Streetbeat News

Acquisitions Mergers

MXL

SIMO

Maxlinear has terminated its merger deal with Silicon Motion, leading to a 0.58% drop in Maxlinear's share price to $33.80.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 7:46 pm

BANC

PACW

Michael Burry's Scion Capital purchased 250,000 shares of PacWest Bancorp (PACW) during the regional banking crisis in Q1 2021. Despite the bank's share prices plummeting due to deposit outflows, Burry saw an opportunity. If he held onto the shares until the recent merger news with Banc of California Inc (BANC), he would have made a profit of about 15.21%. The merger aims to leverage market opportunities, expand the customer base, and enhance product offerings.

Portfolio Pulse from AJ Fabino

July 26, 2023 | 6:55 pm

BANC

PACW

Banc of California and PacWest have announced a merger agreement, leading to a rise in the shares of community and regional bank stocks.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 6:52 pm

MOND

JMP Securities analyst Nicholas Jones reiterated a Market Outperform rating on Mondee Holdings Inc (NASDAQ:MOND) with a price target of $13. The company is leveraging AI and M&A to expand and diversify. Mondee expects to recover ~50% of its China business by the end of the year and fully recover by the end of 2024. The company's shares are trading higher by 3.5% at $8.23.

Portfolio Pulse from Shivani Kumaresan

July 26, 2023 | 6:39 pm

AMC

CMCSA

DIS

NFLX

PARA

Needham analyst Laura Martin reiterated a Hold on Netflix Inc (NASDAQ:NFLX) after its recent earnings report, highlighting key concerns raised by bears. These include higher customer acquisition costs, potential slowdown in 2024, weak ARPU, reliance on price increases for revenue growth, and the possibility of NFLX acquiring other content companies like Paramount Global (NASDAQ:PARA), AMC Entertainment Holdings, Inc (NYSE:AMC), Lionsgate, or a broadcaster. NFLX shares traded lower by 1.54% at $421.22 on the last check Wednesday.

Portfolio Pulse from Anusuya Lahiri

July 26, 2023 | 6:13 pm

JPM

PACW

JPMorgan Chase & Co. is set to acquire nearly $2 billion worth of mortgages from PacWest Bancorp, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 6:10 pm

ABVC

CTCX

DXF

INPX

MNK

SIMO

The article lists the stocks that gained and lost the most in Wednesday's mid-day session. Some of the top gainers include Silicon Motion Technology Corporation, Mallinckrodt plc, and ABVC BioPharma, Inc. due to various reasons such as merger approvals, potential bankruptcy plans, and new partnerships. On the other hand, some of the top losers include Dunxin Financial Holdings Limited, Carmell Therapeutics Corporation, and Inpixon due to reasons such as weak quarterly sales, pricing of registered direct offering, and merger agreements.

Portfolio Pulse from Lisa Levin

July 26, 2023 | 5:57 pm

CORT

The private equity backers of the Plan B morning-after pill are considering a sale of the company, potentially valued at $4 billion, according to Bloomberg. Corcept Therapeutics (CORT) is mentioned in the article.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 5:48 pm

BANC

PACW

Banc of California and PacWest have announced a merger agreement, leading to a rise in the shares of regional and community bank stocks.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 4:50 pm

LI

NIO

XPEV

Chinese EV stocks are trading higher, possibly in sympathy with XPeng, following Volkswagen's stake acquisition in the company.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 4:33 pm