Streetbeat News

Acquisitions Mergers

NDAQ

Nasdaq, Inc. (NDAQ) reported a 4% Y/Y increase in Q2 revenue to $925 million, beating the consensus of $914.9 million. Adjusted EPS of $0.71 per share, up 3% Y/Y, also beat the Street view of $0.66. The company declared a regular quarterly dividend per share of $0.22. Nasdaq also disclosed an agreement to acquire Adenza from Thoma Bravo for $10.5 billion in cash and common shares. The company updated its 2023 non-GAAP operating expense guidance to $1.785 billion-$1.815 billion.

Portfolio Pulse from Lekha Gupta

July 19, 2023 | 1:29 pm

LUNAUSD

Terraform Labs has appointed Chris Amani as interim CEO amid ongoing legal troubles of its co-founder, Do Kwon. Amani plans to create applications with 'real utility' and maintain normal operations despite recent setbacks. Kwon, facing fraud allegations related to the downfall of TerraUSD and Luna cryptocurrencies, remains the majority shareholder of Terraform Labs, owning 92% of the company's shares.

Portfolio Pulse from Murtuza Merchant

July 19, 2023 | 1:16 pm

META

Meta Platforms, formerly Facebook, has scaled back its ambitions for AR glasses. The company's deal with British firm Plessey to develop augmented reality displays has not been successful, with development stalling and issues with brightness and manufacturing defects. Meta has decided to abandon Plessey's microLED tech in favor of an older display technology, liquid crystal on silicon (LCoS). This decision, among others, will reduce the competitive edge that the AR glasses have over existing AR headsets like Microsoft’s HoloLens.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 1:06 pm

DGX

KEYS

LYV

On CNBC's 'Halftime Report Final Trades', Jason Snipe of Odyssey Capital Advisors recommended Quest Diagnostics (DGX), Stephanie Link of Hightower recommended Keysight Technologies (KEYS), and Joshua Brown of Ritholtz Wealth Management recommended Live Nation Entertainment (LYV). DGX recently launched a novel prostate cancer test, KEYS announced its intention to acquire ESI Group SA, and LYV bought a majority interest in Páramo Presenta in Colombia.

Portfolio Pulse from Lisa Levin

July 19, 2023 | 12:58 pm

ATVI

MSFT

Microsoft and Activision have extended the deadline to close their deal to October 18, according to Bloomberg.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 12:40 pm

ATVI

MSFT

Microsoft and Activision Blizzard have extended the deadline to close their merger deal to October 18. In return for a higher termination fee, new commercial arrangements have been made. Additionally, Activision Blizzard's board has declared a $0.99 per share dividend.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 12:38 pm

ATVI

MSFT

Activision Blizzard has extended its merger agreement with Microsoft to October 18, 2023, in return for a higher termination fee and new commercial arrangements. Additionally, Activision Blizzard's board has declared a $0.99 per share dividend.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 12:37 pm

AVGO

VMW

VMware Inc's shares are trading higher after the UK's Competition and Markets Authority (CMA) provisionally cleared Broadcom Inc to buy the company. The proposed takeover, valued at $61 billion, was initially reviewed by the CMA to determine its impact on computer product supply competition. The deal is expected to expand VMware's portfolio and provide enterprise customers with an expanded platform to accelerate innovation and address IT infrastructure needs.

Portfolio Pulse from Adam Eckert

July 19, 2023 | 12:35 pm

FRLA

OTHER

Fortune Rise Acquisition Corporation (NASDAQ:FRLA) has received an additional one-month extension from its sponsor affiliate, Water On Demand Inc., a subsidiary of OriginClear, Inc. (OTC:OTHER), to complete its initial business combination. The extension, funded by a non-interest bearing loan, extends the deadline to August 5, 2023, and increases the pro rata portion of the funds available in the company's trust account.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 12:27 pm

PBLA

Panbela Therapeutics (NASDAQ:PBLA) has divested certain assets in its eflornithine pediatric neuroblastoma program to US WorldMeds, a Kentucky-based specialty pharmaceutical company. Under the agreement, Panbela is entitled to receive up to approximately $9.5 million non-dilutive funding in exchange for the sale of these assets. Payments will be made upon USWM's successful completion of milestones related to eflornithine's clinical development, regulatory approval, and commercial sales.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 12:22 pm