Streetbeat News

Acquisitions Mergers

LSDI

Lucy Scientific Discovery Inc (NASDAQ:LSDI) shares are trading higher after the company completed its acquisition of Wesana Health's SANA-013 assets, which are being developed for the treatment of mental health and central nervous system conditions. The company also announced the formation of Lucy Discoveries Holdings for psychedelic medicine research and development. Additionally, Lucy Scientific appointed Richard Nanula as CEO and unveiled a new sleep aid product called Twilight.

Portfolio Pulse from Adam Eckert

July 13, 2023 | 2:32 pm

DEN

XLI

XOM

Despite the bullish sentiment in the stock market, import data contradicts the belief of no recession. Industrial Select Sector SPDR Fund (XLI) has broken out, indicating a belief of no recession. However, data from China, a major exporter to the U.S., shows a 24% drop in exports to the U.S., the worst since March 2020. This suggests a slowing in U.S. consumer buying. Earnings season has started with mixed results from various companies. Exxon Mobil Corp (XOM) is buying Denbury Inc (DEN), but the offer price is disappointing.

Portfolio Pulse from The Arora Report

July 13, 2023 | 2:20 pm

ADBE

AMZN

GOOG

HYMTF

MDT

META

PEP

SONY

TSLA

VSAT

XOM

Several companies have made significant announcements. Meta Platforms is preparing to launch a commercial version of its AI model, competing with Microsoft and Alphabet. Viasat shares dropped after an unexpected event during satellite deployment. The UK's CMA is investigating Adobe's $20B acquisition of Figma. PepsiCo reported better than expected Q2 earnings. Exxon Mobil is acquiring Denbury for $4.9B. Hyundai's Kia is investing $200M in a Georgia facility. Medtronic is facing a whistleblower lawsuit alleging a bribery scheme. The FDA is reviewing an energy drink founded by YouTube stars. Google is launching its AI chatbot, Bard, in Europe and Brazil. The NLRB filed a complaint against Amazon. Tesla plans to sell a $1,670 electric quad bike for children in China. JD.com is developing AI applications. Carlyle Group and Trustar Capital plan to exit part of their stakes in McDonald's China. Sony is ramping up R&D spending in its game business.

Portfolio Pulse from Vandana Singh

July 13, 2023 | 2:10 pm

AVGO

COP

TMO

On CNBC's 'Halftime Report Final Trades', ConocoPhillips, Broadcom, and Thermo Fisher Scientific were named as final trades by different analysts. ConocoPhillips was maintained with a Buy rating by Citigroup, but the price target was lowered from $145 to $140. Broadcom won conditional approval from the European Commission to complete its acquisition of Vmware. Thermo Fisher Scientific recently agreed to acquire CorEvitas LLC for $912.5 million in cash.

Portfolio Pulse from Lisa Levin

July 13, 2023 | 1:48 pm

DEN

XOM

Exxon Mobil Corp (XOM) has announced a deal to acquire Denbury Inc (DEN) for $4.9 billion, which will boost its Low Carbon Solutions business. The acquisition will give XOM ownership of the largest CO2 pipeline network in the U.S. and DEN's Gulf Coast and Rocky Mountain oil and natural gas operations. The transaction is expected to close in Q4 2023.

Portfolio Pulse from Lekha Gupta

July 13, 2023 | 1:33 pm

ADBE

The UK's Competition and Markets Authority (CMA) has launched a detailed investigation into Adobe Inc's $20 billion acquisition of Figma, a cloud-based design platform. The CMA had previously expressed concerns that the merger could reduce choices for digital apps, websites, and product designers. Adobe declined to propose any solutions to these concerns. The company continues to face global antitrust resistance to its proposed acquisition of Figma.

Portfolio Pulse from Vandana Singh

July 13, 2023 | 1:33 pm

MCD

Carlyle Group Inc (CG) and Trustar Capital are reportedly planning to sell part of their stakes in McDonald's Corp (MCD) operations in Hong Kong and mainland China. The private equity firms aim to raise $4 billion from wealth funds. The move would provide a partial exit for the firms after they bought the business six years ago. The deal values the business at up to $10 billion, including debt.

Portfolio Pulse from Akanksha Bakshi

July 13, 2023 | 1:18 pm

SSYS

Stratasys shares are trading higher following 3D Systems' enhanced, binding offer to merge with the company.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 1:05 pm

AJG

Arthur J. Gallagher & Co. has announced the acquisition of Carlsbad, California-based Benchmark Commercial Insurance Services. The terms of the transaction were not disclosed.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:01 pm

APDN

AULT

DFLI

Applied DNA (APDN) has acquired Spindle Biotech, launching the LineaIVT(TM) platform to improve mRNA manufacturing and broaden market reach. Dragonfly Energy (DFLI) is set to be granted a U.S. patent for a unique battery pack assembly design. Ault Alliance (AULT) announces a second partial distribution of TOG securities at approximately $0.37 per share of Ault Alliance common stock.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 12:44 pm