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Acquisitions Mergers

ABVC

AURC

DXF

MXL

SIMO

VICR

U.S. stocks traded mixed with the Dow Jones gaining around 50 points. Boeing Co reported better-than-expected Q2 results with an 18% YoY revenue increase to $19.75 billion. Silicon Motion Technology Corporation shares shot up 79% following a report suggesting China approval of the company's Maxlinear merger. ABVC BioPharma shares shot up 42% after signing a term sheet to advance a partnership with Zhonghui United Technology Group Co., Ltd. Vicor Corporation shares gained 52% after posting better-than-expected Q2 results. Dunxin Financial Holdings Limited shares dropped 43% after reporting pricing of $1.09 million registered direct offering. Aurora Acquisition Corp. shares were down 20% after jumping over 220% on Tuesday. MaxLinear, Inc. was down, falling 19% following a report suggesting China approval of the company's Silicon Motion merger.

Portfolio Pulse from Lisa Levin

July 26, 2023 | 4:29 pm

MXL

SIMO

Silicon Motion Technology Corporation's (NASDAQ:SIMO) shares are surging following Chinese regulatory approval of its merger with MaxLinear, Inc. (NASDAQ:MXL). The merger values the combined company at $8 billion. Silicon Motion will release its Q2 2023 financial results after the market closes on Thursday, but will not conduct its customary earnings conference call due to the transaction with MaxLinear.

Portfolio Pulse from Erica Kollmann

July 26, 2023 | 3:58 pm

CRWD

Cybersecurity firm Crowdstrike is reportedly in advanced negotiations to acquire Bionic.AI, a security posture management platform for cloud services, for between $200 million and $300 million. Bionic.AI, headquartered in Palo Alto with roots in Israel, has raised $82 million to date. Crowdstrike has been an active M&A player in Israel, having recently acquired Reposify. However, Microsoft has also been looking at Bionic.AI, which could potentially delay or derail the deal.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 3:57 pm

BANC

PACW

PacWest Bancorp (PACW) and Banc Of California (BANC) have entered into a definitive agreement to merge in an all-stock transaction. Analysts have mixed views on the merger, with some seeing it as fair but not overwhelmingly attractive, while others believe it will create a stronger combined company. The merger is expected to close in early 2024.

Portfolio Pulse from Adam Eckert

July 26, 2023 | 3:44 pm

Shares of WW International Inc (NASDAQ:WW) have surged over 200% year to date, following the company's acquisition of GLP-1 telehealth brand Sequence. Morgan Stanley analyst Lauren Schenk upgraded the rating for WW International from Equal-Weight to Overweight and raised the price target from $5 to $13. The acquisition has led to a significant increase in Sequence's market share and unique visitors, implying quick subscriber growth.

Portfolio Pulse from Priya Nigam

July 26, 2023 | 3:33 pm

TDY

Teledyne Technologies Incorporated (NYSE:TDY) reported Q2 FY23 sales growth of 5.1% YoY to $1.425 billion, beating the consensus of $1.410 billion. Adjusted EPS was $4.67, above the consensus of $4.64. The company is looking for disciplined capital deployment including acquisitions. However, TDY shares are trading lower by 4.09% at $397.75.

Portfolio Pulse from Nabaparna Bhattacharya

July 26, 2023 | 3:24 pm

BANC

PACW

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

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 3:10 pm

ABVC

ABVC BioPharma has signed a term sheet to advance a partnership with Zhonghui United Technology. The partnership involves a planned acquisition of real estate assets via an equity transfer, estimated at $7.4 million. This has led to a rise in ABVC BioPharma's share prices.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 3:05 pm

BMWYY

HMC

HYMTF

MBGYY

STLA

Major automakers including BMW, GM, Honda, Hyundai, Kia, Mercedes Benz, and Stellantis are planning to invest at least $1 billion in a joint venture to build thousands of EV chargers in the US. The group aims to add around 30,000 fast chargers in urban and highway areas over several years. The investment model mirrors Europe's Ionity charging company, formed in 2017 with funding from many of the same automakers. Some automakers, like GM, Mercedes, Ford, Nissan, and Rivian, have deals with Tesla for partial access to its Supercharger network.

Portfolio Pulse from Anusuya Lahiri

July 26, 2023 | 2:58 pm

MNK

Hedge funds, including Silver Point, are in talks with Mallinckrodt to withdraw from a $1.7 billion opioid settlement. The hedge funds are devising a plan to cut off $1 billion meant for opioid victims and seek to become Mallinckrodt's owners after a new Chapter 11 filing.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 2:56 pm