Streetbeat News

Acquisitions Mergers

BAC

BANC

GOOG

INTC

JPM

META

MSFT

The Dow Jones broke a 13-day winning streak, but ended the week up 0.65%. The Fed raised interest rates to 5.25%-5.5%, the highest level since 2001. Big Tech companies released earnings, with Microsoft (MSFT) shares falling due to slowed Azure growth, Alphabet (GOOG) shares rising after beating revenue estimates, Meta (META) shares increasing after beating earnings estimates, and Intel (INTC) shares climbing despite a revenue drop. Banc of California (BANC) announced a merger with PacWest Bancorp (PACW), causing its shares to soar. Bank of America (BAC) and JP Morgan Chase (JPM) shares slid after a proposal to raise capital requirements for big banks.

Portfolio Pulse from Natan Ponieman

July 28, 2023 | 8:06 pm

SGML

Sigma Lithium's shares are experiencing an increase in value due to reports of potential Mergers and Acquisitions (M&A) interest.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 5:47 pm

VALE

Vale SA (NYSE:VALE) has announced two separate deals to sell a 13% stake in its base metals business for a total of $3.4 billion. The first agreement is with Manara Minerals, a joint venture between Ma'aden and Saudi Arabia's Public Investment Fund. The second agreement is with investment firm Engine No. 1. These strategic collaborations will accelerate Vale Base Metals Limited's expected capital program and boost production. The transaction is expected to close by Q1 FY24.

Portfolio Pulse from Lekha Gupta

July 28, 2023 | 5:44 pm

IONQ

Traders are circulating James Altuchers' Buyout Trader Newsletter recommending to buy IonQ, a leader in quantum computing, with possible gains of 765%. The recommendation is based on an impending buyout of the company.

Portfolio Pulse from Happy Mohamed

July 28, 2023 | 4:57 pm

AMZN

TWLO

Amazon has purchased 1.77 million shares in Twilio, causing Twilio's stock to trade higher. This follows the announcement of an extended strategic collaboration between Amazon Web Services (AWS) and Twilio, which will provide Twilio customers with advanced AI capabilities. Twilio's session volume also increased to 8 million, compared to the 100-day average of 5 million.

Portfolio Pulse from Anusuya Lahiri

July 28, 2023 | 4:48 pm

DSGN

LRMR

PTCT

Shares of companies with Friedrich's Ataxia candidates are seeing an increase in their stock prices following Biogen's announcement of acquiring Reata.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 4:42 pm

BIIB

Biogen has announced the acquisition of Reata Pharmaceuticals, leading to a rise in Biogen's share prices.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 4:03 pm

BIIB

DSGN

LRMR

RETA

SLDB

Biogen Inc has agreed to acquire Reata Pharmaceuticals Inc for $172.50 per share in cash, reflecting an enterprise value of approximately $7.3 billion. Analysts from William Blair view the acquisition as fitting Biogen's acquisition goals of de-risked, value-added and accretive assets. They also acknowledged potential competition from other clinical-stage programs, including Larimar Therapeutics Inc, Design Therapeutics Inc, and Solid Biosciences Inc. The deal, if finalized in Q4, would consume the majority of Biogen's $10 billion allocation for corporate acquisitions.

Portfolio Pulse from Vandana Singh

July 28, 2023 | 3:56 pm

BAC

TSLA

Sigma Lithium, a Brazilian lithium mining company, has been approached by funds and multinationals for potential M&A, coordinated by Bank of America. Interested parties include Chinese Cmoc, Saudi Arabia's sovereign wealth fund PIF, and possibly Tesla. Sigma Lithium is listed on the Canadian TSXV exchange and Nasdaq, with a market value of $4.4 billion.

Portfolio Pulse from Happy Mohamed

July 28, 2023 | 3:42 pm

BIIB

RETA

Biogen (NASDAQ:BIIB) has announced its plan to acquire Reata Pharmaceuticals (NASDAQ:RETA) for $7.30 billion in cash in exchange for RETA stock. The acquisition is expected to be completed in Q4 of 2023.

Portfolio Pulse from Benzinga Insights

July 28, 2023 | 3:10 pm