Streetbeat News

Acquisitions Mergers

AVRO

Avrobio Inc (NASDAQ:AVRO) shares are trading higher after the company announced it will explore strategic alternatives to maximize shareholder value. This follows a strategic review of its business and a decision to halt further development of its programs. Potential strategic alternatives include an acquisition, merger, business combination, or other transaction. The company did not provide a timetable for the expected completion of the evaluation process.

Portfolio Pulse from Adam Eckert

July 12, 2023 | 3:02 pm

NOTE

Rumors are circulating that buyout firms are showing interest in FiscalNote, potentially leading to a buyout.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 3:00 pm

BAK

J&F is reportedly offering Novonor BRL 10B in cash for a stake in Braskem. This news could potentially impact the share price of Braskem (BAK).

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 2:45 pm

NIO

NIO Inc has announced the closing of a $738.5 million strategic investment from CYVN Investments, an investment vehicle majority owned by the Abu Dhabi Government. CYVN also acquired certain Nio Class A ordinary shares from an affiliate of Tencent for $350 million, giving it an approximate 7% stake in Nio. Nio's shares have risen by more than 21% over the last month, following a delivery update for Q2 and June, with total deliveries reaching 23,520 for the quarter.

Portfolio Pulse from Adam Eckert

July 12, 2023 | 2:20 pm

AMEH

Apollo Medical Holdings Inc (AMEH) has agreed to acquire assets from Texas Independent Providers, LLC (TIP) to expand its Care Partners business in Texas. The acquisition will allow AMEH to deploy its value-based care management and operational platform to enhance TIP's provider network and patient healthcare experience. The transaction is expected to close in Q3 2023 and will be funded with cash on hand. AMEH's shares traded higher by 2.25% at $32.79 on the last check Wednesday.

Portfolio Pulse from Lekha Gupta

July 12, 2023 | 2:19 pm

CGC

TSNDF

Eight Capital analysts believe that Canopy Growth (NASDAQ:CGC) should not be valued as a going concern, with a price target of $0, due to continuous losses of $5 billion. TerrAscend Corp. (OTC:TSNDF) is seen as having a successful journey to listing on the TSX, with hopes of a NASDAQ listing in the near future. Other topics discussed in the podcast include Curaleaf's acquisition of Clever Leaves Portugal, Cybin's market surge, and Compass Pathways' $120 price target.

Portfolio Pulse from The Dales Report

July 12, 2023 | 2:09 pm

MMC

Marsh McLennan Agency, a subsidiary of Marsh & McLennan Companies, Inc. (MMC), has acquired Trideo Systems. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 2:02 pm

ATVI

AVGO

BRK-A

COIN

COTY

DIS

DPZ

GOOG

HYMTF

IBM

MSFT

NVO

TAK

Disney is considering different strategies for its Star India business, which could include partnering with another company or even selling it. Kim Kardashian is reportedly in negotiations to buy back the minority stake in her beauty company, SKKN BY KIM, from Coty Inc. KPMG is reportedly looking to invest around $2 billion in AI and cloud services across its global business lines over the next five years. CVS's Caremark business experienced a halt in prescription processing. Ark Invest sold 135,152 shares of Coinbase Global Inc. Faraday Future Intelligent Electric flagged errors in its previously issued financial statements. The European Commission has fined Illumina Inc and Grail Inc for implementing their proposed merger before approval. Activision Blizzard Inc stock is trading lower amid reports of a possible new investigation on the Microsoft Corp takeover deal. Broadcom Inc won conditional approval from the European Commission to complete its acquisition of VMware. Domino's Pizza Inc entered a new global agreement with Uber Technologies Inc. Takeda Pharmaceutical Co Ltd is voluntarily withdrawing its marketing application for its dengue vaccine. Google quietly ditched its AI-powered mobile chatbot app, Bubble Characters. Warren Buffett's Berkshire Hathaway stood to make a profit of over $1 billion following the court's decision to allow Microsoft Corp to proceed with its acquisition of Activision Blizzard. IBM is weighing the use of artificial intelligence chips designed in-house to lower the costs of operating a cloud computing service. Novo Nordisk A/S's weight-loss drug, Wegovy, saw a significant drop in adherence compared to what was reported in clinical trials. Microsoft Corp has revealed that a China-based hacking group, Storm-0558, breached email accounts linked to government agencies in Western Europe. Hyundai Motor Company unionized workers at its plants across South Korea reportedly staged the first strike in five years against the government's labor policies.

Portfolio Pulse from Vandana Singh

July 12, 2023 | 1:48 pm

NVDA

NVIDIA Corp (NASDAQ:NVDA) shares are trading higher following reports that the company is in talks to be an anchor investor in the upcoming Arm IPO. Arm aims to bring Nvidia on board at a valuation of around $80 billion, but Nvidia is reportedly interested at a valuation closer to $35 or $40 billion. This news comes after Nvidia was forced by regulators to abandon an acquisition of Arm for $66 billion last year. Nvidia was also named a top pick by analysts at Goldman Sachs.

Portfolio Pulse from Adam Eckert

July 12, 2023 | 1:38 pm

ATVI

MSFT

NTDOF

NTDOY

NVDA

Activision Blizzard's stock is trading lower amid reports of a possible new investigation on the Microsoft takeover deal to reverse a U.K. veto. The Competition and Markets Authority (CMA) has applied to put the appeal trial against its decision to block the deal on hold. Microsoft and Activision are considering modifying the transaction. Microsoft had already forged deals with Nvidia, Nintendo, Boosteroid, and Nware to win regulatory support for the deal.

Portfolio Pulse from Anusuya Lahiri

July 12, 2023 | 1:04 pm