Streetbeat News

Acquisitions Mergers

NEWR

TPG

New Relic Inc (NEWR) has been acquired by Francisco Partners and TPG Inc (TPG) in a deal valued at approximately $6.5 billion. Following the acquisition, several analysts have downgraded NEWR's rating from Outperform to Neutral and revised their price targets. NEWR shares are currently trading at $84.04, slightly higher by 0.07%.

Portfolio Pulse from Lekha Gupta

August 04, 2023 | 9:59 am

EQRX

EQRx is set to be acquired by Revolution Medicines in an all-stock transaction, leading to a rise in EQRx's share prices.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 9:58 am

DV

DoubleVerify has reported its Q2 results and announced plans to acquire Scibids Technology. This news has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 9:57 am

AWKNF

Awakn Life Sciences Corp. (OTCQB:AWKNF) has sold its Norwegian clinics businesses as part of its business restructuring process. The company will receive a fee for the acquisition and a share of the clinics’ revenue on an ongoing basis. This marks Awakn’s exit from healthcare services and allows the company to focus on its biotech research and development programs around addiction therapeutics. Its lead program AWKN-P001 is expected to enter the Phase 3 clinical stage in the UK within this year’s fourth quarter.

Portfolio Pulse from Lara Goldstein

August 04, 2023 | 9:51 am

EQRX

RVMD

Revolution Medicines Inc (RVMD) has agreed to acquire EQRx Inc (EQRX) in an all-stock transaction that will add over $1 billion to RVMD's balance sheet. The deal is expected to close in November 2023. Post-merger, RVMD will focus on its three priority RAS-focused assets and will not advance EQRX's R&D portfolio. EQRX will wind down these programs and return the associated IP to its partners.

Portfolio Pulse from Vandana Singh

August 04, 2023 | 9:45 am

RVMD

Revolution Medicines has announced a definitive agreement to acquire EQRx in an all-stock transaction. This has led to an increase in the trading value of Revolution Medicines' shares.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 9:43 am

GPK

Graphic Packaging Holding reported worse-than-expected Q2 financial results, causing its shares to trade lower. The company also announced plans to acquire Bell Incorporated.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 9:42 am

NNDM

SSYS

Nano Dimension's special partial tender offer for Stratasys shares has expired as the offer condition was not met. Nano, which owns 14.1% of Stratasys, had offered to purchase between 31.9% and 36.9% of Stratasys shares for $25.00 per share. However, the Stratasys Board's refusal to redeem its shareholder rights plan ('poison pill') prevented Nano from completing the offer. Nano has now withdrawn its director nominees for the Stratasys Board and is considering selling its existing 14.1% stake in Stratasys.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 9:41 am

BNBUSD

Binance Japan is set to fully launch in August and plans to initially list 34 tokens, including BNB (CRYPTO: BNB), marking its debut in Japan. The company confirmed that new Japanese customers would have access to services such as spot trading, Earn products, and its NFT marketplace. This move follows warnings issued by the Japan Financial Services Agency (JFSA) in 2021 against Binance for operating in the country without registration.

Portfolio Pulse from Murtuza Merchant

August 04, 2023 | 9:33 am

AMSC

ANET

AUDC

NKLA

RYTM

Despite a general downturn in the US stock market, several companies saw significant gains. American Superconductor Corporation (AMSC) jumped 49% amid claims of a new superconductor. Nikola Corporation (NKLA) gained 21% after being awarded an additional $16.3 million for hydrogen refueling stations. Rhythm Pharmaceuticals (RYTM), Arista Networks (ANET), and AudioCodes (AUDC) all saw gains following strong quarterly sales or better-than-expected results. EQRx (EQRX) gained 14.3% following an announcement of its acquisition by Revolution Medicines. Other companies such as Emergent BioSolutions (EBS), Proterra (PTRA), Great Lakes Dredge & Dock Corporation (GLDD), Mativ Holdings (MATV), Douglas Dynamics (PLOW), TETRA Technologies (TTI), Varonis Systems (VRNS), HUTCHMED (HCM), SunCoke Energy (SXC), Rigetti Computing (RGTI), Oshkosh Corporation (OSK), Caterpillar (CAT), and Global Payments (GPN) also recorded gains.

Portfolio Pulse from Lisa Levin

August 04, 2023 | 9:30 am