Streetbeat News

Acquisitions Mergers

ATVI

MSFT

PARA

XRPUSD

Charles Gasparino will interview former DOJ Antitrust Chief Makan Delrahim on the Microsoft-Activision Blizzard deal, potential acquisition of Paramount, and the Ripple case.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 7:54 pm

RIVN

Former top executive of Porsche Cars North America, Kjell Gruner, is reportedly moving to Rivian Automotive, a U.S. electric vehicle startup. Gruner's experience in marketing, operations, and strategy could be beneficial for Rivian.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 7:25 pm

EQT

Stephens analyst Mike Scialla has reiterated an Equal-Weight rating on EQT Corporation with a $36 price target. The analyst has lowered the 2Q CFPS estimate by 44% to $0.79, primarily due to lower projected unhedged realized natural gas and NGL prices. The 2Q23 EBITDA estimate has been updated to $359 million, 7% below Street consensus. No share repurchases are expected during the quarter due to forecasted outspending of $164 million. The Tug Hill acquisition is expected to close near mid-year 2023, pending final SEC approval.

Portfolio Pulse from Nabaparna Bhattacharya

July 13, 2023 | 6:39 pm

IMAX

Imax Corp (NYSE:IMAX) plans to acquire 96.3 million shares in its Hong Kong-listed subsidiary, IMAX China, for around $124 million. The deal is expected to unlock annual public company cost savings of around $2 million and tax efficiencies. Analysts from Benchmark, Wedbush, and Rosenblatt maintain positive outlooks for IMAX, with price targets of $23, $26, and $27 respectively. IMAX expects significant growth in FY23, and analysts believe the company is well-positioned to benefit from the theatrical rebound in 2023.

Portfolio Pulse from Anusuya Lahiri

July 13, 2023 | 6:29 pm

GREE

RealDefense has acquired Support.com from Greenidge, leading to a rise in Greenidge's stock.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 6:24 pm

ATVI

MSFT

SPY

The Federal Trade Commission (FTC) has requested an appeals court to halt the Microsoft-Activision deal. The FTC is concerned about the potential anti-competitive effects of the merger.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 5:20 pm

GREE

RealDefense, a company specializing in consumer security, privacy, and productivity software, has acquired Support.com from Greenidge Generation Holdings, Inc. (NASDAQ:GREE). The acquisition is part of RealDefense's M&A strategy to expand its service offerings. The deal includes Support.com's customer base, call center operations, and its remote IT support technology platform and services businesses.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 5:03 pm

ATVI

MSFT

SPY

The U.S. Appeals Court has opened a docket on the Federal Trade Commission's (FTC) effort to overturn its loss in the fight against Microsoft's plan to acquire Activision. This development could potentially delay or disrupt the acquisition process.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 4:37 pm

PEP

SPY

PepsiCo's acquisition of Quaker Oats, which included the Gatorade brand, in 2000 has proven to be a profitable investment for shareholders. A $1,000 investment in PepsiCo at the time of the acquisition would now be worth $4,086.26, a return of 308.6% over the last 22+ years. This outperformed the broader stock market, including the SPDR S&P 500 ETF, which would have returned 234.6%.

Portfolio Pulse from Chris Katje

July 13, 2023 | 4:36 pm

APDN

Applied DNA Sciences Inc. has announced the acquisition of Spindle Biotech, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 4:28 pm