Streetbeat News

Acquisitions Mergers

ATVI

MSFT

Benchmark analyst Mike Hickey has maintained a Buy rating for Electronic Arts Inc (EA) and raised the price target from $150 to $159. Hickey predicts medium-term growth for EA, driven by the success of Star Wars Jedi Survivor and a strong product cycle. He also suggests that EA could be a prime candidate for acquisition if Microsoft's purchase of Activision Blizzard leads to further consolidation in the gaming industry.

Portfolio Pulse from Anusuya Lahiri

July 25, 2023 | 7:55 pm

BANC

PACW

Banc of California, Inc. (BANC) and PacWest (PACW) are reportedly in advanced talks to merge, aiming to strengthen their businesses following the banking crisis earlier this year. The news has led to a surge in BANC shares and a decline in PACW shares. Both companies are set to report their Q2 earnings after the market close.

Portfolio Pulse from Ryan Gustafson

July 25, 2023 | 7:34 pm

ATVI

MSFT

Activision's CFO has stated that the merger with Microsoft will help the company compete in an uncertain environment by providing faster access to specialized talent in areas such as Artificial Intelligence and Machine Learning.

Portfolio Pulse from Happy Mohamed

July 25, 2023 | 7:05 pm

ATVI

MSFT

Activision Blizzard (NASDAQ:ATVI) reported a 50% YoY growth in net bookings in Q2, with record bookings and operating income for its Blizzard segment. The company's CFO, Armin Zerza, attributed the growth to the company's focus on delivering compelling and frequent content. The King segment saw a 9% YoY revenue increase, led by the Candy Crush franchise. The Blizzard segment saw a 160% YoY revenue increase and tripled its operating income, largely due to the launch of Diablo IV. The pending acquisition of Activision Blizzard by Microsoft Corp (NASDAQ:MSFT) continues, with a recent rejection of a challenge by the Federal Trade Commission.

Portfolio Pulse from Chris Katje

July 25, 2023 | 7:04 pm

PACW

PacWest Bancorp is reportedly in advanced talks to merge with Banc of California, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 6:50 pm

BANC

Banc of California is reportedly in talks to merge with PacWest, according to a Wall Street Journal report. This news has led to an increase in Banc of California's share prices.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 6:43 pm

BANC

PACW

Banc of California and PacWest Bancorp are reportedly in advanced talks to merge, according to the Wall Street Journal. No further details about the potential deal have been disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 6:41 pm

EVC

Forbes Newsletter has purchased Entravision Communications Corporation (EVC).

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 6:38 pm

BLPH

HGEN

INPX

STOK

U.S. stocks traded higher with the Nasdaq Composite gaining more than 100 points. Verizon Communications reported better-than-expected earnings for its second quarter, despite a sales decline of 3.5% YoY. Inpixon shares shot up 87% after the company agreed to merge with XTI Aircraft Company. Humanigen shares dropped 76% as it anticipates bankruptcy. Bellerophon Therapeutics shares were down 39% after the company received a delisting notice. Stoke Therapeutics was down 33% after announcing new safety and efficacy data.

Portfolio Pulse from Lisa Levin

July 25, 2023 | 6:31 pm

ALK

AURC

ELBM

HGEN

INPX

The article lists the stocks that gained and lost the most in Tuesday's mid-day session. Among the gainers, Aurora Acquisition Corp. (AURC) jumped 192% to $30.54, Inpixon (INPX) gained 117% to $0.33 after agreeing to merge with XTI Aircraft Company, and Electra Battery Materials Corporation (ELBM) shot up 71.5% to $2.11 after extending and expanding its battery grade cobalt supply agreement with LG Energy Solution. Among the losers, Humanigen, Inc. (HGEN) fell 75.1% to $0.0476 as it anticipates not being able to continue as a going concern and is exploring all restructuring options, including bankruptcy, and Alaska Air Group, Inc. (ALK) fell 9.3% to $48.38 after reporting Q2 financial results and issuing Q3 and FY23 guidance.

Portfolio Pulse from Lisa Levin

July 25, 2023 | 5:11 pm