Streetbeat News

Acquisitions Mergers

MKFG

NNDM

Nano Dimension is set to acquire Markforged in an all-cash transaction for $5.00 per share. The merger aims to create a stronger company with a combined 2023 revenue of $340M and cash reserves of $475M, enhancing their 3D printing portfolio.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2024 | 2:32 pm

AMZN

GOOGL

Google has rehired AI pioneer Noam Shazeer, paying $2.7 billion to license Character.AI's technology. Shazeer will lead AI efforts at Google, focusing on the Gemini project. This move is expected to enhance Google's AI capabilities, with analysts predicting significant growth in the coming years.

Portfolio Pulse from Anusuya Lahiri

September 25, 2024 | 2:18 pm

FLUT

Flutter's CEO discussed the company's 2027 U.S. profit growth projections, which are based on the current regulatory environment. The company is prepared to adjust to tax changes and is open to acquisitions in the U.S. and globally.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2024 | 1:36 pm

HRTS

NVO

Novo Nordisk is facing political pressure over high U.S. prices for its weight-loss drugs, Ozempic and Wegovy, as the U.S. presidential election approaches. The company's CEO testified before Congress, attributing pricing issues to pharmacy benefit managers (PBMs). Despite potential price cuts, demand for these drugs remains strong, and Novo Nordisk's U.S. revenues are expected to remain stable. The political focus on drug pricing is bipartisan, and increased M&A activity in the pharmaceutical sector is anticipated post-election.

Portfolio Pulse from Piero Cingari

September 25, 2024 | 1:35 pm

BACA

Berenson Acquisition Corp. I (NYSE:BACA) will liquidate as it will not complete its initial business combination by September 30, 2024. The liquidation process will begin on October 16, 2024, with a per-share redemption price of approximately $10.69. The company's securities will cease trading on September 27, 2024.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2024 | 1:23 pm

FCFY

HPQ

KNGZ

HP Inc (NYSE:HPQ) has acquired Vyopta, a provider of collaboration management solutions, to enhance its Workforce Experience Platform. This acquisition aims to boost HP's platform strategy and expand its management capabilities. HP's recent financial performance shows a 2.4% revenue growth, and its stock has risen over 36% in the past year. Investors can access HP stock through ETFs like KNGZ and FCFY.

Portfolio Pulse from Anusuya Lahiri

September 25, 2024 | 1:20 pm

IVCB

Investcorp Europe Acquisition Corp. I (NASDAQ:IVCB) has terminated its business combination agreement with Zacco Holdings, resulting in a $30 million termination payment. At least $20 million will cover incurred expenses. The company is considering alternative business combinations or dissolution.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2024 | 1:08 pm

APOG

Apogee Enterprises is set to acquire UW Solutions for $240 million, enhancing its position in specialty coatings and materials. The acquisition is expected to generate $100 million in revenue and $5 million in synergies by fiscal 2027.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2024 | 12:32 pm

FLUT

Flutter Entertainment has announced a strategic growth plan with a 2027 revenue target of ~$21B, a CAGR of 14%, and an adjusted EBITDA of over $5B. The company also plans a $5B share repurchase program. Flutter aims to leverage its global scale and local market leadership to achieve these goals.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2024 | 12:25 pm

AMD

APO

INTC

QCOM

Intel and AMD are in a competitive race against Nvidia in the semiconductor industry. Intel is facing challenges with a significant stock decline but potential investments from Apollo and acquisition talks with Qualcomm could signal a turnaround. AMD, on the other hand, has seen a stock surge due to its AI-driven growth, but recent volatility raises concerns. Intel offers a speculative high-risk, high-reward opportunity, while AMD presents a more stable investment with strong fundamentals.

Portfolio Pulse from Surbhi Jain

September 25, 2024 | 12:25 pm