastiq, strengthening Visa's position in the payment processing industry. EastWest has launched the EastWest Pay App and an enhanced version of their Visa Platinum Card in the Philippines.

Portfolio Pulse from Mohit Manghnani

August 04, 2023 | 11:52 am

HRVSF

TCNNF

Story Cannabis Company has announced the acquisition of four vertically integrated cannabis licenses from Devi Holdings Inc. The licenses are currently branded under the name Nature’s Medicines and are located in Arizona. The acquisition is part of Story Cannabis's strategic plan to grow quickly through the purchase or expansion of vertically integrated cannabis assets in target states. The company's portfolio in Arizona now includes operations of 11 retail locations and two cultivation facilities.

Portfolio Pulse from Maureen Meehan

August 04, 2023 | 11:45 am

MANU

Discussions about the takeover of Manchester United are still ongoing after nearly nine months. The Glazers are continuing to talk with several parties. This news has caused a spike in Manchester United's shares.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:41 am

MEDS

TRxADE Health, Inc. (NASDAQ:MEDS) announced the closing of the acquisition of Superlatus, Inc. on Monday. As a result, MEDS shares are up by more than 45% on heavy trading volume. The company will report its Q2 financial results on Aug. 14.

Portfolio Pulse from Erica Kollmann

August 04, 2023 | 11:27 am

AAL

BA

EADSY

American Airlines (AAL) is reportedly in talks with Airbus (EADSY) and Boeing (BA) for a potential purchase of 100 jets, according to Bloomberg.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:24 am