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Acquisitions Mergers

AAPL

AMC

The S&P 500 and the Dow Jones Industrial Average ended the week positively, while the Nasdaq fell. AMC Entertainment Holdings Inc. (AMC) shares surged after a court blocked the company's move to convert its APE preferred units into common stock. Philip Morris International Inc. (PM) is set to acquire Israeli med-tech company Syqe Medical for $650 million. Despite weak demand and potential delays for the iPhone 15A, a BofA Securities analyst maintains a neutral rating on Apple Inc. (AAPL), raising the price target from $190 to $210. Shares of AT&T Inc. (T), Verizon Communication Inc. (VZ), Telephone and Data Systems, Inc. (TDS), and Frontier Communication Parent, Inc. (FYBR) plummeted following a Wall Street Journal investigation. Jim Cramer of CNBC's Mad Money has turned skeptical about Ford Motor Co. (F) after its 17% price cut for the F-150 Lightning electric pickup.

Portfolio Pulse from Michael Cohen

July 22, 2023 | 1:32 pm

PMGM

Priveterra Acquisition Corp. (NASDAQ:PMGM) has completed its business combination with AEON Biopharma, Inc., a Phase 3 stage-ready biopharmaceutical company. The combined company will be named AEON Biopharma, Inc. and will commence trading on NYSE under the ticker symbols 'AEON' and 'AEON WS' on July 24, 2023. Priveterra's CEO, Robert Palmisano, will join AEON's board as a Director.

Portfolio Pulse from Happy Mohamed

July 21, 2023 | 8:28 pm

BRLI

Brilliant Acquisition Corporation has extended the deadline for its initial business combination with Nukkleus, Inc. to August 23, 2023. This extension was approved by Brilliant's shareholders and allows for further extensions up to December 23, 2023. Nukkleus has deposited $32,300 in Brilliant's trust account as additional interest on the proceeds in the trust account.

Portfolio Pulse from Happy Mohamed

July 21, 2023 | 8:19 pm

BAC

MSFT

NFLX

SCHW

TSLA

XOM

The Dow Jones marked a 10-day winning streak, driven by positive quarterly results from defensive stocks. The Nasdaq Composite, however, was down 0.42% due to disappointing results from Netflix and Tesla. Tesla's stock fell almost 10% after CEO Elon Musk's conference call failed to provide key details about future developments. Netflix's shares also fell despite better-than-expected earnings per share. Major banks, including Bank of America, Morgan Stanley, and Charles Schwab, showed resilience with positive quarterly results. ExxonMobil announced plans to mine lithium, indicating a diversification into the EV industry. The $69 billion merger of Microsoft and Activision Blizzard moved forward after the FTC paused an antitrust lawsuit.

Portfolio Pulse from Natan Ponieman

July 21, 2023 | 8:12 pm

VHNA

VHNAU

Vahanna Tech Edge Acquisition I Corp. (VHNA, VHNAU) has announced an extension of the deadline to complete its business combination with Roadzen, Inc. from July 26, 2023 to August 26, 2023. This is the third one-month extension permitted under Vahanna's governing documents. The sponsor, Vahanna LLC, intends to deposit $660,330 into Vahanna's trust account in connection with the extension. Post completion, Vahanna will be renamed as 'Roadzen Inc.'

Portfolio Pulse from Happy Mohamed

July 21, 2023 | 8:01 pm

TSLA

Twitter plans to subpoena Senator Elizabeth Warren as part of its ongoing legal dispute with the Federal Trade Commission (FTC). This follows Warren's call for an investigation into potential conflicts of interest involving Elon Musk's roles as CEO of both Twitter and Tesla Inc. Warren's concerns stem from Musk's decision to buy Twitter in a $44-billion deal, funded in part by the sale of Tesla shares. Twitter's subpoena calls for the production of all communications between Warren and the FTC, as well as with the Securities and Exchange Commission, relating to Twitter or Musk.

Portfolio Pulse from AJ Fabino

July 21, 2023 | 6:16 pm

JPM

JP Morgan Chase & Co. plans to expand its online bank Chase to Germany and other European Union countries. This move will increase competition for European rivals in a crowded market. The company entered the British market with a digital-only retail offering in 2021, marking its first foray outside the U.S.

Portfolio Pulse from Nabaparna Bhattacharya

July 21, 2023 | 4:44 pm

ATVI

EWU

MSFT

The UK's Competition Appeal Tribunal has granted an adjournment application in the case of Microsoft's acquisition of Activision. The decision could potentially delay the completion of the deal.

Portfolio Pulse from Happy Mohamed

July 21, 2023 | 4:15 pm

THRN

Thorne Healthtech Inc is reportedly working with CG Sawaya Partners to explore a potential sale, according to sources cited by Reuters.

Portfolio Pulse from Happy Mohamed

July 21, 2023 | 4:03 pm

ACU

Acme United Corporation (ACU) reported a 6% YoY decline in Q2 FY23 net revenue to $53.336 million, missing the analyst consensus of $58.480 million. However, EPS of $0.96 beat the analyst consensus of $0.52. The company is actively evaluating potential acquisitions. ACU shares are trading higher by 7.16% at $26.79.

Portfolio Pulse from Nabaparna Bhattacharya

July 21, 2023 | 3:47 pm